chime ed ludlow in san francisco.arkets. >> all of the action is centered in the bond market. the s&p 500 down half a percent or so but then you look at the treasury market. the haven asset of the world stealing a phrase from jon ferro has been trading like a penny stock. you look at the two-year treasury stock, that's an expectation of where the fed is going to go. it is down 41 basis points today, it was up 27 basis points yesterday. that tells you that all of the attention is on next wednesday. what is jerome powell going to do? it feels like no one knows. ed: thank you. let's keep the conversation going with cleo capital managing director. you were one of many who breathed a collective sigh of relief sunday night. you must be quite worried about what is happening in the banking sector? >> you don't want to wake up after svb is a little back on track and people are getting money out, first republic has stabilized, and then you wake up to this news out of credit suisse and hearing that they don't really have another

kriti: ed ludlow in san francisco. coming up, insight on the collapse of svp and what happens next.his time, all of you sarkozy -- olivier sarkozy. this is bloomberg. ♪ >> i think we have got to recognize this was the second largest bank failure in u.s. history followed by the third largest when signature bank was taken over. the combination of those things inside a couple of days is a check to the system. it will take -- a shock to the system. it will take time to settle out. jon: you were just listening to walter todd of greenwood capital on the collapse of the silicon valley bank. bloomberg news has learned apollo, blackstone and kkr are expressing interest in buying loans held by svp. over sarkozy joins us. he is currently the founder and managing partner of further global and has more than $2 million in assets under management. let's start with the 74 billion dollars loan book out of svb. a lot are saying that is an attractive by, coveted. what do you make it? olivier: loan books are evaluations of individual assets and what they would be worth. there is nothing you are acquiri

joining us from san francisco, more on this is ed ludlow, cohost of bloomberg technology.se results stand in contrast to more val, trading down. what was it about broadcom, what were they able to lean against in this quarter to best expectations? >> broadcom had projected confidence in december. the difference about this company and its leadership particularly, the ceo is they have very carefully managed supply even when there was great , elevated demands. they did not want to see two great stockpile. that is the first point. there is some evidence that at least in the corporate spending theater, bucking the trend in terms of the relevance of their products is still there. they are heavily reliant on apple, who are at this time there single biggest customer. that was a big part of the prediction projection of $8.7 billion revenue in second quarter. above expectations, they fixed the narrative of the earnings season that the market is rewarding bullish when it comes to guidance. kriti: rewarding bullishness but also rewarding key phrases. say the word ai, it feels like it s

joining us now from san francisco is ed ludlow.he first thing i thought of is, what it does a bank on the east coast know about doing banking in silicon valley? what are people saying on the ground? ed: first wall, look at the cell reaction. look at the history of this bank first. it has some experience dealing with troubled assets and banks. that is the first thing. at this way in silicon valley and san francisco, that's what a lot of inter-capitalists wanted. they wanted svb to be reincarnated. that is why the numbers are so important. what you actually dig into his first citizens buying 72 billion dollars of svb's assets, with a discount of $16.5 million. that still leaves $90 billion in the hands of the fbi see. and a $20 billion cost to that insurance fund. it is not a straightforward transaction, but it has calmed a lot of nerds -- nerves out this way. jon: how would you compare the silicon valley reaction with wall street? ed: this creates the 15th largest bank in the u.s., with $200 million of assets on its balance sheet. i

ed: i'm ed ludlow in san francisco, caroline hyde off this weekend this is "bloomberg technology." bring you the latest headlines on the trump indictment, a breakdown of the social media implications. we speak also to the technology group on generative ai as the industry heavyweights call for a pause in developing the disruptive technology. huawei hosting its first profit drop in a decade. as u.s. sanctions force the china tech tried to invest in r&d, we discuss with the huawei chief security officer. when it comes to the technology sector in the last day, what has been constructed, look at the nasdaq 100 up by 100 percentage point, ending this court or higher, best since the quarter of 2020. similar performer in the semiconductors. you look at the stocks in the semiconductor index, higher. but again the best quarter for that index going back to june 2020. yields 3.5% on the 10-year, risk on generally speaking in bitcoin is certainly a part of that story. the main headlines are around president trump and his indictment and how that is playing out in the tech sector and equity marke

coming up, donald purdy will be joining ed ludlow. we take a look at the markets.q 100 really are performing now. the unprofitable guys, definitely not. yields pretty much going nowhere. the dollar going nowhere as well. it feels like steady as she goes until we get some guidance for the second quarter. this is bloomberg. ♪ the new chase ink business premier card is made for people like sam who make...? ...everyday products... ...designed smarter. like a smart coffee grinder - that orders fresh beans for you. oh, genius! for more breakthroughs like that... ...i need a breakthrough card... like ours! with 2.5% cash back on purchases of $5,000 or more... plus unlimited 2% cash back on all other purchases! and with greater spending potential, sam can keep making smart ideas... ...a brilliant reality! the new ink business premier card from chase for business. make more of what's yours. as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans

ed: and i'm auto -- ed ludlow.pto market struggling to power through the enclosure of silver gate capital one of the main banking providers for cryptocurrency. bitcoin hitting a two-week low for mark let's bring in. >> we're effect from the collapse of ftx last november. a major client of story gate and as a result suffered from a bankrupt luster. they said they disclosed our losses and then they said they are evaluating if they can stay afloat internally and they also indicated risks being investigated by the department of justice so this prompted in exodus. one of the few and key payment platforms to transfer u.s. dollars between each other real time. caroline: all of these saying our ties with silver gate are being put on hold for the time being where do we go for this ability to transfer to ensure the pipes are still working, the infrastructure as to where. >> that is the question they are trying to figure out. and other bank is signature bank that they are planning to reduce the deposits from crypto companies

ed: i am ed ludlow in san francisco. this is a special edition.will cover the market chaos from u.s. to europe and beyond. the macro picture and how it affects your tech exposure.

it is somewhat centrally located in a state 12 miles north of ludlow. calvin was the fifth generation in the family to live in plymouth. his great great grandfather, captain john coolidge, served in the revolutionary army and later became one of the earliest settlers, the town. around 1780, the dutch sometimes referred to as an elevated area, surrounded hills and mountains full of natural beauty, with several streams. brooks running through it. there are a number of farms and open fields, but otherwise the area is largely forested with pines hardwoods. calvin's lived on a farm just down the road from the house where he was born. calvin's father, john coolidge, ran the general store in post office. family home was attached to the back of the store and was a modest. five room story and a half cottage. john coolidge, a well-regarded and respected member of the community and served in numerous ways over the years. calvin had admiration for his father in his many capabilities. calvin would later write in his autobiography he he trusted nearly everybody but l

ed: i'm ed ludlow in san francisco. caroline hyde is off this week. silicon valley bank finds a buyer. we will give the details of first citizens' takeover and what it means for the biggest financial -- failure since a financial crisis. mike wilson warns of elevated risk in markets. we discussed with greg boutle bnp paribas of. -- greg boutle of bnp paribas. the semiconductor index is down. first citizens stepping in for svb. yields higher, risk off going through the bitcoin, below 27,000 u.s. dollars this is a week where we are antsy, waiting for the amount of fed speak to come. this chart tells the story of the yields moving in relation to s&p futures. we thought we would get a bullish tilt. that is the macro picture with movers. >> a tech company working with nonprofits. the stock up nearly 12%. it rejected an unsolicited takeover bid from clear lake capitol for $71 a share. they said it is too low and shareholders agree. guggenheim raise the price target from nine dollars to $12. . a good day for snap. the story of the day is what is going on in t

caroline: i'm caroline hyde at bloomberg's headquarters in new york and ed ludlow is off today. at the outlook of the u.s. china relations as tension summer after tiktok ceo's

kailey: ed ludlow in san francisco, thank you very much.p, another blow for credit suisse in its battle to win back clients. someone who has been holding onto their investment for so long has finally thrown in the towel. we have those details coming up next. this is bloomberg. ♪ if your business kept on employees through the pandemic, getrefunds.com can see if it may qualify for a payroll tax refund of up to $26,000 per employee. all it takes is eight minutes to get started. then work with professionals to assist your business with its forms and submit the application. go to getrefunds.com to learn more. a third kid. what if she likes playing golf? it's expensive. we're outlawing golf. wait. can i still play? since we work with emower, we don't have to worry about planning for a third kid. you can still play golf... sometimes. take control of your financial future to empower what's next. kailey: we are an hour into the u.s. trading session, kicking awful will be a big week for investors. abigail doolittle is tracking the changes. abigail: a

ed ludlow is off today. this is open bloomberg technology -- this is "bloomberg technology." we will bring you the details from capitol hill on tiktok. and what about the latest on the cash app unit as they plunge in trading? plus lights, camera, apple? spending billions to break into show business. more on their plans to raise their hollywood profile. that and so much more, coming up. apple in the big tech, seeming like a haven on the day? even though they continue to worry about solidity and the banks. stoxx 600 is down on the day. dragged down by the banking stocks in europe. keep an eye on europe, the pound is up 4/10 of 1% as we see the bank of england like the united states federal reserve hike. that's the macro picture for you technology investors out there. looking at going, though, this is a haven of choice or a move that we see as they remain cynical around the banking industry? up 5% over the course of this trading day alone but we dive into the micromuse that are so important on the day. >> major movers, we are seeing a lot of that green on the screen coming from

ed: i'm ed ludlow in san francisco. this is a special edition of "bloomberg technology." caroline: because today we are focusing on the biggest bank failure since the 2008 financial crisis. silicon valley bank started the year with more than $200 billion in assets. today california regulators closed the bank into receivership. basically it collapsed. a top lender to vc backed startups. now it's the second silicon valley bank to fall in a week after silver gate's bankruptcy. this story is bleeding into the tech sector, into the financial market at large, and has the attention of not only financial regulators, the white house, tech founders of all backgrounds. tell us a bit about how it is impacting individual companies at this moment. ed: first off, trading of svb financial group was suspended. had a really profound impact on equity markets. a bank index down for percent. other names, particularly regional vendors we saw pretty deep declines. first republic and signature bank, some of those names. where we did see severe reaction was of course in svb group's debts. i'm kee

this is bloomberg technology with caroline hyde and ed ludlow. i'm caroline hyde in new york. ed: this is bloomberg technology. caroline: coming up, a conversation with cathie wood. ed: we will take a look

anyway, that wraps it up for me and guy on tv. , a new time caroline hyde, ed ludlow.sdaq 100 up to .3%. a lot of that's also nvidia. those regional banks leading the way. this is bloomberg. ♪ day long. so when something happens that could affect your portfolio, you can act quickly. that's decision tech, only from fidelity. 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 that always puts you first. (we did it) start today at godaddy.com >> from the heart of where innovation, money and power collide, in silicon valley and beyond, this is "bloomberg technology" with caroline hyde and ed ludlow. caroline: i am caroline hyde at new york's at -- at bloomberg world headquarters in new york. from crisis to fundamentals we talk jobs, inflation. more job codes

better to walk us through it than ed ludlow? walk us through what to expect.to start with dell. if you like that is the heavy hitter. ed: they are coming from a place where the market has changed. we are looking at top line to drop around 16% year on year. there was a drop in revenues going back to the third quarter. they have been able to protect the bottom line a little better. i think the forecast is for eps to drop about 4% year on year. the headline of recent weeks has been the layoffs. this is a company that actually pete from a headcount perspective even prior to the pandemic. he go back to january 2020 when headcount was at a level of around hundred 65,000 now at -- 106 5000. now after multiple quarters of cutting we are down to 126,000. the point being that the end market for pcs is not like it was in the pandemic era. what is the outlook going forward? amber: all of these companies reporting are touch points to other businesses. we saw consumer tech, that was soft. what do you think are going to be some of the information that we can glean about busi

ed ludlow is off. we count you down to the fomc rate decision as banks continue to struggle. investments.

i'm jewel was at a timely and it's anthony, donna's at a connie's ludlow ledger. my love that the recipient law has any commissioner robert anthony are no longer lucky. you can really look the order support maker that i wasn't able to share to get a pen on my laptop of china. so fema with us. hello. i'm a star bird boy. lavelli, but i know that or did that. he told us not to look. my indic them here in this day edition was you are letting. ah, we're talking about the grading really right now. got it. now otherwise i i see toward give the by talk today. i'll be outdoor wooddale loud me or time loud, nick, i'll clear. i geneva joke garden. i old girl. the girl up law. bob got knob at blue guy please. yeah. they all got it. no, i did the i mean i will look good night. you represent the just listen to the 2nd when from let's say that of a no more needed. so can you please read to me. oh, for me. but again, i let it go. then i came in midnight and i come on to you now. come on, i'd say you gotta get the c t d coffee said to me to do family members or family or coffee.

ed: i'm ed ludlow in san francisco. caroline hyde is off this week.nk finds a buyer. we will give the details of first citizens' takeover and what it means for the biggest financial -- failure since a financial crisis. mike wilson warns of elevated risk in markets. we discussed with greg boutle bnp paribas of.

emily: -- ed: and i'm ed ludlow. caroline: we talk first republic stock drop. ed: plus what the banking followed means for crypto. caroline: and the latest on job cuts in the world of technology, amazon announces it is laying off an additional 9000 employees, that in more coming up. let's get the read of risk sentiment, if you are looking at the nasdaq, technology outperformed last week, a stellar week on the nasdaq 100, today we digest what has happened over the weekend in terms of crisis and amazon. the bank index on the higher side apart from a name you are going to drill into. people are getting away from some of the haven bids, technology seen as a haven. what has been a haven over the last week, the bid for bitcoin, up almost 14% over the last few trading days and to gay -- today we do see they 28,000 level. ed: that momentum in the crypto space trance into equity market. this is lower 2.5%, but has since given up gains. bedforms markedly higher -- bitcoin markedly higher, we are trying to see how this will go. you see underperformance in mega caps, they

i mean isn't that, don't as an honest ludlow little that the recipient longacre mozilla de la la la la t. you can really look the order support maker. i might have a rush to share to get it done on my local channels a free moment with us. hello. i'm a start with a so i know that or did it on my end. if i can just do that with letty. ah, with now got it. now guys i'm i told you give by hopefully the i'll be outdoor dale loud me or time loud nickel. i can a joke and i'll go look it up now my bob got an apple is 5189. 9. when from let's say that of a no more need that so can you please read to me. oh for me. but again i let it go. then i may be midnight and come on to you now. come on, i gotta get the c t d coffee said emitted family member, say family friend fit or come before you get a job, please call me and i apologize. i wouldn't be dancing. may i get your business law and order life p k g, or get a take a look, but i will go to my so how may i know where to go to be part of the was done by all this already was talking about the work was based on india, not of another was dna. it was

caroline: i'm caroline hyde at bloomberg's headquarters in new york and ed ludlow is off today. coming up, a look at the outlook of the u.s. china relations as tension summer after tiktok ceo's testifying before lawmakers. microsoft's accurate -- activision deal getting a boost from the u.k., details as regulators narrow the scope of concern. and we talked the health of venture investing accelerating ne-yo and look at the state of hiring in the tech world as more companies announce layoffs. first, let's check in on these public markets. putting off from lowe's, nasdaq off a few tenths of a percent, a swirling concern toward the weekend, may be risk aversion towards it i had of more concerns around the industry, this time from deutsche bank, from germany, still worry about what it means for the ramifications here. stoxx 600, the banks part of that index off by more than 3%. look at in terms of the havens, the dollar is down versus the japanese yen and that is where people seek some sort of safety. let's move on and look at where this has been seen as a haven, today not so much, b

ed ludlow is off. we count you down to the fomc rate decision as banks continue to struggle. we assess what it all means. protect your investments. as we get the c-suite perspective, adobe's ceo. we go live to the software giant's conference in las vegas. plus for coverage on tiktok as its chief prepares to defend the social media company on capitol hill. can he assuage lawmakers demand for a banner a forced sale? first let's go to the calm before the fomc storm. the nasdaq up .2%, treading water as we see what the fomc -- what? -- what jay powell has to say. they are 600 up .2%. notable moves in the u.k., european market still trading ok. inflation ramping up, not dialing back below the 10% level. keep the fed to keep in mind. let's talk about what was once deemed an inflation hedge. more of a risk asset, has been getting higher as we see the bank crisis unfold come up another 2%. we are now above 28,500 on bitcoin. i want to bring in the one and only kriti gupta on what else is happening in these markets. kriti: we will continue the theme with some of the micro. check out g

ed ludlow is off today. this is open bloomberg technology -- this is "bloomberg technology."will bring you the details from capitol hill on

alix: coming up conviction founder sarah joins bloomberg technology with ed ludlow.ke a look at the markets because it feels like we are swinging to the upside. the s&p 500 is sitting right on the 50 day moving average. lululemon very much helping. lululemon is holding onto the gain of 13% while micron is helping tech. i wanted to point out the two year yield as well, the buying is coming in, down by one basis point and it feels steady as she goes. the money really pouring into technology today. 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 >> this is bloomberg technology with caroline hyde and ed ludlow. ed: caroline hyde is off this week. this is bloomberg technology. the bank out -- making fallout continues and we will give you the details of the svb

ed ludlow joining us from san francisco.picture than the one we saw first thing this morning. thanks for tracking sharply lower. names like ubs were off bg big big on the back of the credit suisse deal. since then the situation has stabilized. the stoxx 600 is up over a percent. like tradenames very well. but you have the banks coming back -- now up by 1.3% on the day. swiss not included in that. ups tracking higher. the market is taking a much more positive view of what is happening. yields are continuing to push lower. we are seeing that in germany and france. france is an interesting case. photo confidence in the french government later on. keep an eye on that story. coming up, we will talk more about the banks. the head of european banks research is going to be joining us. that conversation next. this is bloomberg. ♪ what do you get from the morgan stanley client experience? listening more than talking, and a personalized plan ♪ to guide you through a changing world. ♪ hi, i'm jason and i've lost 202 pounds on golo. bein

joining us this technology cohost, ed ludlow. i want to talk about svb.ent company filing for bankruptcy. there is a great story talking of the weather saying there has been a cloud hanging over this company for a while. this problem has been hiding in plain sight. ed: astonishing morning. svb financial group, which was the parent company of sillicon valley bank, file chapter 13. important to point out sillicon valley bank, the bridge company, silicon valley bank na, is state-chartered and under the fdic it cannot technically file into bank see. there are two separate entities but in time the relationship between the two is interesting. our colleagues around the country reporting one year ago the san francisco fed appointed a new team to go into sillicon valley bank a year ago and they quickly found shortcomings in everything from the technology that the bank was using, right through to its risk assessment of the current interest rate environment at the time. the plot twist that one of the appointees left in 2021 to go to none other than silver gate. we c

i mean, isn't that donors that connie's ludlow little that they recently longacre mozilla. but in the la la la p. u family loved the order support maker. i wasn't able to share the pen on my local channel. so fema with how much the little it. but i know that or did that. he thought it was a my indic them here in just a levy. ah, we're talking about the good news. i now got it. now guys i've, i told you give the bike totally idea. i'll be on the job dale loudly or time loud nickel. yeah, i can a joke and i'll look it up now my boss got and i'm actually guy it the, i mean i really wasn't getting me when problem say got to know more about what we were like. oh but suddenly it but again i let it go. then i came in midnight and come on to you now. come on, i've got to get the coffee had a me to do a family member say family or will come before you gave him an adult. but i was going to be dancing me. i think your business will be job isn't order life. he gave me a take a look and going, but i will go to my so let me know where to go to be part of the was only because it happens i

and isn't the donor that connie's ludlow little that the recipient already commissioner? open the door? no, no my lucky you can really love the order support maker. i wasn't able to share to get it done on my local channels. so freeman with us. hello. i'm a start with a so i know that or did that. it was on my ending them with a levy. ah, we're talking about the really right now. got it. now guys i i told you give the by totally the, i'll be our job, dale, loud knee, or time loud nickel. i can a joke and i'll go look it up now my bob got nom afternoon 518 the i mean i could have a good night when problem say that of a know more about what a clever oh for me. but again, i let it go. then i came in midnight and i come on to you now. come on, i've got to get the coffee said emitted new family members or family friends or coffee. i will come before you gave you an adult, but it was going to me that i wouldn't be missed dancing me. i think it's your taking the business. the job isn't or to life figure out what the word mean. get a take a look at wouldn't bother how's he would

ed ludlow has been watching for us.usual, elon musk talking about what he wanted to talk about his vision. what did it sound like and what was the reaction? ed: the reaction is the stock down 3% after hours. we went into this knowing it was a sell the news type event. this is classic elon musk. the end goal is a decade away. it is possible to have a future where the entire planet is run with sustainable energy. there was a real emphasis on the benefit of quickly electrifying. one point made was that when you think about supply chain and mining of metals, the level of mining would be less in a fully electrified economy versus the economy we have today. it's a sell the news event and that we haven't had any big splashy announcements just teases that there are products in the works and those will come at a later date. shery: it was supposed to be also about a focus on scaling. did we get more on those gigafactory's? ed: it supposed to be a focus on scaling. we have not yet had an official confirmation about mexico. i know

emily: -- ed: and i'm ed ludlow. caroline: we

that are honest ludlow little that they recently a commissioner though, but i'm, there's no, let me look, there were no support maker my. they were to share my local channels though. so i did that on my end. it's been this was the job now got it. now i was told to give the buy took a job, dale loud me or time loud nickel. i can a joke and i was looking up. my boss got nom afternoon guy. i mean, i wasn't getting when problem say that of a know more about what a g o for face in person. the guy and i go and then i came in midnight and i come on to, you know, come on, i got to get the coffees, had a meeting, new family members or family or will come before you gave him an adult. but it was going to him, it wouldn't be dancing me. i think it's your taking the business. the job isn't or to life figure out what the word mean. get a take a look at wouldn't bother how's he would go tomorrow? so i'm here with us for a little bit. nobody got to be lagging a little was an awful disorder. nobody was talking to abby started to work with based on india. no unethical dna was about. but it's not that he

ed ludlow broke the story and joins us now.his was supposed to be the year of efficiency for meta-platforms according to mark zuckerberg area it follows a 13% layoff and december. ed: according to our sources, the pitch for efficiency goes deep. these are new layoffs of 11,000 that came to the end of laster and are separate from the flattening that meta-has been going through, but tickly middle management. sources tell us and staff are drawing up lists and those could be converted to actual layoffs and one reason it could come quickly is because mark zuckerberg is due to go on parental leave. he is expecting his third child with his wife. what we are hearing from one source is that there is pressure on drawing up those lists. jon: helpful context, when people see the bottom line focus at meta-, they think about the challenges in the advertising market but you have been zeroing in on the challenges with the reality labs business. >> yeah, when it comes to the stock specifically, you have to think of the negative estimate revisio

part of that came during an interview by our very own ed ludlow.d asked the incoming ceo about whether the company is for sale. here's what he had to say. >> not for sale? you see why people think you coming in might open the door to that? or doesn't not make sense to you? >> people can make these sorts of arguments but my argument is i'm focused. by making sure for our customers that our drivers are doing a great job. amber: let's bring in jackie dallas to talk about this. it seems like more and more the ceo is speaking, it is a company that wants to be focused on its basics, not go out into the wild to compete uber. >> that's right. and investors did not like the sound of that. we've seen lyft shares come under pressure, whether it was after earnings or off the news it was falling behind uber, lowering fares in an attempt to stay competitive. they were looking for some kind of assurance the turnaround was coming and the hope was that an acquisition would inject some kind of uncertainty. the comments this morning really took that away. but so much

with us is ed ludlow. we have seen thousands laid off and thousands more. what is happening in the tech sector does not seem like it is bleeding through to the rest of the economy. ed: if mike mckee was here he would say despite the sensational headlines and the tens of thousands, tech sector jobs are just a portion of the tech sector jobs and evidence that many are finding new roles. what we found was a new round of layoffs are coming at meta-. sources are telling us that epn director level staff are drawing up lists and there is impetus to get it done asap because according to one source mark zuckerberg is due to go on paternity leave. so management want layoffs done before that happens. this is completely separate from the 11,000 at the start of the year and completely separate from the manager -- management flattening. it is new and against the financial target we are told by sources although i do not know what that is. shares are completely flat erasing the gains -- following the yields as they climb higher. guy: how should i think about this if i try

let's bring in ed ludlow with more of what we are learning on the topic of depositors getting accesspital. what do we know right now? ed: there was a massive collective sigh of relief from both founders and vcs. i heard wires are going through. people i spoke to did have difficulty logging into the online banking service with silicon valley bank. a number of people got error messages. but once they were able to get through to the portal, they could see the balance of their accounts. they could also make wires in and out of silicon valley bank. and as my colleagues in the field are reporting, the actual brick and mortar branches here in california opened up at 9 a.m. specific -- 9 a.m. pacific, 12:00 eastern. the treasury stepping into make depositors whole. the question is really what the broader ramifications of confidence are in this sector. kriti: what happens next when you look at the venture community? where do we go from here? ed: there were hundreds of signatories to that letter. we had them on the show earlier saying that list has now grown to 600 signatures. the thing that s

ah, god, ludlow carolyn hello, come carolyn's, a member of a support group that helps others who were coming addiction they ought to meet at the home of the reverend tim costello veteran social justice applicant, one of the pokey reforms. the groups pushing is the introduction of cashless gaming cards that restrict how much a gambler can spend, cash, just gaming cards. that would aside me. i would never have gone to prison. i went away now to spend the money that i didn't have got 7 point timmy says the will this staring in disbelief or just how politically powerful the gambling industry has become in australia. the machine's a built for addiction, like guns are built to kill either the whole point is to release the domain in the brain with the excitement of nearly a jackport that hits literally the pleasure center of the brain with the, with the force of crack cocaine. and he says it can be lethal, and i have her been to 6 funerals of people who took their lives because of that shame and stigma having lost everything and let their families down. i have a mic countless people who have

. >> i am ed ludlow in san francisco. >> tesla investor that kicks off and we bring you everything you need to know from elon musk's big event. >> we will bring you a conversation with the ceo of coinbase amid a broad regulatory crackdown on that industry as the sec eyes the company's product. >> plus, g. naming their new leader. all of that is so much more coming up. from private markets to public, we check in on what was a slightly dour mood and the overall equity benchmarks. some of that manufacturing data in the u.s. showing the prices are still rising further than the federal reserve. we want to see the 10-year yield. interesting that china managed to have a pretty strong day. i am looking at the golden dragon. even though the risk assets have been selling off of it. >> for the macros and the micro, -- salesforce knocking it out of the park. the shares are up over 14%. give us a full year 24 hour outlook. looking at the fiscal first quarter and revenue above expectations, other than a reaction stating that this is evidence, a company more focused on profit. one stock we have to pa

top tech stories, joining us now is ed ludlow. that did not go well for tesla.an see the bags under my eyes. expectations were superhigh. we have boosted the stock by 300 billion in anticipation of this event and no one headline. it was a big picture look at what tesla thinks needs to happen to transform the earth to a more eco-friendly environment. but there were no concrete details for a next-generation of ev's which we thought was a cheaper model. alix: saying things like we don't need rare earth metals, those are the numbers statements that had huge impacts on semiconductors and rare minerals. ed: the next generation of chipmaking, they think their in-house tech is better. look at some of the rare earth metal miners, those are falling because the next generation drive unit will only use magnet-based technology and no rare earth. we have reported that tesla is in talks with different minors in the message from elon musk is that it's not mining, it's refining. >> we need to make a giant amount of lithium, lithium carbonate. it's the refining capacity that is t

>> this is bloomberg technology with caroline hyde and ed ludlow. ed: caroline hyde is off this week. this is bloomberg technology. the bank out -- making fallout continues and we will give you the details of the svb meetings. more than a thousand tech heavyweights call for a pause on the artificial intelligence boom to implement safety protocols and we will break down what is inside the petition. chip stocks getting a boost as analyzed -- as analyst upgraded nvidia. technology a big driver and we are in risk on mo and we are seeing outperformance the nasdaq 100 the philadelphia index in particular. a bullish outlook from micron. yields are coming back and the u.s. 10 year 3.4% and bitcoin is caught up in this risk rally, at 4.28. it has been a good run for tech stocks. the nasdaq 100 is tech heavy and we are heading for a pretty blockbuster quarter. we are getting towards the end of march and a few sessions left to go as we bring up this bloomberg terminal to visualize the point. whether we continue the momentum is about the fed, core pce, the main

>> this is a bloomberg technology with caroline hyde and ed ludlow. caroline: i am caroline hyde. coming up, full coverage of the banking fall out. that is secretary yellen appears before the senate. ed: the u.k. taking a ban on the government phones. caroline: an exclusive conversation with the ceo of microsoft. to the economy and beyond, we will review our conversation and so much more. volatility in the bond market reprieve as we hear reports from the wall street journal and other outlets that we would see systemic banks in the u.s. come in at under support. the vix actually ending out of volatility. we see the ecb hike rates as many have perhaps not anticipated the 50 point basis hike move. the movement into this particular asset to, despite volatility in the u.s. dollar we are up 16% on bitcoin. dig in to some of the micro moves. ed: microsoft is integrating ai into the market suite. it was a prerecorded presentation. social media stocks also fishing higher on the bloomberg report. the u.s. is telling, sell your stake in tiktok. the banking sector is a dynamic. we look at fir

ed: an i and ed ludlow. the news continues. a sigh of. caroline: it is a new era for technology. we see potentially, the ongoing spiraling. let's talk about what is coming up in the next hour. the impact on startups and investors, regulators fighting for their reputations. ed: president biden vows to hold banks responsible for tougher regulation on the industry. caroline: and getting bought for one pound. from london to beijing and mumbai. let's check in on the markets. breathing a sigh of relief in the u.s., but not worldwide. looking at the equity front. we are seeing the u.s. spring back as we think maybe the federal reserve will have to pause their cycle. in looking at sovereign bonds, the threat to safety and the unraveling. down 38 basis points, the most we have seen since the 1980's, and terms of a move. a look at the key assets. remember what we saw back on friday, the worries about. this is a story about dollar weakness as well. ed: we have turned a corner. this is narrative around one and done with the fed. a number of these names turning a corner. there is contagion co

joining us now is ed ludlow. were these job codes larger than expected or in-line?we reported that they were coming into the thousands. it's not just 10,000 jobs being cup but meta-is scrapping the 5000 open roles they were advertising for. you go quickly to the question of why. in their regulatory filings they lowered their expenses cost in the range of 86 billion dollars. they needed to go deeper to reduce that cash burden while the world around them changes. guy: mark zuckerberg outlook on the economy is a bit like the weather with you. it's a little downbeat. ed: when it rains it pours. he is citing higher interest rates. he is citing a lien or economy and geopolitical tension. he is saying increased regulatory scrutiny and technology as a resulting and slower growth. the economy is worse than feared and they have been worried. morale is out rock bottom. they were worried that the economy would worsen which would require meta-to take deeper action and they have. investors are tearing it because they are getting what they wanted. alix: is the rough economic outlo

ed: i am ed ludlow in san francisco this is bloomberg technology.panies space race is taking shape after venture capital firms spent more than $6 billion on space related tech. based race is dominating launch and growing its own constellation of startling satellites, competition is heating up between smaller players. recently valued at $1.4 billion. joining me is the ceo, john. tell me about this company. you have this big moment. the satellite is built. it is moving just down the road from where we are sitting down to florida. why? guest: thank you for having me on the show. we built a new kind of satellite, and microsatellite from -- four higher orbits, geostationary orbit, you can put a satellite up into space and parking over a country providing continue it -- continuous service with that one satellite. that allows us to provide service at very low cost compared to other types of satellite applications, compared to the old school satellites have come before, today is a big day for us because we are launching, we just shipped our first satellite

mike mckee and ed ludlow joining us now to discuss. i will start with you. this on wall street walk me through on what is happening in silicon valley right now in terms of what happens next. how much fear is there on the streets with silicon valley? >> the longer-term story is that the higher rates situation has redrawn the map on valuations. what we see from a mechanic standpoint is basically founders and startups being able to raise money at less favorable terms. the near term story is that they were pulling deposits from silicon valley bank. the reason they did that is because they did not need the cash in the bank. they are facing a cash burn situation. which means they need cash at hand. there was a town that was on the market and it faced incredibly tough times where services and businesses are not as in demand as they were during the pandemic. or they are not able to raise more capital to give the surety and liquidity over a long time. alix: this is where i feel like this story hits your world. if they had assets in securities available and did the fe

joining us is ed ludlow. talk us through the amazon story and whether or not this is a surprise. am looking at the stock movement. a little bit of the delay but the stock pushing higher now. is it a surprise? what we know is that when the local authorities approved this phase of planning commission, according to a bloomberg source, amazon was keen at the time to get going. shovels in the ground and was considering digging into the foundation as early as last april. when that did not happen they considered starting this phase of construction in the early months of 2023. it seems like this is a pivot. what has changed is the announcement of amazon laying off 18,000 workers, which is the deepest cuts in history. combine that with the stock cheering this news it seems another piece of financial prudence. but it is interesting because it pushes back the timeline for what is a firm commitment from amazon. alix: i have to wonder how much of this is not finding the right labor or the right supplies. i appreciate they are rethinking their office space and they're cutting jobs, but buildin