♪ CAROLINE: I'M CAROLINE HYDE
AT BLOOMBERG'S WORLD HEADQUARTERS IN NEW YORK. ED:
I'M ED LUDLOW IN SAN FRANCISCO. EMILY: ELON MUSK CONTINUES
COST-CUTTING AND WE HAVE MORE ON LAYOFFS AS — PRODUCTION AS
WELL. ED: TODAY'S BIG TAKE FOCUSES ON HOW
THE FORD F1 50 LIGHTNING IS BUILT OF MATERIALS ALLEGED TO
BE DAMAGING THE AMAZON. THOSE WHO CALL IT HOME WILL
BRING YOU THE DETAILS. EMILY: SNAPCHAT UNVEILS A NEW TOOL TO
PROTECT CHILDREN. ALL THAT AND MORE COMING UP.
FOREMOST, WE GET TO THE MARKETS. AFTER A REPRIEVE AFTER THE
SELLOFF THE PREVIOUS WEEK TO READ WE ARE UP 6/10 OF A
PERCENT ON THE NASDAQ. EUROPE GETS A BID THAT LARGELY
FEELS TO DO WITH BORROWING COSTS AT THE MOMENT. U.S.
TREASURIES, MAY BE A BIT OF REASSESSMENT AS TO WHETHER WE
ARE BUYING THE DIP WHEN IT COMES TO EQUITIES OR BONDS.
LET'S LOOK AT WHAT HAS NOT BEEN BOUGHT ON THE DIP. CRYPTO AFTER WHAT HAS BEEN A
PHENOMENAL JANUARY, FEBRUARY LESS SO.
IF YOU LOOK AT A TWO DAY BASIS FROM THE POINT WE ARE TRACKING
IT IS UP 2% BELOW 24,000 EVEN ON A DAY THAT WE SAW U.S.
DOLLAR WEAKNESS.
ED: FROM THE MACRO TO THE MICRO.
WHEN I LOOK AT INDIVIDUAL NAMES THERE'S A LOT OF ENERGY IN EV
RELATED STOCKS IN THE MARKET. TESLA UP FIVE-AND-A-HALF
PERCENT. THAT PERFORMANCE REINSTATES
ELON MUSK AS THE WORLD'S RICHEST MAN ACCORDING TO
BLOOMBERG. WE'LL GET TO THAT LATER. FISK OR IS UP –FISKER IS UP.
THEY WILL SEE PROFIT UP IN 2023. LIFECYCLE HAD BEEN UP BUT THEY
GOT A LOAN. MOVING TO THE DOWNSIDE,
META-BUCKING THE TREND AND HALF A PERCENTAGE POINT DOWN.
YOU MENTIONED PALLETS HERE, DOWN FOR A SECOND SESSION.
BREAKING NEWS ABOUT HOW THEY ARE GOING TO CUT STAFF.
LESS THAN 2% WHICH IS INTERESTING.
THIS IS A COMPANY THAT PLEDGED NOT TO MAKE THESE KINDS OF CUTS.
ON A SEVEN DAY BASIS IT IS THE STOCK THAT SUFFERED.
AS YOU KNOW IT IS NOT JUST PALAN TIR. TWITTER SEEING LAYOFFS ACROSS
THE COMPANY INCLUDING ENGINEERS AND PRODUCT SERVICES SAYING
EMPLOYEES LEARNED VIA EMAIL AND OTHERS FOUND OUT BECAUSE THEY
COULD NOT LOG INTO INTERNAL SYSTEMS.
BLOOMBERG'S KURT
WAGNER JOINS US MORE — FOR MORE.
NOT ALL THAT SURPRISED REALLY. >> WE HAVE SEEN THIS SLOW
TRICKLE FOR A WHILE BUT THIS ONE FELT MORE SIGNIFICANT.
IT DID HAPPEN ON A SATURDAY NIGHT SO A LOT OF EMPLOYEES ARE
ENJOYING THEIR WEEKEND AND AS HE POINTED OUT, SOME GOT EMAILS
SAYING YOUR JOB HAS BEEN TERMINATED.
OTHERS ARE TRYING TO GET INTO THE SYSTEM, CANNOT AND THEY
DEDUCED FROM THAT. NOT GREAT, BUT TO YOUR POINT,
NOT SURPRISINGLY WE KNOW HOW MUCH THEY ARE TRYING TO CUT
COSTS OVER THERE. CAROLINE: ANY THEME AS TO WHERE THEY WERE
BEING CUT FROM OR KEY EXECUTIVES? >> IT WAS HEAVY INTO THE
PRODUCT WERE ACTUALLY AND I'VE BEEN HEARING FROM A LOT OF
PEOPLE THAT THEY ARE HAVING A TOUGH TIME FIGURING OUT WHO IS
LEFT IN PRODUCT. WE SAW SEVERAL FOUNDERS OF
COMPANIES THAT TWITTER HAD ACQUIRED OVER THE YEARS GET
LAID OFF. THE COMPANY HAD BEEN TRYING NOT
TO LAY THOSE FOLKS OFF.
THE THINKING WAS THEY MIGHT
HAVE BIGGER STOCK AWARD GRANTS FOR HAVING SOLD A COMPANY TO
TWITTER. THEY DID NOT WANT TO EXPEDITE
THAT TYPE OF THING BUT IN THIS CASE, SEVERAL FOUNDERS WERE
LAID OFF INCLUDING ESTHER CRAWFORD, WHO SORT OF BECAME
FAMOUS, IF YOU WILL, AS SOMEONE WHO WAS SLEEPING IN THE OFFICE
EARLY ON IN TWITTERS 2.0. ED:
I WAS GOING TO ASK ABOUT ESTHER CRAWFORD.
SHE WAS ONE OF THOSE PEOPLE WHO ALIGN THEMSELVES QUICKLY WITH
ELON MUSK, PUBLICLY TWEETING ABOUT THE THINGS THAT HE WAS
WANTING STAFF TO DO.
SHE IS GONE.
WHAT WE KNOW ABOUT THAT? SHE WAS PRO ELON MUSK. >> YOU KNOW THIS BETTER THAN I
EVEN DO, ED, BUT YOU CAN BE COMMITTED TO ELON MUSK AND THAT
DOES NOT MEAN IT IS RECIPROCATED.
THIS IS YET ANOTHER REMINDER TO PEOPLE WHO WORK AT COMPANIES
THAT HE RUNS THAT THIS IS A JOB. AND SHE WAS RUNNING TWITTER
BLUE, WHICH AS WE KNOW IS THE SUBSCRIPTION SERVICE THAT THEY
ARE TRYING TO BUILD. I DO NOT THINK THE ADOPTION HAS
BEEN GREAT. I DO NOT CONSIDER THAT ANYTHING
TO DO WITH HER. I'M NOT SURE THAT PEOPLE WANT
TO PAY FOR TWITTER BUT MY POINT IS WHEN YOU ARE HIGH-PROFILE,
RUNNING AN IMPORTANT PRODUCT, THAT DOES NOT SAVE YOU
NECESSARILY WHEN IT COMES TO ELON MUSK. CAROLINE: THERE HAS BEEN INTERESTING
REPORTS AROUND STOCK COMPENSATION AS WELL FOR THOSE
THAT REMAIN AT TWITTER AND HOW THEY ARE INCENTIVIZED.
ULTIMATELY, WHAT ARE WE TRYING TO MAKE OF THE WAY IN WHICH THE
BUSINESS IS BEING RUN? >> THIS IS CLEARLY AN INCENTIVE
TO ENCOURAGE THE PEOPLE WHO ARE THERE TO SHOW UP AND WORK HARD.
IMAGINE YOU'RE WORKING AT TWITTER TODAY.
YOU MADE IT THROUGH MULTIPLE ROUNDS OF JOB CUTS.
YOU ARE LOOKING AROUND CLOSE TO 75 OR 80% OF THE PEOPLE YOU
WERE WORKING WITH ARE NO LONGER THERE.
IF YOU ARE ELON MUSK, YOU NEED TO CONVINCE THOSE PEOPLE THERE
IS A FUTURE.
YOU SHOULD STICK AROUND BECAUSE
THIS IS GOING TO GET TURNED AROUND AND A BIG PART OF THAT
OF COURSE IS WHAT WILL YOUR COMPENSATION LOOK LIKE.
THERE'S BEEN A LOT OF QUESTIONS ABOUT WHAT IT WOULD BE LIKE TO
OWN ANY PART OF A PRIVATE TWITTER.
HE IS HOPING TO CHANGE THAT. WE DON'T KNOW THE DETAILS BUT
IF YOU ARE GOING TO STICK AROUND YOU WANT TO KNOW YOU
HAVE SOME SKIN IN THE GAME AS WELL. CAROLINE:
KURT WAGNER, WE THANK YOU FOR JUMPING ON THESE STORIES FOR US
AND BUSY ON SATURDAY. TALKING ABOUT COMPENSATION, I'M
JUST LOOKING, THE HEADLINE THAT CAME ACROSS THE TERMINAL AFTER
THE MARKETS SHUT. ELON MUSK DOING REALLY WELL UP
A COMPETITION PERSPECTIVE. ED: HE IS ONCE AGAIN THE WORLD'S
RICHEST PERSON ACCORDING TO BLOOMBERG'S RICH INDEX, JUMPING
BACK ABOVE AND THIS IS ABOUT TESLA GAINS.
YOU LOOK AT THE BREAKDOWN OF HIS WEALTH.
A BIG CHUNK OF IT IS TESLA STOCK, UP ANOTHER
FIVE-AND-A-HALF PERCENT.
WE HAVE BEEN WAITING ON THIS
FOR A FEW DAYS BUT THAT IS WHY WE KEEP TALKING ABOUT HIM AND
ALL OF HIS COMPANIES. CAROLINE: LET'S DELVE INTO HIS COMPANIES
FOR A MOMENT. YOU ARE THE ONE WHO COVERS
SPACE. THAT HAD A LITTLE BIT OF A
SETBACK THIS MORNING? ED: THIS WAS THE CREW MISSION TO
FERRY ASTRONAUTS. THREE NASA, ONE COSMONAUT, TO
THE INTERNATIONAL SPACE STATION. THERE WAS A TECHNICAL ISSUE SO
THEY ARE DELAYED UNTIL THE EARLY HOURS OF MARCH 2.
BUT THAT IS MEANT CURIOUSLY THAT THEY HAVE TO DELAY OTHER
LUNCHES. IT SPEAKS TO HOW EFFECTIVE
SPACEX IS OF PUTTING PEOPLE AND OBJECTS INTO ORBIT AND THEN
MANAGING. IT WAS SO RARE FOR THEM NOT TO
GO OFF THE SCHEDULE. USUALLY IT IS WEATHER BUT THIS
WAS A TECHNICAL DELAY. CAROLINE: THE WEATHER IN NEW YORK AND
THERE IN SAN FRANCISCO, BUT I TELL YOU WHAT WE HAVE BEEN
TALKING ABOUT IS FSB.
THAT IS THE UPDATE TO WHAT IS
IT? WHAT IS IN VETO AT THE MOMENT?
WITH TESLA THE IDEAS YOU CAN DRIVE THESE CARS AUTOMATICALLY
AS A SOFTWARE UPDATE AND THEY WILL BE ABLE TO IN SOME WAYS
DRY THEMSELVES BUT IT LOOKS AS THOUGH THERE HAS BEEN A
HANDWRITTEN — HINDRANCE TO THAT PART OF THE STORY AS WELL.
ED: THEY HAVE STOPPED ROLLING IT OUT PENDING A SOFTWARE UPDATE. THE UPDATE WAS REQUIRED BECAUSE
THEY FOUND A CRASH RISK ASSOCIATED WITH THOSE USING FSD
DATA. THE FIX IS MADE REMOTELY, BUT
WITH MICRO FOCUS ON HOW TESLA KEEPS CUSTOMERS SAFE.
CAROLINE:
PRECISELY. 360,000 VEHICLES HAVE BEEN
RECORDED ALREADY. WE KEEP OUR EYES TRAINED AT
EV'S MORE GENERALLY, THERE WAS A PHENOMENAL STORY, PART OF OUR
REPORTING KNOWN AS THE BIG TAKE, EACH DAY YOU DO A DEEP
DIVE INTO SOMETHING SPECIFIC THAT WE'VE GOT TO GET OUR HANDS
AROUND AND TODAY IT WAS A BLOOMBERG INVESTIGATION THAT
TRACED ALUMINUM IN THE FORD F1 50.
YOU CAN TRACE IT BACK THROUGH THE SUPPLY CHAIN.
IT COMES FROM A REFINERY IN REZ ILL. IT'S ACCUSED OF KILLING THOUSANDS OF PEOPLE AND
DAMAGING THE AMAZON. I WANT TO BRING IN ONE OF THE
REPORTERS BEHIND THE STORY, SHERIDAN ROSS SO.
TALK TO US ABOUT THE COMPANY INVOLVED. THIS MINING CAPACITY IS NOT
COMING FROM A FORD, THEY ARE SOURCING IT ELSEWHERE.
>> THAT'S RIGHT. THE COMPANY IS CALLED NORSE HE
DROVE — NORSE HEDRO, AND THEY HAVE A REFINERY IN BRAZIL THAT
HAS BEEN OPERATING FOR MANY YEARS.
THE PEOPLE WHO LIVE AROUND IT, 11,000 PEOPLE HAVE JOINED A
CLASS ACTION LAWSUIT AND THEY SAY THAT THE COMPANY IS
POLLUTING THE ENVIRONMENT. THEIR DRINKING WATER IS
UNDRINKABLE AND THAT THEY WANT TO BRING A CASE IN THE
NETHERLANDS, TO SEEK COMPENSATION FOR THE POLLUTION
THAT THEY ALLEGE IS MAKING THEM SICK.
CAROLINE: FORD DID OF COURSE COME BACK,
THE SPOKESPERSON YOU'VE SPOKEN TO WITHIN YOUR REPORTING.
FORD IS COMMITTED TO A SUPPLY CHAIN THAT RESPECTS HUMAN
RIGHTS, INCLUDING THE RIGHT TO CLEAN AIR AND WATER. BUT ULTIMATELY, HOW FOCUSED ARE
COMPANIES SUCH AS AFFORD TO THEIR SUPPLY CHAIN TO ENSURE
THAT THEY ARE ETHICAL? SHERIDAN: IT'S QUITE COMPLICATED.
SUPPLY CHAINS ARE DIFFICULT TO TRACE.
IN ORDER TO FIND OUT THAT THESE PRODUCTS FROM THE AMAZON GO
INTO THE FORD F1 50 IN THE EV AND F-150 BOTH THEY MAKE UP THE
EXTERIOR PANELS, ALMOST ALL THE ALUMINUM YOU CAN SEE ON THE
OUTSIDE, IT'S ORIGINS ARE IN BRAZIL.
AND THE WAY THAT YOU TRACE THIS IS YOU LOOK AT THE MINE IN THE
MIDDLE OF THE RAIN FOREST. IT'S THREE TIMES THE SIZE OF
MANHATTAN AND THEY WANT TO EXPAND IT ANOTHER SIZE OF
MANHATTAN.
GET IT OUT OF THE AMAZON, TAKE
IT TO THE REFINERY IT IS ALLEGED TO BE POLLUTING AND
THEN IT IS SMELTED IN QUEBEC AND GOES TO THE PARTS MAKERS IN
THE UNITED STATES. THEN FROM THERE IT GOES TO FORD.
YOU LOOK AT THE SUPPLY CHAIN, GOING INTO ALL THE ALUMINUM
THAT WE DO HAVE IN THE UNITED STATES, THE WAY TO TELL THE
STORY AND LOOK AT IT IS TO TRACK SPECIFIC PARTS ALL THE
WAY TO THEIR ORIGINS IN THE AMAZON.
SO BECAUSE SUPPLY CHAINS ARE SO DIFFICULT TO TRACE AND
NONTRANSPARENT, I THINK IT IS DIFFICULT FOR THE END-USER TO
NECESSARILY KNOW WHAT THE ORIGINS ARE IN THE AMAZON.
ED:
DIFFICULT TO TRACE BUT YOU DID A FANTASTIC JOB IN THE BIG TAKE
OF DOING EXACTLY THAT. WORK BACKWARDS AND YOU GET TO
BAUXITE. EXPLAIN HOW WE WORK OUT HOW
CONTAMINATION IS HAPPENING. MY UNDERSTANDING IS BAUXITE IS
THEN PROCESSED TO ALUMINA AND ALUMINA IS THE WHITE POWDER
FROM WHICH ALUMINUM, ELEMENTIA HIM AS I USED TO SAY IS DERIVED.
— ALUMINUM ESSAYS TO SAYS DERIVED.
WHAT'S WHAT WE KNOW ABOUT THE CONTAMINATION ITSELF? >> THEY USE STRIP MINES TO CLOG
THE EARTH. A LOT OF RUNOFF FROM THE
BAUXITE IN THIS PARTICULAR MIND IS CALLED –MINE IS IN THE
MIDDLE OF THE RAIN FOREST. FOR MANY YEARS THEY WERE DUMPING
LARGE QUANTITIES OF BAUXITE WASTE INTO A LAKE AND POLLUTING
THE ENVIRONMENTS THAT PEOPLE RELY ON TO LIVE.
THE FISH, THE WATER SUPPLY, WATER FOR WASHING, DRINKING
WATER, EVERYTHING WAS AFFECTED BY THIS MINING OPERATION.
EVEN YEARS LATER IT IS IMPOSSIBLE TO CLEAN IT UP.
PEOPLE TOLD ME WHEN I WENT TO TALK WITH THEM.
SO THAT IS ONE OF THE ASPECTS OF CONTAMINATION THAT YOU CAN
SEE AT THE VERY SOURCE.
OF COURSE MRN SAYS THEY ARE
OPERATING WITHIN LEGAL PARAMETERS AND THEY TAKE
ACTIONS TO MINIMIZE THE EFFECT ON THE ENVIRONMENT.
THAT SAID BAUXITE MINING ITSELF IS ACTUALLY DESTRUCTIVE FOR THE
ENVIRONMENT TO A LARGE EXTENT. AND THEN IT TRAVELS 800 MILES
DOWN THE AMAZON, I FOLLOWED THE TRAIL ALL THE WAY DOWN THE AMAZON RIVER TO THE END, TO THE
REFINERY, MAKING ALUMINA, THE WHITE POWDER THAT BECOMES
ALUMINA IS — ALUMINUM IS A COAL BURNING INTENSIVE PROCESS
THAT TECHNOLOGY HAS BEEN AROUND AND HAS NOT CHANGED MUCH. IN FACT, THE AD CAUSTIC SODA —
YOU ADD CAUSTIC SODA AND LIME AND THEY TAKE MEASURES TO MAKE
SURE IT DOES NOT ESCAPE INTO THE ENVIRONMENT, THE PEOPLE
THAT LIVE AROUND IT SAY THAT IT DOES. ED: THAT IS THE DEFINITION OF IN
THE FIELD REPORTING, IF EVER I HAVE SEEN IT AND THE RESPONSE
IS THAT FORD HAVE TO GO BACK AND LOOK AT SUPPLY CHAINS.
A STORY THAT WE CONTINUE TO TRACK.
ASTONISHING REPORTING.
COMING UP, WE STAY IN THE WORLD OF ELECTRIC VEHICLES AND SPEAK
TO THE CEO OF LI CYCLE, WHO JUST RAISED A FRESH FUND.
MORE ON THAT IN A MOMENT. CAROLINE:
WE WILL DIG INTO WHAT IS HAPPENED AFTER HOURS.
THIS IS A COMPANY THAT TIME AND TIME AGAIN TENDS TO BEAT
EXPECTATIONS WHEN IT COMES TO THEIR EARNINGS.
WE ARE GETTING HIGHER THAN 8% AFTER HOURS AS ONCE AGAIN GAINS
ON THE PROFIT OUTLOOK COMING FROM ZOOM.
LARGE BUSINESS CUSTOMERS ARE JUMPING.
A CUSHION THE LOSS FOR USERS. OPTIMISM AFTER BEING WARNED —
WORRIED ABOUT A BOOM AND BUST CYCLE. UP MORE THAN 8%.
THIS IS BLOOMBERG. ♪ ED: SHARES OF LITHIUM BATTLE
RECYCLE OR LI-CYCLE SPIKED AFTER THE COMPANY ANNOUNCED
IT'S GETTING A LOAN FROM THE BIDEN ADMINISTRATION AND THAT
IS FOR THE EXPANSION OF A NEW YORK RECYCLING PLANT.
JOINING US IS CEO AJAY. INTERESTING, THIS IS A SECOND
TIME WE SPOKE INTO THE INDUSTRY IN RECENT WEEKS.
HOW MUCH OF A STOPGAP IS THIS BECAUSE YOU TAKE SCRAP AND
RECYCLE IT BECAUSE THERE'S NOT MUCH SCRAP AROUND.
I'M WONDERING HOW MUCH YOU ACTUALLY NEED THIS CASH TO KEEP
OPERATIONS GOING AS THE INDUSTRY RAMPS UP.
AJAY:
GREAT TO BE ON, AND I THINK THAT IS A MISNOMER. LIFE CYCLE –LI-CYCLE DOES
URBAN MINING. WE WORK ON MANNERS LIKE TODAY
WE HAVE OPERATIONAL SITES THAT ARE FULL OF BATTERIES OF ALL
TYPES. THINK OF SCRAP FROM THE MAKING
OF BATTERIES AND ENERGY STORAGE SYSTEMS, BATTERIES, PEOPLE
DON'T REALIZE THAT THERE'S A LOT MORE BATTERIES THAT NEED TO
BE RECYCLED AND CONSUMER ELECTRONICS.
WE CONTINUE TO GROW. WE'VE MORE THAN DOUBLED OUR
LOSS HERE. WE HAVE CONTINUED TO SEE RAPID
GROWTH FOR OUR CUSTOMER BASE. ED:
IF THE SCRAP IS NOT SO LIMITED, HOW HIGH ARE THE BIDS YOU'RE
HAVING TO PUT IN TO OBTAIN IT. I'M INTERESTED IN THE ECONOMICS
OF THE BUSINESS NOW, RATHER THAN THE FUTURE ONE MORE SCRAP
IS AVAILABLE. AJAY: TAKING A STEP BACK THERE ARE
TWO PARTS OF RECYCLING. PREPROCESSING AND
POSTPROCESSING. PREPROCESSING IS THE PRODUCT
AND POSTPROCESSING, WE DO BOTH.
THROUGH THE FIRST STEP I WOULD
SAY WE HAVE A LOT OF THINGS THAT HELP US TO SECURE THE FEED.
THAT IS BEEN AN IMPORTANT PART OF OUR JOURNEY BUT THE REAL
MARGIN IS THE SECOND STEP, MAKING BATTERY GRADE LITHIUM.
THAT'S WHAT WILL BE DOING AT OUR HEALTH FACILITY IN NEW YORK.
THAT IS WHAT THIS COMMISSION — COMMITMENT IS FOR. THE LOAN. SO I WOULD SAY OUR NEXT ONE OR
TWO YEAR JOURNEY, THAT'S THE KEY INFLECTION POINT.
THE LITHIUM VALUE, THE NICKEL VALUE, THE COBALT VOLUME —
VALUE IN BATTERIES. CAROLINE: THE FINANCING COMING FROM THE
U.S. GOVERNMENT IS TO ENSURE THAT WE
HAVE A SECURE SUPPLY CHAIN IN THE U.S..
HOW MUCH WILL YOU BE SUPPLYING? AJAY:
IF YOU THINK IN EEEV TERMS, WE ARE OVER 200,000 MATERIALS
EQUIVALENTS.
WE WILL BE PRODUCING UP TO 8500
TONS OF LITHIUM A YEAR. THAT MAY NOT MEAN MUCH TO FOLKS
BUT THE UNITED STATES TODAY, PRODUCTION IS 5000 TONS.
SO I DON'T THINK MANY PEOPLE HAVE CLUED IN THAT WE WILL BE
THE LARGEST SOURCE OF LITHIUM PRODUCTION IN THE UNITED
STATES, ALBEIT FROM RECYCLING AS OPPOSED TO MINING.
MINING IS AN IMPORTANT PART OF THE EQUATION. ONE OF THE KEY THINGS THAT CAN
DELIVER IS A FASTER TIME. >> THE CUSTOMER BASE, IS IT
LARGELY DVDS, STORAGE? WHO ARE WE GOING TO BE SEEING
YOU SUPPLYING TO? AJAY: PREDOMINANTLY EVS.
AS YOU MAKE BATTERIES, IT'S NOT PERFECT.
LG IS ONE OF THE LARGEST MANUFACTURERS, BATTERY
MANUFACTURERS IN THE WORLD. THEY ARE AN INVESTOR IN
CUSTOMER LI-CYCLE, SO THAT IS A STEADY STATE GROWING FEED.
WE'VE SEEN SEGMENTS GROW, FOR EXAMPLE ENERGY STORAGE,
RESIDENTIAL, UTILITY.
EACH OF THE SEGMENTS, ALL TYPES
OF BATTERIES CONTINUING TO HAVE SIGNIFICANT GROWTH. CAROLINE:
WE THANK YOU FOR COMING ON. AJAY OF LI-CYCLE.
COMING UP WE WILL TURN TO TODAY'S TALKING TECH.
WE'RE GOING TO GET SNAPCHAT JUMPING INTO THE WORLD OF GUESS
WHAT? AI CHATBOTS. DETAILS TO FOLLOW.
AS WE HEADED TO BREAK, ANOTHER STORY WE ARE FOLLOWING, A U.S.
SENIOR CYBERSECURITY LEADER IS URGING THAT MICROSOFT AND
TWITTER DO STEP UP IN PROTOCOLS WHEN IT COMES TO USER SECURITY. JEN, DIRECTOR OF CYBER SECURITY
AGENCY SAYS BAD SOFTWARE, UNSAFE PRACTICES ARE FUELING
SOFTWARE ATTACKS. IT'S FEELING ENERGY, FOOD
PRODUCTION, HOSPITALS AND SCHOOLS.
APPLE IS A BIT OF A ROLE MODEL FOR COMPANIES.
THIS IS BLOOMBERG. ♪ ♪ >> MORE THINGS TO WATCH, NUMBER
ONE ARTIFICIAL INTELLIGENCE. THINK CHAT GPT WHICH IS ON
EVERYONE'S LIST. THE METAVERSE, IS THAT THE FUTURE OR A FAD?
NUMBER THREE, THE CHALLENGE TO ELON MUSK'S START LINK.
THIS PAGE INDUSTRY IS BURGEONING — THE SPACE
INDUSTRY IS BURGEONING. WILL THERE BE A RESPONSE?
HEALTH CARE DEFENSE ALIGNING WITH 5G AND OPPORTUNITIES.
NUMBER FIVE, CHINA IS HERE IN FORCE.
DEFIANCE IT SEEMS FROM THE OPERATORS WHILE HUAWEI ARE
BLACKLISTED.
ED: THAT WAS BLOOMBERG'S TOM
MACKENZIE AT THE CONFERENCE IN BARCELONA.
TALKING TECH, LOOKING AT TECH STORIES MAKING HEADLINES IN
SILICON VALLEY AND BEYOND. NOKIA, THE MAKER OF 5G
TECHNOLOGY, REBRANDING WITH THE NEW LOGO TO TRY TO GET AWAY
FROM ITS MOBILE PHONE AT ROOTS. NEARLY A DECADE AFTER THEY
STOPPED PRODUCING THE DEVICES BUT THE COMPANY IS STILL
DEALING WITH THE PERCEPTION THAT IT DOES PRODUCE PHONES. NEW STRATEGIC PILLARS TO ENABLE
GROWTH AS THE WORLD ADAPTS TO 5G TECHNOLOGY. REALITY GLASSES, DESIGNED BY A
CHINESE MAKER, USES GESTURE BY THE OPEN CAMERA TO SELECT YOUR
PAGES AND EXIT APPS TO RETURN TO THE START PAGE WITHOUT USING
A SMARTPHONE.
IT'S THE COMPANY'S LATEST
ATTEMPT TO BUILD MOMENTUM IN AN ARENA THAT HAS YET TO BECOME
MAINSTREAM. AND IT SNAPCHAT ENTERING THE
WORLD OF ARTIFICIAL INTELLIGENCE, THE SOCIAL MEDIA
COMPANY ENABLING CHATBOTS TO BECOME THE FIRST MAJOR COMPANY
TO HIS FEATURES POWERED BY OPEN AI GPT TECHNOLOGY.
THE MY AI BOT WILL BE PINNED TO THE TOP OF THE CHAT TO HAVE SO
USERS CAN INTERACT WITH IT AS THEY WOULD WITH FRIENDS.
WE BOTH SAW THIS HEADLINE AND THOUGHT OK, THE LATEST NAME,
WYATT SNAPPED, WHY ARE YOU DOING THIS? CAROLINE: MANY WOULD SAY THAT ARTIFICIAL
INTELLIGENCE IS AN AREA THAT THEY'RE GOING TO BE GOOD AT,
BUT IT'S NOTABLE THAT YOU DON'T PAY.
$3.99, NOT A MONTH IN TERMS OF PRESCRIPTION, BUT IT'S A PERK
IF YOU ARE A SNAPCHAT PLUS MEMBER AT THE MOMENT AND
THEY'RE ADVOCATING THAT YOU USE IT FOR WRITING LOVE LETTERS TO
CHEESE OBSESSED FRIENDS.
ED: YES, CHEDDAR FANS CAN TALK
CHEESE WITH THE AI. BUT YOU'RE RIGHT IT IS A VALUE
ADD. COLLEAGUES POINTING OUT THAT IT
MAKES THEIR FIRST PARTY DATA OFFERING MORE ATTRACTIVE TO
ADVERTISERS AS WELL. CAROLINE:
IT'S ALWAYS ABOUT CLOSING THE LOOP AND MAKING THEM MORE
ADDICTIVE TO THE USER AND MAY BE ADVERTISER AS WELL.
MEANWHILE, COMING UP WERE GOING TO TAKE A DEEP DIVE INTO THE
LATEST IN THE DRONE INDUSTRY. ♪ CAROLINE: WELCOME BACK TO
BLOOMBERG TECHNOLOGY. I'M CAROLINE HYDE IN NEW YORK.
ED: I'M ED LUDLOW IN SAN FRANCISCO.
LET'S TALK DROWNS.
