The FAA Halts Flights and More Apple Changes

Bloomberg's Mark German on all of this week's scoops, and well, where are the best companies to work for other than with us? Right here? Glass Door just came out with their annual list, but some of the Silicon Valley darlings they did not make the cut this time. The story of the day was flights grounded throughout the nation. Pre market we were lower. Most of the airlines actually, look at that screen now so much green. Many of the airlines recovering at the market open on Wednesday. Just a

single name down in the road with Southwest. You know a lot of problems to Southwest coming out of that storm and busy holiday period, down seven tents of one percent. There's so much to discuss here. What on Earth went wrong. I mean, it's a technology story and it's very hard ed because the systems of Love, as the ticker is known Southwest, have been a key thorn in this side. But now the Federal Aviation Administration halting thousands of flights nationwide,

as you just saying. It all happened early Wednesday, and it was a pilot notification system that exactly failed. But now we've got lawmakers worrying about investigating this and they want to see how this is going to influence course some major upcoming aviation bills that are going to be

assessed by these lawmakers. It's bringing George Ferguson, who's our senior airline analyst over at Bloomberg Intelligence, and George just tell us exactly what failed, what went wrong from a tech perspective here, and so the no term system noticed.

The Airman system is a system that does so many the information to flight crew, lets them know what what outages there might be at the airports they're arriving at, right, they might arrive at an airport that doesn't have an instrument approach that's working quite right, lets them know airspace restrictions. So it's I mean it's all about safety. And so

that system seemed to be broke down earlier today. And when that happens, I think out of an abundance of caution, they stop all flights because they can't be sure they're feeding flight crews the right information to go into uh you know, airports all over the country. And so that was the breakdown, probably a technology breakdown. I don't think it's people. I think it's you know, they collect this information from flight service stations around the country, uh, and

then they disseminate it back to the pilot. So it's a big sort of collection and dissemination uh, you know process system, right. Um, So I think that's what probably broke down. George, I'm one of those guys, you know, I walk out into the street, I look up in the sky, look at the airplanes overhead. I marvel about what's happening every day of the year, hundreds thousands of flights all around the world. Old. Is it just that we rely on an archaic system to manage all of this?

I mean we're talking here about this technology as somebody that researches looks at the fundamentals of this industry. Are you really concerned was this just an unfortunate glitch. I think it was an unfortunate glitch. I think I think, Um, we won't continue to see problems like this, but we'll always see tech problems in this business, right because the tech is kind of always catching up with the business. I mean, we've we've been flying airplanes for over a

hundred years now. Really commercial air travels come, you know, come into its golden age mid last century. You built systems. Those systems need to migrate over time. People that know I T systems know it's hard to plug the newest technology sometimes into the old technology. That migration is a challenge. Um. I've heard that there was some work being done in the no TAM system, so maybe that was part of

the challenge here. But it's always a constant migration of bringing old technology to new bringing the best to the front. It takes time in the government doing it, and they don't always have the most minded to do it, so it probably moves on a slower scale than business. George ferguson bloom meg Intelligence, we thank you. Edit Do you actually do that? Do you actually like walk out and

go wow? I do I'm a business traveler. I'm somebody that you know, I'm fascinated by the underlying technology of something that every single day you look up and when something like this happens, is a consumer is a technology? Does you ask what we just started? George? How on Earth or something like that happened? His answer, probably a glitch, you know, It's just it's incredible. Have they tried turning it on and off again? Right? Moved to the cloud? Whatever?

I love her to Your Eneggie just brings me so much joy. Meanwhile, let's let's kick out a little bit more because we've got to talk Apple and it's planning to start using its own custom displays and mobile devices as early as and on top of that, maybe in the future those devices with those screens you can touch them even on a Mac computer. Let's bring in on the scoop Generator. That's Mark German and Mark, I mean

you're out with another one. That start with the Macnews because I thought that Tim Cook was going to follow in his predecessors viewpoint on this and not want to have touch screens on computers. This is very significant. Now they won't fly, so ED won't be able to marvel at them in the air, but they will get touch screens right. Apple has a project. They have multiple teams working on effort to bring touch displays to the Mac for the first time. This is the first time where

they're actually serious about this. They've explored in the past, but work has ramped up on these new machines and this is a big u turn from what Apple has done in the past. They've talked about how the iPad is the best experience for touch. They talked about how mac os, the Mac operating system doesn't work well with touch. They talked about the ergonomic concerns about that, but the reality is is that consumers want touch. The Mac can run iPhone and iPad apps now, but they don't have

a touch screen, so they don't work very well. Kids these days have grown up on touch screens, iPhones, iPads, Apple watches, Amazon, Kindled table, It's you name it right. The next generation of people who are going to get laptops and desktops, get computers, get max they are used to touch. So Apple has to think about that new generation and that learning curve and what this new generation

of potential buyers is used to. So touch displays are important to the future of the Mac, and that's why Apple is going to go down this road in a few years. Let's pivots your other big scoop, which is the starting with high end Apple Watch and later the iPhone handsets, Apple wants to move to in house technology for the displays. Uh, you know the currently l G and Samsung are the big supplies when it comes to those displays. What have you learned in the course of

your reporting? So right now, the iPhone and the Apple Watch, both you use what is known as an ol end display. Those are supplied primarily by Samsung. They get some from Japan Display LG. They're also working with a company called BOE in China and source displays from there too. But that underlying technology that's made by those manufacturing companies that make those displays, right, Apple can tweak and customize them. The underlying technology has not been developed by Apple. Now

they're developing the underlying technology and that manufacturing process. So now no longer will Apple be competing with Samsung but also sourcing parts from Samsung for one of the most important components inside of their products. All right, bloombergs Mark German, thank you very much. Well, let's talk about some progress being made when it comes to executive searches, Walt Disney in fact electing a new independent director, Mark Parker, as

the chairman and the board. Now. Parker already been on the board for seven years now and he was, of course still executive chairman of Nike. Says some big roles he's got under his belt. He's succeeding Susan Arnold, who will not be standing for re election. Student too, what is a fifteen year term in it under Disney's board tenure policy, shares likinginess. I mean he had a cool, storied career over at Disney, I mean over at Nike now, says a chair. But his main priority, ed, he says,

is to be getting a new CEO. Who is that going to be? He says? Already the searchers upon it. There is a so a deeper story here, which is that Nelson Pelts and Tree and an activist investor we found out in November eight million dollars state they were trying to get a board seat and the board rejecting that idea. But the reason why is that Nelson Pelts and Tree and they did not want Bob Iger to return as CEO, which again was a shock in itself

when those headlines broke. So there's things happening behind the scenes here at Disney, but at least they have some certainty now about the new board chair chat GPT. Yes, we're talking in again and there's a lot of fanfare around the AI powered chat pot that's gone viral in recent weeks. But there's some negative connotations here potentially posing propaganda hacking risks. Now, this is all according to a

report published by researchers on Wednesday. Here's the thing. Two of those authored the study actually worked at open ai, and one of them, however, has since left there. Not for profit and blog accompanying the report stated quote, Our bottom line judgment is that language models will be useful for propagandists and will likely transform online influence operations. Joining us now to discuss the risks as well as the positives,

the use cases, the future of the technology. Street Or Ramaswamy, co founder CEO of the ad free private search engine Neiva, and we're going to go into the what Neiva does and the way in which you use natural language in a moment, you know, but just talk to us first and foremost about what you made of this discussion about the fear of propaganda about misinformation being used within AI because also on the flip side, there's a lot of positives the way in which you can actually uncover who's

behind certain cyber attacks at least two. So large language models are one of the most exciting developments in the last few years. These are models that have been trained pretty much on everything that's been written down, everything that's on that page. Um. The results of that is that they have enormous fluency. Can ask chat DPD too write a look form or a story and it will do an amazing job. Um. It doesn't know right from wrong or truth from falsehood. So you know, the word that

we use for that is halstening um. But it is incredibly prolific. I think of these large language models as savants. Um. They can say very convincing things. They can say things in the voice of somebody like you're writing if you give it enough of a sample. Um. So it's not surprising obviously that they can be used for propaganda or misinformation. That's a problem that we face online anyway. I know what I see something I always look to see, well,

is this from Boomberg? Is this reputable? So I think those kinds of risks are going to go up, but I think there's also a lot of positive potential that

come from these models. Do you know what's interesting is we went to our own audience earlier in the day using Twitter a pole, and we asked them, look to these sorts of reports about the ability to incite propaganda put you off from using chat gypt Interestingly, most still say, look, they're going to be continuing to use it despite these reports. But about said, no way, I'm not going to be

using it from your perspective. Is this where you step in Because one of the fixes perhaps that neither has for chat GPT is by allowing us to know what the sourcing of the information is that we're reading. Yeah, that was one of our big goals. We wanted to integrate the fluency of these large language models into search. Right now, search is pretty hard to put in a keyword. You have to go click on a link, figured out what's there, um, and then come back maybe it goes

somewhere at else um. So we wanted the fluent answers of chat GPT, but we wanted to be done in an authentic way. So we set out to make sure that every sentence he wrote had its source clearly put there, so there's a citation. UM. We also wanted to make sure that we could take into our count real time information.

This is what we launched earlier UM last week, and it's been exceptionally well received because two of the biggest problems that GPT has old information it's sort of hallucinate, sort of makes a fact or addressed to a large degree by our ability to combine a search engine, which is all about finding you authentic, believable information UM with

the fluency of a large language model. So we are at the very much the beginning inning of how large language models are going to be integrated into various functions, including search engines, so they can be put to very very positive views. Just like the Internet. The Internet is great for finding things, but obviously a lot of misinformation and bad things also happened, so we should think of

these language models as being the same. But it's a tool. Hey, Sea, we're so grateful for you joining us from Munich, Germany or attending d l D. I know you're surrounded by people who understand the underlying technology, but there are so many people out there that do not, And I know that it's not straightforward, but could you try and explain to our audience what large language models are in Layman's terms,

how do they work? Yeah, so language models understand the structure of how we write and speak um, and you should really think of them as this intermediarly. Just like the keyboard takes the strokes that you put on it and produces sentences, these language models can take your input, um, but they're able to respond back to you um with writings off their own because they've been trained on so much text. UM. But these writings by themselves, like don't

always have meaning. If you ask you to write a poem, you know, should it will write a poem. It will be fun. On the other hand, it might not know true from false, or like what is a fact and what is believable and things like that. So this technology is very much developing, but right now you should think of this the same way, um you do. You think of like any interface or you know, like an interpreter um that can listen to you in English and translate

it into into German. They have that kind of a skill, but they need to be augmented with you know, other things from real world to be truly useful and those things are going to come up sew. We're talking about chat GPT for a reason, right because of the news cycle Bloomberg reporting that Microsoft is looking at investing maybe ten billion dollars into open Ai and chat GPT over

a series of years. And it seems like, you know, the common sense conclusion is that they would use chat GPT to improve being as a search engine, make it more competitive against Google as somebody that operates in search. You know, what's your read on that piece of news. Absolutely, you know, being as clearly a number two in the search space, and they want to leave pragu over, you know, just like we want to leave prob over and create

a better search experience. It absolutely makes sense that Microsoft would want to do that. Um. But we should remember that Microsoft actually a juggernaut in things like work communication, personal communication. Um. And these language models are going to be helping any time we write an email, any time we want to consume a document, auto web page. So the use cases for the language models are truly massive and clearly microsof us being very smart by making a

big early bet in the space. Should you make bets for living to your venture partner at Greylock as well as of course co founder of this business. Neither talk to us about where the money is being made in your business if you're not going to have ads, and and if we're trying to visualize what a language format would be in terms of search that gives you a perfect answer and not only the links to click on what what's the what's the money's been ahead? Well, so

this is real. It actually gets really exciting for Neiva because we have a subscription search engine, be said, or to create a search engine that was all about you, the user. UM, And we have a premium model. You know, people pay for premium features like being able to connect their email or works like to them, so our model is perfectly aligned. UM. I can imagine a scenario in which, yes, there is a chat like interface but some of the

sentences are sponsored. Maybe, UM, but I think the one answer format it doesn't really jive all that well with with advertising. But there will be other cases. You know, people are going to use these models to create like personalized advertising for each and every one of us. So you're going to lose some there are other places where you're going to live in as well. In advertisement. All right,

Suda Ramaswami really smart analysis of this. Nascent Space co founder and CEO of Neiva, thank you so much for joining. Now coming up, what's new in well Elon Musk's world, from new potential deals to being grand favorite at Goldman Sacks. Will have the latest and everything Tesla everything you need to know. This is Bloomberg. Now let's get to the news in the world of Elon Musk because sources say Tesla is close to a prelim deal to set up a factory in Indonesia, a nation where reserves of key

battery metals. Multiple facilities in the country could be serving different functions like production across the supply chain. That's according to one source, and the plant could produce as many as one million cars a year in him with Tessa's ambitions for all of its factories globally to eventually reach that capacity. But the deal is not signed it could

still fall through, according to sources. Meanwhile, Tesla remains of technology leader in EV's and three top pick in the auto industry for Goldman Sacks, with the firm emphasizing that the Inflation Reduction Act will have a positive impact on the EV maker. The brokerage maintains Tesla at a bye, though it cut its price target for the second time in less than a month last week to two five

dollars per share. That's down from a target of four hundred dollars a share a year ago, when the firm also called Tesla a top pick and to boot Caroline Elon Musk is the subject of Wednesday's Big Take, and what a big take? Was? The big take all about money or Musk Casa CEO. And he called himself, of course chief twit. What else has he called himself across

the years? But he might never reclaim perhaps the title as the world's richest person overall aid This entire take from Bloomberg is about the way which he paid a self basically, and the way he's being taken to task in the courts an example, the way in which he was compensated. And the whole point was he was compensated by options and certain ways in which he had to

meet certain targets. Huge growth in the share price. But for many a shareholder, they're basically saying, look, the idea is to lock you in and keep your attention on Tesla, but his attention isn't on Tesla. So the Moonshot awards so much money, lots of options, but he borrowed against it margin loans to invest in other things. When Tesla stopped was buoyant. Well it's not now, So now we're saying, well, what about margin calls? Will he ever get back to

top spot? A really fascinating read from our team at Bloomberg News. I mean, I think the only person who got to the wealthy heights that he did and then the only person who have lost it. What is it? Two hundred two hundred billion dollars? Welcome back to bloembog Technology. I'm Caroline Hyde in New York and I'm Ed Ludlow. Also in you special tree this week only for one week only though. Meanwhile, well the more updates aid at

the moment on FTX is bankruptcy case advisors. Well they found some money, indeed, about five billion dollars worth in casual crypto assets that may help repay creditors RESUS saving emotion anti us is here to explain, Well, how far this is actually going to go? Yeah, exactly five billion dollars is probably not enough for the nine million accounts that are owed money. At the end of the day,

and the bankruptcy advisors did advise as much. Caroline. Now remember that number, that sheer number of customers that they're dealing with here as they go through this bankruptcy process is important because of course there are of all different sizes. We know that they have asked earlier on to keep the names silent of especially the fifty largest which have

much more at stake. But at the end of the day, once you're spreading the love around the money back to the clients, it's not as much as you would get back as if you're going to be paid and whole. Remember also, they are also saying that above and beyond that five billion dollars, there are a lot of illiquid

sets here that they're dealing with. So in addition to the assets that they have said about five billion dollars or so, the question is how much is in crypto, how much is in cash, and how much of that is still worth five billion dollars at the end of the day. O pationally one of the more obscure headlines across the Bloomberg terminal. Salana based bunk in neu n f T surge tenfold after mint, but listing attracts criticism.

Very simple question, what is the controversy around bunk? A simple question without a very simple answer, because at the end of the day, Bonk, what was interesting about it is really when it made this n f T mint, if you will, And a lot of it happened on Magic Eden, which remember has been closely tied to Salana. They had recently raised money here. A lot of it

comes back to the purpose of the bonk itself. Of course, you have this idea here that the meme stock or the mean crypto crazes back in some ways the idea of having fun in the industry again, which even Mark

Cuban wanted. But what happened at the end of the day is after the listing here of the n f T s in particular and Magic Eden, a question then became very very straightforward and simple, that question of royalties and where it goes, and what controlled the exchange has over those royalties, as well as governance of the token itself that is uh perennially linked here in some fashion, but doesn't govern the n f T community itself or

the broader kind of what do you call it? There are many communities around here to think about but the governance of the of the n f T community and its relationship to Bonk has gotten very confusing after the listing itself has pursued. Not complex at I tried, but here it's only been a day. It is the reality. It was these it was fifteen n f T s here and again I want to reiterate here the purpose

was largely without utility. The purpose was largely for art, and so the governance and the royalties that are associated with them becoming as complicated as they are and therefore leading up to the decline and value of the bonk is important. Shanali, thank you for breaking that all down. Let's get back though to Salana based Bonk can actually here to discuss that story. Is Salana's head of strategy, Austin Federer. Thank you for joining us, Thank you for

being here with us in New York. Straightforward question to start, I guess what is Salana's response to all of this with the shale is just outlined for us. You know, the last half of this year has been a tough one for the global crypto community, uh and for some users on Salana as well. I think when you're looking

at Bonk you're looking at people having fun with blockchain. Again, it's a it's a meme coin that got air dropped to people two thousands and thousands of wallets on the ecosystem, and it's something that the community is kind of galvanized behind and been able to sort of dig into and really find a lot of fun in it. You see volumes pick up on the back of it. Is certainly

helping breathe excitement around Salana again. But I'm interested when yes, it's Joe, Yes it might be a feel good But when something has no utility and everyone at the moment is saying, prove to me the use case of crypto, Why hasn't just eroded wealth but in fact it's being built for a force of good. What are your response then,

when the next thing we're talking about is a meme token? Yeah, so memes are fun um, but memes are also a proxy for community, and one of the utilities of crypto that's often overlooked is that it is a system for galfanizing community. And so the excitement around Bonk is on

one level, Yes, it's a meme. Yes it doesn't actually specifically do something, but it is a it is a token of community, and especially after an ecosystem that's been through you know, a rough few months, Yes, to say the least, and let's go there because we thank you for coming on to talk about what is a rough

few months. Because Solana became very intertwined with the downfall of FTX with Samamma Reed had very much been sort of a driving force in some ways the Salana become so popular, but they held a lot of it and there's a worry that your price would fall on the

back of force selling. What's your experience how do you move past the fallout of ft X. Yeah, if you look at the beginning of November, a lot of the headlines were doom and gloom for the Salanta network, and what we've really seen since then, we're about what two months out from from that initial news is active addresses are up, more people are using the network than we're before. There's actually more validators on the network than before FTX collapsed.

So we've seen is the community and developers all around the world really come together and replace the parts of the ecosystem that had ft X involvement and then expand from there. So if you look at active addresses, each day,

Salana is higher than all other box chains. At this point, that kind of goes somewhere into answering my next question, which is, you know, the Salana network, there was the market volatility, the kind of lack of faith in crypto assets, cryptocurrencies, and then this is the debate about the underlying technology, right, and when it comes to the Salan network, I think the idea is security and resistance against sent to ship. How do you kind of restore faith in the technology

part of that story? Forget the markets for a second. Yeah, Well, the interesting part is the technology actually wasn't part of what happened at all, Right, from a technology standpoint, what was kind of you know, I guess perception is to the outside of perception, right, Yeah, But the fundamentals of the network are actually just the same as they were before, which is that Salona's vision is to be the fastest settlement layer for the global ecosystem, right, And whether that

means you're talking about fast finality of transactions tens of thousands of transactions per second being able to go through the network, what we're really getting at is a technology platform that can handle loads at other places, can't I have to ask you about Sam Bankman Freed the relationship or historic relationship between SPF and Salana. What are you doing to move past that relationship? How what is the

relationship in present day? Sure? So you know in about in summer of that was when Sam and ft F Scott involved in the Salanta network and they were building real infrastructure on the network that couldn't be built on any other blockchain network. Serum, which was a central limit order book built on chain. It was the first central limit order book deployed on a blockchain. That code has been taken over by the community and relaunched a something

called open Book. And so that's kind of what I was talking about about the community healing parts of the ecosystem that f t X and and Sam were involved in. I think moving past it though is really it's on chain metrics, right, It's that users are still here, developers are still building, and there's a lot of excitement around what's getting built on the network. And as well said that, you say building because in and of itself, the blockchain

isn't finished. It's not a final product. You're still iterating, still improving Salana. Just talk to us about Therefore, your own network stability outages that have occurred, which you know this happens when one bill is just look at the f a A today, talk to us about what you're doing to ensure that you continue to its rate, and

then it becomes a stronger product moral. So one of those biggest investments is a second validator client, which is really a second copy of the system that runs the network, and so that means if one system goes down, there's a second system that can can step in. That client is being built by Jump, which is a high frequency trading firm. So there's all sorts of additional benefits that come from that, such as high performance. So they're they're

testing system right now. It's been benchmarked at about one point two million transactions per second. I don't think we'll see something like that in actual production environments when it actually gets onto the network, but we're talking about a lot of performance optimizations that allow people to build new kinds of products and services built on blockchain that are

just as performant as the web. Two counterparts. Let's talk about products and services because that's what everyone's waiting for. The kill adapt the finally that we start to use crypto not just as an asset or a means of exchange, but something more with utility. Yeah, exactly what is what is the that you almost excited about? What are the areas that are being built on and one of the

aren't means. So if you look at two in general, apart from the price, it's very hard to not look at the price, but the technology is really why most of us are here. It was a breakout year for blockchain globally. We saw web two companies for the first time build real user facing products. They've all had some back end experimentation for a while, but you know, from Google to Amazon, to Meta to Starbucks, they're all launching

products built on blockchain at this point. And so the types of products and services are starting to become much easier for people to engage with, and they're starting to be things that change the relationship from I have to understand exactly how a blockchain network works to use this to something that's that's getting closer to the experience of downloading and app and installing it. Austin, great test in time with you. Thank you Austin for the here's a Salana,

head of strategy. We thank him. Meanwhile, coming up the rise of women's healthcaps with the Camel, co founder of Peppy, just raised forty five million dollars. Even in this environment, this is Blomberg. I think, you know, actually the jury is out a little bit on exactly what telemedicine has

given us. I think it's solved a couple of key gaps, but a lot of the telemedicine swing in particular has swung back to in person and a preference for in person, a recognition that a lot of patients need in person procedures and care that requires physical um, the physical presence

and a physical infrastructure. That being said, I think especially in pockets of of our ecosystem, including the way in which we run clinical trials, the availability of virtual care, and the ability for patients, UM and providers to connect, make decisions, take steps, try new therapies and monitor UM you know, patient performance on those therapies telemeds. In that

discussion point with Andrews and Harrow, it's general partner Finita Aguala. Meanwhile, well, the healthcare platform Peppy just announced a forty five million donor Series BE funding round is led by albim VC and plenty of others at that tier to discuss. It's the co founder, co CEO and PhD Mao Della Paray. Thank you so much for joining us at the moment, Madela, and talk to us about your vision for Peppi. You're using forty million, it's going to be investing. You're already

pretty forceful there in Europe. You're coming to the United States. What sort of offerings are you providing at the moment, High Caroline. So, what Peppi does is we provide support two employees during health stages in their life which are very disruptive and can be disruptive to them both at home and at work. So you talked about menopause. That's certainly a big product of ours and what we will

be launching with in the US. But we've offered we've also launched other services around episodes that we've seen in the market, things like going through a fertility journey, becoming a parent, and then we've also launched our mental health service, the first of its kind as an employee benefit and also women's health service, and we'll be bringing some of that to the US as well. So you already got clients Accenture, Adobe, Canada, Life, Disney to name but a few.

What's the growth are you seeing, particularly as we worry about a downturn in the economy, we think about perhaps companies putting back on benefits. What do you say to that sort of narrative. So we've seen as a business, like you said in in Europe, we've grown almost four x UM this year, and what we are really seeing is companies taking much more seriously the reasons that keep people, um, maybe out of the workplace, absent from in the workplace,

or less you know, causing present heer is um as well. UM. Really, when you look at these factors such as fertility, becoming parents, menopause and so on, or maybe living with a long term gynecological condition, the business case kind of speaks to itself. None of these are niche things. So, for example, in the US of the u S workforce are women aged over forty five, typically the age of which you would expect to see menopauseal or perimenopause or symptoms appear with them.

So none of these are niche. They're all hiding in plain sight in any organization of any size, and that makes the business case for itself. Talk to us just basically, how your tech company in and of itself then, because you know, we think about treatment. We were just hearing from A sixty and Z talking about how people perhaps are returning to wanting to have face to face in person meetings with some of their clinicians. How are you seeing that you're solving a problem that wasn't solved before.

So what we realized with Peppie is that, yes, traditional healthcare does a phenomenal job at the point at which you are walking into a doctor's office, be that virtual or physical. And as many that were saying, you know, people are wanting to return back to physical and that's necessary in so many cases, whether that's the examinations, diagnostics, etcetera. But upstream of that, there is a huge gap, and that is a universal gap, regardless of what health care

system you're in. So think about you know, when you first out have concerns, questions, niggles about your health, there's often weeks, months, sometimes even years before you think that's concern is big enough that it warrants the effort, the time, the inconvenience of going to see your doctor about it. That's really the gap that PEPPI is filling. So what we do is we provide access to expert support. So typically nurse lead, nurse practitioner lead, but they are experts

in these areas. So whether that's menopause, their women's health specialists, whether that's fertility nurses, whether that's midwives for baby. What we can do with Peppy and what the tech enables is for you to communicate with those specialists in the way that suits you best. And that could be a video console, but there are so many other options. You can chat to them, you can join virtual events. We have of our own content team that works with our

clinicians to put out written video audio content. So you can imagine the barrier to actually accessing help with Pepper's really low, and that's what the tech is enabling. It can be a simple message sent off when you're waiting at the bus stop, or you know, just because when you think of something at BED you browsed through some content, but always with access to real health care professionals on

the other end. How hard is it moving from European healthcare provision to US healthcare provision navigating a different regulatory landscape? How do you envisage that? Yeah, so the regulatory roundscape is a you know it's certainly something that needs navigating. We are now able to offer the Peppy service in all fifties states, which we're really proud of for our clients, and that's important for our clients. As you mentioned that

some of the leading enterprise as globally UM. That is one difference, but like I said, the really the need that Peppy's addressing sort of independent of what the health care system is. Recognizing that the US health care system and I lived in the States for a while, UM is very different to what a lot of what we've seen in the UK be that NHS private medical insurance. Like I said, Peppy's designed to complement and supplement traditional healthcare.

We don't overlap, we don't replicate the services that you would get from your doctor, from your specialist or a

primary care physician. Really, what we're about is helping you in that time where you maybe don't need a doctor yet, or nudging you to go and seek that care if you're may be hesitant or not sure or you're you know, our practitioners think that there's something to be concerned about, and also being there for you when you come out of that medical care, be surprised you're able to raise this money in this environment or as health care fantech just in its own niche At the moment, I'm delighted,

I mean, especially to have the you know, continued support of our investors, some of whom have been with us for a number of years now and Albion who've known us for a long time, as well as some of the others that you mentioned. Look, I mean we raised this round in a context where the business was growing incredibly well. We grew a tex one, we grew almost four x in twenty two. Yes, the market is more difficult.

I think there is much greater scrutiny of our financial financial performance you're and so on, But underlying, you know, the numbers really did speak for themselves. Great has some time with the peppy co founder of course, doctor or PhD as we called Chicoli Jolla poor a stay well thanks to staying up late over in the UK as well. We appreciate it going viral. It is glass doors Analysts are the best places to work. This year, forty one of the top one companies were still surprise, but some

big names matter. Apple Zilo not in the top one hundred anymore. You have to go back to two thousand nine, the last time when records began for Apple to not be in the top one meta two thousand eleven, layoffs, changing times, changing names, Mark Zuckerberg, under pressure. It's a different it's a different companies the one you and I've

been covering over the last decade or so. And what's interesting the meta though, is that they haven't changed their work from home policy, and some would say, particularly the CEO of glass Door, was calling out that actually, note of the winners are the ones that are more flexible in their working approach, still giving the good benefits. So it's not that that's hitting metal. Although Apple did change its work from home approach, they're wanting people to come

back three days in a week. I wonder if that sort of in some way affecting. And then I wonder what game site is really of what is it? What are they doing? The making groundbreaking? And it's interesting in video. And then this is cat shout out my California people in an out Burger in the top ten places to work.

Not a tech company, but interesting to see nonetheless, and Google a store work, I guess, and I would say in an out burger important because female CEO and actually, when you go to the list of the top CEOs on class door, you have to get till number twenty do you actually get the CEO is deemed one of the best and a female. So that's interesting that some of these companies are still coming out top but they're female leadership is singing. There's a long way to go

in that respect. You great chat, but that does it for this addition of bloom Meg Technology, You're going to stay tuned for Tomorrow Thursday. We have Kate Ventures Managing director Monique Woodard. Don't forget check out your podcast apples, Spotify, our Heart, wherever you get your podcast has been fantastic. A few days in New York. This is Boomberg