Gender Pay Gap & New COVID Guidelines

be done to reach true pay equality. We'll speak with a woman who has made it her goal to change the structural roadblocks at her company and what others can learn from it. And he's helping raise millions for families in you Crane with as little as a thousand dollars per donation. Will meet the man behind the one K project, including what inspired him to get involved. Now, of course, today President Biden has been roughly about two hours in

a video chat with Chinese leader Jijing Ping. The two talked about Russia's invasion of Ukraine and what to do next. From more, I'm joined by Bloomberg Political director Jody Schneider in Washington. It was interesting Jody speaking with anre horder in a few hours ago. We heard China's version of events. Then we finally got the read out of the US version. What did it sound like for you for how the

call went. Yeah, so they're very different versions tailors. You might note they agreed on that they talked for two hours. There was a video conference, first time that the two leaders have spoken since November, so obviously the first time

since the Russia's invasion of Ukraine. UH. The Chinese summary came out first UH shortly after the call, and that they said, UH that President hu Jianping uh the case that they did not want to see an invasion of Ukraine and that they do not think that country's conflicts should be settled on the battlefield. However, they didn't mention Russia by name and didn't publicly UM and have not publicly criticized Russia for or denounced Russia as most of

the rest of the world has for that invasion. On the U S side, we got that statement later several hours later, and basically they said that US President Joe Biden had come out very strongly and said that there will be implications and consequences for China if they were to take direct support of Russia, such as selling aircraft or or military equipment to them for that invasion. UH. And also made the case that UH that President Biden.

President Biden made the case that the US had taken a number of steps, including sanctions, to try to stop that invasion in the first place. Judie, how do you think about this significance of these talks given the height in sort of geopolitical risk that we're already in, Because let's be honest, coming into this, this was a US in a China relationship that was already pretty strained. That's right.

There's these times have been frayed in recent years by a number of things, the trade tensions, UH, tensions over things like intellectual property disputes Hong Kong, Taiwan, UM, and then this on top of it. But the fact that

they are talking, I think it's significant in and of itself. UM, we have nuclear powers here, UM discussing the invasion of a country by another nuclear power, and the fact that they're talking, and that neither side UH, that both sides seemed to be willing to come back to the table. That was another headline out of this that they say

they will keep talking. Uh is significant in itself. Um, they didn't talk about trade or any of these other issues that Taiwan did come up, with the US saying it continues with its support of Taiwan the status quo, which is that it supports the democratically elected leadership of Taiwan, and China didn't have a fairly UH strong statement on Taiwan itself, saying that their actions their perceived actions on Taiwan have been misread and misjudged by the US and

there was an implicit warning there. Jody, I think what's interesting, We're just coming off of a great conversation we had on Triple Take for the last thirty minutes when we talk about the effectiveness of sanctions, and on one hand, they can work when they're targeted, but on the other hand, it really can continue to isolate a country like Russia

and push them further into China's hands. Right, how are you thinking about globalization the reorder of the word the world is we're thinking about sort of these bilateral relationships or if it's really just more of the Eastern powers versus now some of the Western countries. Yeah, it certainly has the potential to shake things up and to deliver us to more of that Cold war world. The other question was sanctions. Taylor. I think is interesting is how

much further can they go? UH? The US has you know, this has been the big They're big arsenal if you in trying to first prevent that, uh, that invasion, and then when they couldn't prevent it, to punish Russia Ford and to try to isolate them. But they have gone you know there, there doesn't seem to be much more they can do in terms of sanctions and UM, and that's a real question what comes next. We will stay tuned on what comes next, and I know that we'll

stay tuned with you. Jody Schneider, thank you so much for your time, our political news director. Let's stick with the impact of the war in Ukraine. I want to bring in Dan Eyes of web Bush for his read on it. Dan, I've been reading all your notes in the past three weeks and cybersecurity, cybersecurity, cyber security, what do you think are going to be within cybersecurity some

of the biggest Uh. I hate to use the word beneficiary because we're talking about a war, but how do you sort of see this plane out within your world of equity markets. Yeah, we've seen that. I mean there's clear elevation of threats. We think upwards in terms of the elevation since but we believe as a cyber warfa's already underway from Russia. Uh. You look at names like pow out of Z Scale or CrowdStrike, Palanteer and Tenable in cyber arc, those are really the basket of names

among many others that benefit. That's how we believe cybersecurity spending is gonna be up four to five actual overall. I T spend. I think it's gonna be a golden age for cyber and right now we're really seeing the importance as they protect enterprises as well as many organizations and agencies within the Beltway. But does that text spend

come from somewhere else? Because text mend was supposed to be strong coming into this year if I remember correctly, But with the FED raising rates, we might be looking at a little bit of a slowing economy. If a company now has to choose where they spend that tech, is it clearly going to be cybersecurity. Does it come at the expense of something else? Yeah, it's a great question.

I think that's where it's really Cloud and cyber security are the priorities, and we're seeing cloud budgets in many ways up thirty across the board, and cybersecurity go hand in hand, so and I think where that's coming from in terms of may being negative some of the hardware, some of the networking purchases that could be negative for the likes of Cisco and others. But I think we've really seen there is a bifurcation of tech to work from home. The e commerce names, I think a lot

of them are catching a falling night. You look where the spending is, enterprise software, Chips, some of the star warts, Apple, Microsoft. In our opinion this week, with the Fed, the tech bottom we believe is in once they ripped that band aid off this week. Okay, let's talk about that because the macro picture DAN is a federal reserve that's raising rates. But you're coming off of the tech sector that just posted one of the best weeks that we've had since November.

The headwinds though of raising rates, the pressure that's putting on valuations. Why are we at the bottom, Because I believe text Doxor is the most over soul we've seen in the last five or six years relative to growth, and I think what's happened is the risk off trade.

Everyone's head for the elevators at the same time on certainty obviously horrific situation Ukrain, the overall geopolitical but now the Fed how they've laid it out, so now the bulls and bears could debate it, but now there's less uncertainty and combined with what we saw valuations, the compression and the growth, you know, and then you look forward. I believe, especially in software chips some of the star

where it plays Microsoft, Google, Apple, among others. In our opinion, it's a bright green light to earn tech and I think that's what you're starting to see risk on. I could tell you a four or five to one investors calling us looking for bis versus shorts. Interesting, Dan, I wanted to talk about some other headwinds on the way.

It's so interesting. I think we're all trying to become at nickel experts in the last few weeks, the impact that it's having on electric vehicles as we're thinking not only about oil shortages and cutting off supply from Russia, but then the nickel imports as well. In the big

ramifications it's had in the markets. How do you think about e VS batteries, the push forward on that initiative, if we're struggling to get our hands on maybe some of those raw materials, well, I think that's it's bringing up the issue front and center because now price increases, and you shut tests to put a price increase this week, and you sat X playing and others. Because are the average ev is going to increase? It's about anywhere between

one thousand. Given this, I think it also just speaks to what we've seen in terms of raw materials. You're gonna see for other sources of raw materials, some could say maybe underwater and some other maritime areas start to

get front and center. But when you look at e VS overall, I still view this as not really denting overall demand because I think overall, when you look at gas and you look what happened in terms of what we've see in Europe and across the US, I believe it pulls forward needy demand potentially by two to three years, given what we've seen with a lot of fen sitting customers. Price increases there and nickel, but overall the demand continues

to be just massively pen up. Any think a lot of these stocks way over sold, Tesla front and center, Except what about it wasn't Tesla but another EV maker who tried to do price increases and then got some backlash and had to roll it back. Are you worried about a consumer who, maybe with broader inflation, is feeling panged and says, no, I'm not going to accept that price increase. How do you then think about the impact

on margins. Yeah, and when you talk about Rivy and the price to increase in the media called but I mean that was a disaster. Try the thirteenth episode, which continues to being the overhanging, the head scratcher in terms of what they did. But when you look at Tesla, I compare those price increases much more modest to the likes of Netflix raising prices and what you saw an app Amazon in terms of prime just stal warts know

that they can increase prices in minimal demand impact. So I think you campaign across the board with the same brush. I think Tesla in terms of price increases, we could still see you know, the two to three k a price increases and right now demands out stripping some Why today by about Dan. I'ves web Bush really appreciate it. Love getting you here on this program. Have a great weekend coming up. We are going to be sticking with sort of this theme of Ukraine and be talking to

the man behind the one Kate project. It helps Ukrainian families who've been displaced by the war. We're going to discuss how he's managed to get millions of dollars in the hands of those who need it most. This is bloomberg. As we watched day after day the horrific images that come out of Ukraine, many have wondered how to help mere days after Russia attacks Ukraine. My next guest decided to help families in need by getting money directly to them.

He's helped more than two thousand families so far, all thanks to people donating about a thousand dollars to sponsor a family. Joining me now is alex Is called. He is the founder of the one k Project. He was also born and raised in Ukraine before fleeing the country during the Cold War. So you unfortunately know all of this too familiarly and talk to me about sort of how you set this up to make sure that the money really was going to those families. Yeah. Absolutely, I

mean the premise of the project is simple. It's families in US and around the world sending one key directly to families in bucted by the war in Ukraine, and this is sort of direct human to human help is the best way to help families at scale. How do you then make sure though, that it isn't overtaken by I don't know, people who were taking money away from it, right, because you want all of that money really to go

to those in need. How can you ensure the people who are donating that that money, in a hundred percent of it is really going to those families. Yeah, well, this is a great question. And first off, we're not an on profits, so we basically take no fees. We match sponsors who go to one Key project dot org and it literally takes ten minutes to sign up. We then have a queue of families that were vetted based on the applications, and our volunteers literally reading these application

applications around the clock. And so once you know, once you sign up as a sponsor, you basically get matched to the family and you get instructions for how to send money directly to their bank. Account. I mean, it's really a wonderful project that you're doing, Alex. I am curious what you're hearing from families on the ground. We've

just seen the horrific images images after images. What they're telling you about, how they're trying to continue to contact you, trying to continue to talk to donors from around the world while they are literally in the middle of a war. Yeah, and and you're you're absolutely right. I mean, we we are able to help families in war zones who lost their homes, were able to help families who are displaced with a new grain, and also families who are refugees.

And consistent thing that we're here we're hearing from them is they need money for absolute basics like food, clothing for children, grant and increasingly people in Ukraine need money to be able to move out. And so we are absolutely flooded with incredible gratitude and love that also underscores really like strength and resilience of Ukrainian people and just

how meaningful this money is. A thousand dollars helps them, you know, helps families with like three to four people, primarily you know, single mothers and people who just are not able to generate income in any other way, and so it's exceptionally meaningful. Alex talk to us about that long term resilience. We've been having a lot of conversations, of course in the middle of this the humanitarian toll,

but long term, how you think. We just spoke with the Economic advisor right to the President of Ukraine about how you rebuild the roads, the bridges, the schools, the apartment buildings. Long term, how are you thinking about helping to sort of being able to rebuild if if people can return to Ukraine at some point. Yeah, and you know, Taylor, honestly, I wish we can stop tomorrow. I wish, I mean,

I certainly wish every day the war stops immediately. But the problem is devastation is so big and the displacement is so large, There's so many refugees. It's going to take months and years to rebuild. And so the project has its meaning and the North Star like, our goal is to help as many families as we possibly can. So to date we've been able to um We've raised over two point seven million as of right now and

helped over families. We have thirty five thousand applications and we know that there's about three million or more refugees, and so we've got a really long way to go. And you know, every thousand dollar counts because you know, you can make a difference in an input. And so our mission is to tenue through absolutely the end of the war, but more importantly really be the bridge to help these Ukrainian families to come back home and to rebuild. Really well, said alex Is Cold, founder of the one

K Project for Ukraine. Really appreciate your time. Thank you. It's the return of in person events quick takes. Attison Mills speaks to the south By Southwest attendees in Austin, Texas as the conference returns for the first time since the start of the pandemic. Take a listen. We're here at south By Southwest in Austin, Texas for the first time in three years now. This conference used to draw over half a million people to the Austin area, but in March it was canceled due to the pandemic. So

what's it like to be back. Let's talk to people by out huge south By canceling twenty was like a really big moment I thankful for like the world in my career professionally was nine months planning and activation to come back, and three days before we took off at all canceled and you can feel the excitement in the air, like people are really excited to be back and ready

to be back. How does it feel to be back after three years of no South buy a really good How often does this happen where people just take your picture? I mean with this on, come on? So obviously canceled back in we're back for the first time in three years. What's the biggest change that you've noticed? People are definitely a lot more patient instead of being huddled up against

each other. There's just a really good energy here. Everyone's really excited to see what the new exhibitions bring and just seeing blockchain and n f t s and more crypto coming to like the main front. I think that's probably the coolest thing. Do you feel like there's much focus on COVID or people just kind of ready to block it out nas Is, Texas. I don't think anybody's

too worried about it. It seems like there's a littless people. Honestly, it doesn't feel like it's quite as busy as it's been a year's past, and I think there's also just like the rules of of COVID and staying safe, you know, we have to have the clear up with us and have masks and trying to navigate where and when it's safe to be masked and unmasked. Mixed bag. I feel like I'm seeing maths. I'm saying no math I think people aren't excited to be back in person um. They're

trying to do it as safely as possible. So whatever that looks like to them. I like that it's almost a smaller scale. It doesn't feel as busy as other south By. It's definitely a little bit smaller this time around. For sure, small crowds are bad for small businesses. Bars and restaurants in Austin used to make half their yearly revenue just from south By Southwest alone. That may be harder with smaller crowds. But those who are here, including me, are ready to dive right in a lot of the

local bars over on Rainy Street. This is like their life blood, these events. I'm super happy that we can have it and get keep them in business. It seems like business is back, and this is such a huge opportunity, such a huge travel destination. But I think it's gonna be really great for everybody. Quick takes Madison Mills, who gets all the fun assignments. This is Blimberg Technology. I'm Taylor Riggs in New York in for Emily Chang and

Equal Pay Day. It was this week and it's an opportunity to shed a new light on what more needs to be done to ensure pay equity between men and women, which is something my next guest has been fighting for at Credit Carma ever since you joined the company back in. Colleen McCreary, chief People Officer, joins us. Now, great to have you, and I first want to start, you know, because you think of Credit Carma and you think of

it's within the tech sector. And that's really, I think, from my knowledge, where some of the worst discrepancies have been when it comes to uh equal pay. What sort of the backdrop of the numbers behind you know, not only all sectors, but specifically tech sector as well, And are we any closer to closing that gap? Well, the unfortunate reality is that what we're still seeing is that women only make up about what of what a man

makes um and almost any job. And and you know, I don't necessarily know if tech is any better or any worse, but I think tech is so competitive that it puts a big light on the talent shortage and the fact that they're not, you know, doing a great job of keeping and retaining their women, which obviously will come back down to how people are treated and how

they're paid. What did you do then in Credit carmas you think about coming in in eighteen and some of the changes that you've found that really have worked and have stuck. Yes, So when I joined in eighteen, to put it in perspective of Credit carmis history, it was a start up for a long time. It was about seven hundred employees, and they had a massive attrition problem, um so almost attrition and also recruiting problem. And you know, the other piece was that their employees and employee surveys

didn't believe that their pay was fair. And frankly, when I got there, I didn't understand how the employees were being paid either, and so you know, it took a bit of a journey to get there. Uh, And we moved to this system called role based pay, and instead of using ranges and instead of using like a performance review once a year and moving somebody's pay you five

thousand dollars or two thousand dollars. There, everybody who is in the same job gets paid the exact same thing, regardless of how long they've been there and what gender they are or where they worked before. Is that that flash to that? Though? Sorry just to jump in. If someone for longer and I've committed and I've devoted myself to this company, I think that's a great question. Actually, what we've seen as the opposite, our attrition, frankly, even

now is the lowest it's ever been. UM. And the other thing that we saw is that the offers that were accepted, uh. And what we you know, for the most part, employees really embraced the idea that they thought it was the most fair way of being rewarded, and they they understood where their pay came from, how we were determining it, and we reviewed it twice a year and made adjustments. UM. And so we saw the act opposite of what you're explaining. Interesting, how do you compensate

then for experience? I know that we talked some about loyalty to a company, but take that out someone just who's has more time and maybe more knowledge in the industry. Do you argue then that, well, they're at a different role with the higher pay, and that's sort of how you can sort of equalize, uh, that experience gap. So what we did is actually we've built a job framework for all of our functions and we got very clear on what was expected of each role, and so where

somebody interviews and they come in, they're slotted in. You know, if you're a software engineer, maybe you're a software engineer one or your software engineer four, and it's based on, you know, a combination of your experience, what your skills for that role. And we posted those so that people

were very clear and what the expectations were. And we moved to doing promotions four times a year so people weren't sitting around waiting to be recognized for their work, and providing that level of clarity and the opportunity of knowing when they were going to be reviewed and building out an actual calibration so that everybody who's being considered for promotion at that point in time was being considered against the same framework and each and every team that

we had, and then we were able to assess and root out if there were potential for biases, and how do we necessarily make sure that all of the managers are looking for the right skills. But providing that transparency and clarity to employees really helped a lot in making people believe and understand that they were being paid equitably for their experience and their contribution. I think the keyword

you said is transparency. And I think in the past, maybe companies have said that you don't talk about your pay with other people, and corporations haven't always told other people what their colleague is making. How much of this really does come back down to transparency, maybe on the corporation's side. Well, I mean, first of all, it's illegal for corporations to tel employees that they can't talk to each other about their pay. I actually think employees should

talk to each other. I personally don't put somebody's pay up on a corporate internet site or say you know what everybody is making. You can't unsee pay decisions. And I think at the end of the day, frankly, compensation is inherently an unfair thing. It's market driven, it's supply

and demand. But I'm not going to out somebody who is not comfortable with somebody else seeing what they're paid, but if they want to share it amongst themselves, I think it's a great skill and I think it really drives on you know, it's a check on the you know, corporation. Are they doing the right thing? Are we living our values and what we've stated. And also then employees can potentially understand amongst themselves, you know, how each role does pay.

A lot of our viewers are investors, and I'm curious as we think about the rise of e SC maybe the role that pay equity has to do with sort of trickling down not only to the top and then to the bottom line. What advice would you give companies and some of the positive changes they can make and any sort of then positive impact it may have on the company and the bottom line. Well, I think I would you know, start with that pay program that we

put into place. You know, if we reduced attrition by two thirds as soon as we roll this out um, and then like I said, our acceptance rate went up quite substantially for offers being acceptance, So just from a talent perspective of keeping and attracting the right employees, which certainly has an impact on your bottom line, and if I look at Credit Carma in particular, we definitely had a rough twenty with COVID. We were affected by the pandemic.

We're going through an acquisition by into It at the time. But since then, you know, we've had record quarters in one and into two, so and I think, you know a lot of that speaks to the talent that we've been able to attract and to keep in our business. Really appreciate it, Colleen McQuary, the Credit Carma Chief People officer, Appreciate your time. Now let's move on by Well, we're going south, going south by southwest today, we're going to bring you the company which won the Best Content in

Gaming Startup rewarded this year's Pitch contest. Action Faces, the first three D scanning map that instantly transforms users into three D action figures and they can customize and purchase. Bloomberg's Quick Take caught up with CEO Kenny Davis at the event. Take a listen. What we do is we three D scan you with phone in your pocket and then allow you to customize the heroic version of you,

kind of like making a video game avatar. When you're ready, make your action face as long as the entertainment industry has existed, there's been this sort of business problem, which is that you can't just make one hero that everyone can identify with. And so the sea change for the entertainment industry is, what if you could make every person

the hero? And one of the things that's important to understand about what we're doing is we are making action figures who are also creating a digital version of each person that can be used across media. Ultimately, what we're building is that sort of on ramp into the metaverse. So I worked for MATEL and I work for Hasbro.

Every time a v I P would visit, whether it was the CEO of a big retailer or a celebrity, we would make them a doll or an action figure that look like them because everybody loves seeing themselves in some sort of heroic world. So we knew people had understood the concept immediately and that if we could just scale that business, then you know, we had a hit on our hands. The problem was that just the manual labor and the supply chain issues of the technology at

the time couldn't scale. So in two thousand eighteen, Apple added face i D hardware to their iPhones, and that's where I saw the opportunity and I recruited this dream team to bring this to life. We are so honored to be here at south By Southwest who've just won the Pitch competition in the Entertainment Content and Gaming category. So the next thing for us to do is we're raising a little bit of money so that we can take this experience and bring it to stadiums and theme parks.

Imagine going to a stadium, getting yourself three D scan and then during the TV break seeing your animation up on the Jungo tron. This is what we want to start bringing to people. Like I said, she always gets the fun assignments. That was Action Faced CEO Kenny Davis, south By Southwest and coming up Bitcoin, it's stuck in a little bit of a trading range here with the FED signaling additional tightening and yes, increasing interest rates. What

can help jump start the crypto industry once again? Big discussion coming up next. This is Limburg time now for a crypto report. You think it's the weekend, the crypto doesn't stop trading wild weekend ahead, I'm sure. Let's take a look at some of these markets of course with our crypto contributor Snali boss Taken Sharlie. We've been talking a lot about this program. You've been nice to anchor with us all day in the afternoon, pretty much all week about some of the rate hikes, all of the

geopolitical uncertainty, and yet maybe some resiliency within these crypto markets. Yes, finally a lift back up in crypto markets after crypto winter. So we look at that rise back up back above dollars. You do see a little bit of a dip tailor going into the weekend. But you know, this rise back up this year, it's not just helped Bitcoin, it has

helped companies related to bitcoin. So if we take a look at the next screen here, let's look at backed So a company here that just pretty recently one public last year, has started to see that lift in more recent days, recent weeks, pretty significant rises if you look at the tail end there after riding the way down alongside crypto winder. Let's take a look at more of this now, with this adoption curve moving forward, what can

give crypto the next leg higher? We have back back CEO Gavin, Michael Gavin, thank you so much for joining us. How do you think about the next couple of weeks and months when it comes to cryptocurrency and the types of companies, countries and people that may adapt it in order to give it that next leg. Yeah, great to be here, Thanks for having me. You know, when we think about it through the lens of backt we're really

working to connect the digital economy. We're trying to bring innovative crypto experiences to the customers of non crypto native businesses. You know, we're bringing crypto capabilities to your local and regional banks and credit unions. We're working with brands to enable crypto rewards, changing the way people can enter the asset class through this passive acquisition. Through using everyday spend is a way to accumulate a small amount of crypto.

We're even enabling gig economy workers to really get paid a portion of their salary and cryptos will be incentive in crypto. So I think when you look at adoption, what we're doing is broadening the base by trying to create these new opportunities for people to enter the asset class.

There's still a lot of frictions, Gavin, when you look at being paid in crypto or paying for products and services in crypto, taxation being among them, what can start to make it easier for money to move through crypto markets rather than through traditional dollars. So I think the first thing you've got to look at is volume. You know, people and businesses in particular focus less on the volatility and more on the volume that they're seeing in the

overall crypto economy. Our role in this connective tissue, in playing the role of connecting the digital economy, is trying to seek to remove as much friction as possible. You know, we take care of the tax We make it easy for people when they're selling to be able to complete

the necessary very tax obligations. We're working to make it easy for businesses to be able to accept crypto, and then we're looking for other ways in which businesses can engage and create these innovative experiences, you know, like rewarding in crypto, and when we think about that, we think about the ability for people to be able to redeem for crypto as well as earned rewards in crypto. So

our role is to take the friction out. It's to allow us to embed these experiences in the environments where consumers already are want to meet customers where they are, you know, whether that be embedding the ability to buy sal crypto and your local banking application, or simply attach a crypto reward option to the credit card or debit card that you know and love. Part of that meeting the customer where they are has been renewed conversations around

privacy and regulation. When it comes to Russia's vision in Ukraine, some people would say it's a great way to avoid some of the sanctions. Others would say it's a great way to send money in crypto to the people on the ground who need it most. How do you think about that? So one of our our founding principles is that crypto as an asset class is going to mature much faster in an atmosphere where we prioritize regulation, compliance

and security. You know, we've built those principles into our platform from day one, and you know, our former parent company Ice really engendered that thinking in everything we do. So we've made sure that we have the right infrastructure in place to really build that trust and security. You know, we operate under a chust tittle. We have a bit licensed from n y d f S, We have money transmittal licenses across the US, and we really are focused

on being highly regulatory, compliance and secure. And you know, we look at the opportunity for US to be able to help regulators better understand digital assets, to develop regulation that creates safety and soundness in the financial system, and we want to be able to ensure that we keep that agility in the core of everything we do. My colleague here, Schinelli Bossi, of course did speak with mag novograts earlier about cryptocurrencies. Take a listen to what he

had to say. The whole year, I thought we gonna be a thirty thousand fifty thousand range in bitcoin risk to the upside, not the downside. Um, but I think you know, five years out, if bitcoin is not at five thousand, I'm wrong. On the adoption cycle, uh right, we see an adoption cycle that accelerates. Bitcoin grew so much faster last year, Crypto grew than the Internet did its best years in the nineties. Hey did come, do you want price? But is the price keeping up with

that adoption cycle that he described? So I think what we can say Taylor as mess adoption is definitely here. We're moving through an inflection point. We've seen a steady uptick in is that are buying cryptocurrency, and we've seen that for quite some time, and the volume of transactions is an important measure because for US, as volume increases steadily,

it really starts to signal that interest in velocity. You know, we're really focused on driving that next wave of adoption, bringing in the crypto curious, a slightly older demographic, potentially someone who's potentially less tech savvy, and we're looking for

new ways to introduce those into the crypto economy. You know, we we look at price and obviously we're focused on the volatility, but we're more focused on growing volume overall because we think that's where we reach that sustainability point. But there's no question that mass adoption is here and we're moving through that that inflection point. Really appreciate it back CEO Gavin Michael and of course are very on

Bloomberg's appreciate both your time. Apple has launched its first new products, including new iPhone scs and iPad airs with five G and faster chips, Green iPhone, thirteens, the Max Studio, a new monitor, and of course the m one Ultra process. I think the new SC doesn't really move the needle much because at this point I still believe five G is still a marketing tactic, and the other SC upgrades

are not that significant. The new Air is nearly identical to the eleven inch I Pad Pro, so if you're in the market for a ten to eleven inch tablet, I'd probably go at the Air instead of the Pro and say that extra two dollars of cash. I really do like the new Alpine Green iPhone Pro color, and I do hope it sticks around for the iPhone fourteen this fall, and the Max studio really shows us how

much Intel was holding Apple back in the Mac chip department. Well, the new displays point is fairly reasonable within the Apple ecosystem. It's not the world's best. See when you realize that an iMac with a full M one inside is a hundred dollars less. Looking ahead, Apple's new M one Altra chip sets the stage for a slew of M two Max that would include an M two Macokair, Mac Mini, thirteen inch MacBook Pro, and twenty four inch iMac, along with an M two based Mac Pro with as many

as forty eight CPU cors. Apple's also working on a new high end pro xdr display to attach to that Mac Pro, and the next year we should also get new high end MacBook pros and iMac pros with M two Pro and M two Max chips, along with eventually a new Mac Studio with an M to Ultra. Apple's new chips are clearly outpacing rivals, and they're at the very core both Apple's present and future, and I'm very much looking forward to seeing how the chip ro map

continues to take shape in the coming years. I'm Mark German. This is power On and Don't forget. You can subscribe to Mark's weekly power On newsletter at Bloomberg dot com. There are a few other stories, of course, that we're watching. Take a look at in video. Having one of the best weeks since the start of the pandemic, shares rallied on Friday, with the chip maker extending a recent advance as analysts all look ahead to the company's GtC conference

and investor events next week. Shares her up about six percent on the day, nearly twenty percent for the week, putting it on track for its biggest weekly percent games since March. And we are approaching one week since another giant container ship owned by Evergreen It has been stuck in the Chesapeake Bay near Baltimore. The ship, absolutely named

Evergreen Forward, has been stuck since Sunday night. In hopes of getting it unstuck, Evergreen Marine has hired the same company it used to free three other giant container ships when it ran aground in the Suaves Canal last year. And we all remember that it disrupted global trade for months. That does it. For this edition of Bloomberg Technology, Wall Street Week next with one of my favorite colleagues, David Weston.

He'll be joined by Shnoli Dasai from Franklin Templeton, Joanne Peeny from Advisor's Capital, and Rick Reader, ce IO at black Rock, as well as former Treasury Secretary Larry Summer is Big Week from the Federal Reserve. I know they'll touch on it. Plus we listen to today's show on the new Bloomberg Technology podcast. It's new. It's great. You can find it on the terminal as well as online an Apple, Spotify, and I Heart. Have a great weekend, everyone, This is Bloomberg