taylor: trinity ventures principal allison baum, thank you for joining me.ad, why jp morgan is expanding into a machine learning hedge fund, furthering its tech arms race with morgan stanley. this is bloomberg. ♪ taylor: jp morgan is pushing its use of artificial intelligence beyond investment banking. the asset management arm is planning a strategy to invest in machine learning hedge fund. this is according to persons familiar with the matter. it will operate within jp morgan's $15 billion fund of hedge fund business. we are joined by bloomberg's hema parmar. what is the purpose? walk me through this. hema: machine learning is what they are focusing on. jp morgan calling it a fund of hedge funds. it will invest in hedge funds, specifically machine learning funds. unclear how sophisticated a machine learning they are seeking, but they can be more emerging to more established. it is really the next push for jp morgan alongside morgan stanley which have been investing a lot in these kinds of technologies using a.i., machine learning. they have been hiring up q

joining me now is trinity ventures principal allison.lators at the vc conference to discuss the consequences of tech regulation. i first have to ask you what was the key theme or your key take away from those meetings? allison: the meetings were very tense. i had two takeaways. one is that big tech is the new wall street. nobody in washington quite understands what they do, but they all agree they need to be regulated. the second is that the trade wars are escalating and so national security is a priority. regulators are really using whatever tools are at their disposal to make sure they are demonstrating to consist which -- constituents they are taking action to protect american interests. taylor: in what areas within your space is trade hitting you the hardest? we know we talk a lot about the chipmakers, for example, who are affected by huawei. what areas or companies that you work with are being hit the hardest? allison: the two key areas that are being affected most that matter i think for the ecosystem -- one is immigration. the sec