natasha lam, this is just outside of boston. it is so fun to see you here in person. what we are showing on the screen is this big tech selloff and the volatility we have had in the markets. what are you hearing about the jitters in the tech market right now? >> i think that the tech sector is facing two headwinds. one is an economic slowdown along with inflation and if you looked hysterically during those times, it is the tech sectors that get hit the hardest. the other part is interest rates. when you think about technology stocks, we think of them as long-duration stocks. when interest rates go up, you discount those cash flows at higher rates. that means to lower valuation. >> there has been a big conversation in the market about valuation. is it just rethinking higher rates and the lower net present value? may be growth at any cost does not work. what is the real issue? >> that is right, companies need a business model and i am a big fan of profitability. i think that is right and if you look at what happened to valuations, the tech sector was trading near 30 tim

but first we have natasha lam who was on the show on tuesday, listen to what she had to say about thehole situation. natasha: i think twitter has had so many challenges over the years, which is why you see ceos come and go, move around, while you are seeing what is happening with elon musk right now. unfortunately, it feels like elon musk is a cat playing with a ball of string. ed: a cat with a ball of string, what you are hearing, michelle, is in the background the bankers, advisors, business as usual. michelle: yeah, everyone that i have been talking to is under the impression that the deal with proceed as planned. one big sign of that is that the proxy filing hit yesterday morning. that is this big 100 page long document that explains how the deal came together, it's something that was put together in coordination with the musk camp and the twitter camp and is something musk would have had to personally sign off on if it was filed. it is a proxy that outlined the deal 54-20. it is the clearest indication that both sides do see this deal going forward despite the tweets we are seein

that was natasha lam, capital. really appreciate your time and insights here. and stay with us because coming up, i'm going to be joined by jason kelly. that conversation coming up next. this is bloomberg. ♪ taylor: welcome back to this very big special edition of bloomberg technology. we are live here from the boston convention center for the annual chamber of commerce meeting. of course for the greater boston chamber of commerce. i am so pleased to say that jason kelly is sitting right next to me. he is the cofounder and ceo of bio works. based start here in boston. we were talking off camera, everyone here is an or harvard grad. you are an m.i.t., one of the smart ones. jason: i got an undergrad and phd. my dad called it a decade of excellence. taylor: talk about your decade of excellence at your company and how your think about biotech innovation going on of which you are a part of jason: i think that's one of the great things about the area frankly is close proximity to these. an m.i.t. professor and the idea was take the learnings from software, this idea