From the heart where innovation, money and power Collie in Silicon Valley, NBN. This is Bloomberg Technology with Caroline Hyde and Ed Ludlove.
I'm Caroline Heine blumgg's world headquarters in New York. Ed Ludlow, He's off today. This is Bloomberg Technology. Coming up, we will go live to the Manhattan Federal Courthouse where the opening arguments are set to begin for Sam Mcmanfreed's historic Ford trial. Will have the latest for us. We'll talk investing in generative AI with a key hedge fund investor.
And of course we're going to go live to Alphabet's Made by Google event as the company takes on Apple with a new pixel that's well more like an iPhone. But let's go back to the crypto story today. Because it is a historic moment. A jury has been selected. Opening arguments are set to start today for Sam batman Fried's trial, where he's accused of orchestrating one of the
biggest financial frauds in American history. Joining us now from outside that very courthouse with the latest new Oceanani BASEK and we'll get us up to speed with who's going to be listening in on all these oral arguments.
Yeah, it's a good point.
We are just getting an idea of what the jury will look like. Here you're looking at a nurse, a physician assistant, a social worker who is currently unemployed and has previously served on a jury before. Who are looking also at, you know, folks who are retired corrections officers, other high school graduates. Advertise, you have a mix of
people here. You have a number of jurors here that again have been very heavily questioned here over the last twenty four hours Caroline about whether they have preconceived notions about cryptocurrencies and other parts of Sam Bankman Fried's world, like, for example, effective altruism. That's another thing that the jury had asked to make sure that there weren't going to be negative vibes coming from that jury headed into this six week trial with very serious criminal counts being faced
by Sam Bankman Freed. Now, as I stand outside the courthouse, the jury, as we say, has been selected. We know generally who these people are, what they do for a living, how they have been questioned. The opening arguments are starting
imminently as well. We will hear from the prosecution really for the first time to lay out their argument, and more importantly, we don't know how sam Bankman Freed prepares to defend himself against these charges and will hear from them as well in a series of thirty to forty minute remarks from both sides.
Of course, thirty one year old pleading not guilty to Watford conspiracy to commit Wildford's securities fraud. The list goes on Shanali, it's quite a changed samm Munfried who entered that courtroom, much slimmer and change well, certainly from a half perspective, but how do we think his demeanor has changed.
In a lot of ways. It's to your point, yere A lot of people have been talking about the way his appearance has changed. He looks noticeably thinner, according to the Wall Street Journal. He has also been dressing a lot differently, buying suits from Macy's at a forty percent discount. Remember, he was known for that T shirt and shorts and even flip flops in front of even world dignitaries in the past, but now he has suited up. Indeed, as he enters court himself, we'll see. We don't know that
he will necessarily testify. He's not going only expected to testify and what tone he would take if he would, but again much more silent. We are not used to Sam megmin Fried being so silent leading up to these charges. You remember just how much he had taken to the media to describe what had happened at FTX, and ever since then it's been nothing but silence.
And so this will be a telling trial.
Remember after those opening remarks, which will take about an hour or so here, we will also start to hear from witnesses and that will start to get very important as we know that number of his closest friends and colleagues over time are expected to testify in this trial.
Important for the individuals, important for the industry. Liquidity in the digital asset market's still only half of what it was before the FTX collapse. Shanalo Bassak on the ground there for us all day. We thank you for it. Meanwhile, coming up, we're going to get the outlook well for what we're all now talking about. If it's not crypto, we're talking about AI investing and discuss why Apple CEO Tim Cook just decided to sell five hundred thousand shares
of the iPhone maker. Let's have a look on Apple stock of course. In fact, it seems to be timed along with the downgrade Key Bank. The analyst over there saying it's high valuation, weak sales outlook. The analyst really worrying about the stock's valuation is a large premium to the naws that they say us sales. They'd like me to struggle will have more ahead, still managing to tread water up three ten percent on a day where the nasack is up more than a percentage point. This is
a BlueBag technology time now for talking tech. First up, Apple CEO Tim Cook selling shares of the iPhone maker. In his biggest sale and more than two years, Cook sold five hundred and eleven thousand shares that's worth about forty one million dollars after taxes. It's all according to a filing with the SEC. So all comes after Cook took a rare pay cut about forty percent to just
forty nine million for twenty twenty three. Meanwhile, Intel is planning to make its ALTERA unit into a standalone business and take a public The Programmable Chip Division will become an independent entity starting January first. It's all part of the CEO pat Girl Singer's efforts to really try and ring more value from the semiconductor company. Meanwhile, let's turn out at Touch to AI because Masayoshi Son has a message for Japan. Adopt artificial intelligence or got left Behind?
Was a soft bank founder's first public appearance in months at SoftBank World. It's an annual event for the tech investors domestic corporate clients. Now, the billionaire compared humans with that AI to goldfish just in a bowl to process information like language. So let's talk more about this AI euphoria, AI necessity and how to play it. James fishbacks with us. He's the founder and chief investment officer of Zoria Partners.
It's global macro hedge fund PROJECSORI. Of course you are with macro investing over at green Light Capital, and James, wefel with your focus on all the ways in which you could get long AI. Is it about smaller companies bigger companies? How do you play this.
Well, Carolyn, it's a real pleasure to be here. Let me say that to Marsh's point, my name is Fishback, so I am the goldfish in this equation. So I'm trying to figure that out. But I think the way to look at This is to look at some of the companies that have the best balance sheets, the best markets, and existing user workflows and ecosystems, and then monetize off
of that. At the risk of sounding like Steve Jobs in January of two thousand and seven when you launched the iPhone, the types of companies you think you really want to look at in this environment are the hyper scalers, the ones that are providing the cloud computing infrastructure, the amplifiers of this technology that can then deploy it to existing users and devices. And the innovators, those who are either developing or are strategically partnering with those who are developing.
And so, much like Steve Jobs said, these are not three separate companies. In many cases, there are actually one company. In several cases, Microsoft is one of them. I believe that Google and Amazon are others as well, and so it's a unique opportunity to own strong cash flow generative businesses that offer embedded optionality to capitalize on the AI boom.
Interesting that it really seems to be being owned by the United States at this time, James, when you're thinking about what's happening with Microsoft's partnership with something like an open Ai. How do you see these sort of frenemies continuing. How do you see the companies striking these We just had Amazon of course taking a big stake and partnership as well with other key players in the space. How does that accelerate? Is that just the way in which you want to see deals being done?
That's exactly what you want to see. You want to see key innovators of this technology, like Anthropic, like open Ai, have strategic partners in Amazon and in Microsoft respectively to then deploy that technology. Look at Microsoft today. Their three sixty five copilot product is now being opened accessed to one hundred and sixty million enterprise users who can now use it to expedite workflows in Microsoft Word, in Excel,
and in PowerPoint. And so you now take users who are already used to Microsoft Word, already used to the existing workflows that they have, and then you're super charging it. You know, if I wanted to go to a Fortune five hundred company and sell them phishback Ai and say it's the best worst word processor out there, I couldn't do that because I don't have those kind of relationships.
Microsoft has a moat in this market. They have their relationships, they have the trust they're going to drive value for enterprise players and as a result, they can drive pricing power longer term.
Do you think then there's a risk any of these really big and in many ways companies trying to fight the monopoly oligopoly name that keeps being thrown at them. Is there only risk they get displaced? I mean, in the same time as the dot com boom and bust, in the same way that we've seen some business models just eroded. Are all of them ahead of the curve or any of them at risk of losing their mantle?
You're absolutely right.
I think there's reason to be skeptical Caroline by what happened in early two thousand with the dot com bubble. But there's a couple key differences here. One is valuation. The peak valuation at the dot com bubble was fifty two times earnings for these average tech stocks. The average AI tech stock today at the top of the list has a pe of around twenty five times. And that simple comparison is to say nothing about the strong fundamental
position these companies are in. As they said earlier, they are free cash flow generative, they have strong balance sheets, They have simple, predictable businesses. They don't need to rely on debt and equity markets, increasingly a debt market that's seeing rising interest rates. It seems like every single name day now to fund the aggressive R and D behind this.
So I think they're doing all the right things Microsoft with open Ai, Amazon with anthropic, Google with deep Mind, and its own internal operations to then power this forward. And the thing that I'm most excited about is these companies already have billions of existing users and device ecosystems that they can deploy this new technology to pretty much overnight.
So you don't have to make a lot of assumptions here to see how powerful and how impactful this technology can be, not just for the end user, but also for their fundamental share prices.
And it's allowed the NASDAK to really reapin the rewards for this year. But September was really ugly, James, and September was ugly because of the macro picture, because of the warrior, what the Federal Reserve is going to do, how we tame inflation, a very strong jobs market. How do you think these big tech bets can withstand a higher for longer scenario.
That's a great question, and there's no doubt about it. The macro picture over the past month has been challenging, to say the least. Look at what's happened to thirty year treasury yields in the US and the higher for longer hawkish narrative coming from the Federal Reserve. I think the key thing to note here is that the aiview is not a multi quarter view. It is a multi year view, and so if you look at some of
these companies, they have the potential to compound. In the case of Microsoft, it's compounded at twenty five percent over the past decade year over year, and that's despite all the macro volatility both in the real economy and the financial system we've seen. Yet at the same time, it's important to look at what this opportunity presents long term.
I think a key assumption Caroline in this space is that higher rates is actually negative for this type of narrative for big tech going higher, and I don't think
that could be further from the truth. And here's why companies like Apple, who issued thirty year debt at a mid two percentage rate back in twenty twenty one, that have turned out debt in many cases for ten or fifteen teen years have strong balance sheets, are seeing higher rates, but are not actually seeing higher effective interest costs, one
because their liabilities have been fixed. The large issuance in twenty twenty in twenty twenty one that was of course aided by quantitative vising at the FED and by their libit by their assets rather which are actually increasing in value, as in the case of Microsoft one hundred billion dollar balance sheet is compounding in line with Treasury rates at three to four percent.
So I would push.
Back against that narrative just a bit and view opportunities like this as an opportunity to actually get in some of these positions and develop a longer term view on where AI is going to be in three to five years.
Really thoughtful. Thank you for laying that out for us.
James Fishback of Azoria Partners, Well.
We know that Alphabet's Google is be going head to head with Apple in many ways for years when it comes to hardware, but really it feels head on right now. The new Pixel phones have you seen them? They're kind of more iPhone like than ever before, particularly when you're looking at the price point. Bloomberg's chief correspondent Mark German, who has all the insight track around these products announcements,
give us your thoughts. What did you make of some of the updates the camera, the way in which they look and feel.
Yeah, I mean I think Google is continuing to push out pretty impressive AI driven products. The new Pixel phones the Pixel eight Pixel eight pro very impressive new camera, features, new G three tensor processors. This is their third generation custom processor. A few upgrades here that make it a little bit more like an iPhone. Surprisingly, the facial recognition on the previous Pixel phones, at least the last couple generations, they weren't graded security wise high enough to be processed
for payments using your banking apps. Now they've up the security on that, as you know, FACESIDD on the iPhone since twenty seventeen has had that.
Level of security.
The design of the Pixel phones continued to be some of the best smartphone designs on the market. It but
the trend continues here, right. Google is pushing out some really nice hardware, great software integrations, probably some of the best Android phones you can get globally, but that really hasn't translated into really strong amounts of market share, right, So that's the problem Google will continue to grapple with at least for the foreseeable future, making really good phones and really good hardware products that are just not selling
as well as their competitors from Samsung and Apple. And that's what Google now.
Has to figure out.
They have the right hardware, how do they get them to sell in those bigger quantities?
Well point, we think Google has about three percent of the smartphone shipments during the second quarter according to Counterpoint Research. Great and asks some chief correspondent Mark Gum and we thank you as always for running us through well what the products like? And he liked it. So let's talk a little bit more about what's in this product and
how they do take on market share. Shanazzach is with us judge on product management Full Pixel at Google, fresh off the stage where you presented, what are these big upgrades to the phones? And look, I've been agnostic for years. I had Pixels, had iPhones, and I'm interested as to whether you like or dislike the idea of becoming more like an iPhone.
I wouldn't compare that because I think Pixel are the best phones or Google, especially bringing the hardware plus the software, plus the best of AI from Google into people's hands, and that's how we think about our phones. Of it's bringing the best of Google in people's hands.
What about the best of AI? It does seem to be something people are now referencing far more within their product detail. I mean now it's because finding a consumer really understands it. They can touch it, feel it, use it. When they're using Bard for example, how will that be interwoven to make it that much easier product to use?
So when Pixel started seven years ago, even at that time, AI was a core part for Pixel and we continue on that line, and as you saw in our announcement, we have AI or with our supported by ATTENDSLG three across the phone, including our integration of assistant with Bard that will be coming soon.
It's interesting that, of course, you have pushed up the price point. What is it? I've owned fifteen pro now same as the Pixel eight pro nine hundred and ninety nine dollars. Is the consumer ready for that price point? I mean, how did you sort of test and feel that that was the right amount to be charging.
There's a lot of testing we do. But as you can see in our phones, you've upgraded the hardware. We have a completely new camera system. We are also had a lot of software, and we're also supporting the phones for a longer period of time for seven years of OS support security feature jobs. So that's how we think about our phone.
But it's interesting, therefore, isn't it that we're going to supporting them and for longer so people might not need to renew for longer. How do you start to inch away at this market share that is Smart pointed out, it's sort of surprisingly low considering the integration of software and hardware.
So from Pixel and Google's perspective, we do want people to use their phone longest, and we see that people are using their phone longer, right, and so it's part of sustainability, so it's important for us, and so that support was natural for us to help our users support their phones for a longer period of time.
Overall, when you're thinking as well about some of the not just sustainability but security that people want to be seeing, you have been up in the ante when it comes to facial recognition. Are people going to be frustrated that it took so long or what actually goes in too needing to ensure that you can qualify for those sorts of levels of security.
In terms of the phone, our phones always were secure. We had our titan Ship and our phone security was supported for five years, so it's we are upping that to seven years. And yes, they are one of the most secure phones out there.
What do you think it will take to get the market share higher? Why do you think there has been reticence? Has it been? And just because people are used to the iPhone ecosystem, it's harder to drag them out. Is it more that you therefore, folks sort of an international consumer, particularly you've made real inroads in Japan for example.
That's right.
Pixel is the fastest growing smartphone in our markets, and it's the only phone that grew in units sold your over years. So we're definitely seen that and we're looking forward to more of that, and especially with all the AI features and all the amazing hardware and software, that's what we're going after.
How are you thinking internationally about your supply chain as well?
In terms of supply, like you mentioned it, Pixel is doing very well in our international markets in Japan as well, and so that is a core focus of how do we make sure that you know users across the world in our markets get our phones.
What about ultimately building the phone because there has I think of an Apple that's had to really rethink the way in which its product is made, where it is made, in this global landscape where suddenly China in US just aren't getting on in quite the same way, how do you think about with sustainability on the one side, also supply chain resilience on the other.
So, like you said, sustainability is a big focus for us, and it's been a years in the making. It's not something they're doing right now. As we announced on stage, actually on sustainability. This is the first phone which is free of plastics. So sustainability where it's made, how it's made, is a key has been a key focus and is a key focus for us.
And a lot of this is also about well the entire ecosystem, not just a supply chain, but also of what you're offering alongside the air buds, the watch, the way in which you can interact across all of the software.
Two.
I mean, you're someone who's been in Google now for seventeen years. I think it is what is it that makes you so addicted to continuing to build with this company?
The people, the people I've been at Google for some I grew up with Google, and I you know, it might sound cliche, but I do love the people that I work with. They push you to think well, that push you to do the right thing, and that's what I really enjoy about working at Google. The people around us.
Well, we're thinking about your product todation as Zach, thank you very much and Nei for joining us. We've got a few more of your people on the show a bit later, Director of product management for Pixel at Google. Great to have thank you, thank you for having me. Welcome back to BLUEBG Technology. Let's have a little turn our attention out to VC Spotlight and bring in Morgan bella partner at NFX Capital Management who was also one
of the founders of Facebook's cryptocurrency project Libra. And remember that one she was building one of the first stable coins. You've ridden out what has been sort of the highs and the lows of how crypto more broadly is seen not only by a consumer, Morgan, but also by a regulator in the US. I'm interested is we do start to see the time of sound backman, freedom court, the pain points relived for so many How are you feeling
about the cryptosphere in which you're investing. Is there activity going on, particularly in the startup community.
Thank you so much for having me on.
I have a potentially not popular opinion on this, but I am so much happier investing in crypto today than I was twelve months ago, even you know, before the FTX scandal. And a question that I've asked other crypto founders is do you think that there's a chance that we look back on this FTX mess as a positive? And people looked at me kind of like I had five.
Heads, But let me explain why. And I think it's ft It.
Was crazy out there and the laws of gravity were not thought to apply to crypto, to crypto startups, and what FTX forced us I people in the crypto industry to ask ourselves an answer. I think we're three straightforward questions that we all should have been asking regardless, which is one, does this company solve a problem for anyone or this product?
Two?
Is anyone using this? And three will this make money? And there were so many companies and there are so many company needs that were funded that are funded that don't answer one of those three questions, let alone three of those three questions, So the party that was.
Going on had to come to an end.
The FTX way of it coming to an end was the most dramatic way that that could have happened. But I really do think that there's a chance that it ends up being a gift for the crypto startup world, for the companies that are solving real problems, which I know is not a popular opinion, but I do believe.
That we won't contra INDs Mogan, and I'm interested in even if this happens to be a cathartic moment for crypto. More broadly, all the builders building here in the US, all the problems being solved are is the money being made, all people using some of the dots and some of the applications.
Here in the US.
You're having to go to a broad for those of founders.
So yes, and we are definitely still seeing companies built in the US. I think what you saw pre FTX was everyone and their brother and sister was starting a crypto company because it was the gold rush. What has been filtered out now is people that are starting crypto companies are only starting crypto companies because they actually see a problem to solve and actually have a passion for the industry versus they just see a casino that looks fun. So I think that there's a filter now in a
good way for who's actually starting companies. And then, yes, people are using crypto applications, but if we're all being honest, like, the only application that's really achieved any kind of product market fit as far as scale is Bitcoin, ethereum and stable coins. When you're seeing development in the US, it's interesting.
We do understand, in fact, the trial for some of Manfred is underway, and we're understand the opening statements being made by Murfree and current the expressionists. We understand as the government continued with their opening remarks saying that the defendant wanted money he didn't have and he committed food. But Morgan, let's move away from that for a moment to the regioustry environment with which we're in, because you do have an sec chair chat who seems adam and
to police. Whether it's after these companies are built or as they're being built, and I'm interested as to whether that's really an environment people want to find product market fit. In the moment, I think it's.
An environment that people want to find product market fit in if there is like a market and a business to be built. But it's definitely a thorn for sure. And I think an issue is there are very few topics that rally both sides and that gain you favor on both sides. So if you're a politician with political aspirations and you're trying to win favor on both sides of the aisle, going after a crypto is one of a few categories that no one's going to really oppose you.
So the incentives and the psychology behind that are definitely not in crypto's favor, which is a bummer welcoing.
There's still technical time.
I mean, go in there then and get integritty with some of the problems you like to be being solved in this. I mean, what's getting you excited when you're getting up twelve months on then you're saying it's a far better environment to be writing checks into and in effects has a little money to put to work. You're already putting money into various so soought ups, whether it's space folks, space, I mean where they were Also in mister Lab's ramp is a company of cools that's all
about trading of crypto and our sets. Where'd you want to see some of these problems solved for you?
Thank you for those shout outs.
So stable coins still I I spent four years banging my head against a wall, so I still think that there's a lot of room to go there more from the US government by inside. And if you think that digital money is going to be the future, the US government really needs to recognize that and get on that, or else we're going to wake up and be living in a world with Chinese digital money running throughout the world in people's hands, which I don't think is a first choice for us in the US.
And then also just usability.
I think what you've seen with AI is Chat GPT had this moment with mainstream consumers. Crypto has not had its chat GPT moment yet. So something that brings net new users into the world in a real, meaningful, productive way is I mean, obviously the holy grail and I don't have any specific answers, but something we're always looking for.
Wow, We'll keep on waiting for the answer to mog and Mella come back with it soon, we hope. Partner at NFX Capital Management great tows some time with you today. Meanwhile, look, here's something else that we're watching. Founders of online delivery companies worldwide. They exploded during the pandemic in terms of they got a lot bigger, and now they're watching their
fortunes disappear. The group includes the founders of say, Turkeys Get here and Silicon Valley's Instagraart Door Dash, while they've now collectively lost fifteen billion dollars more than in terms of overall market valuation. Coming up, let's talk about healthcare tech. The startups Commya and athle ethelas they're merging to drive value for doctors and patients using the power of AI. Conversation with Tanay Tandon, CEO of Comya as he brings
those two companies together under his leadership. This is Boomberg Technology taking a look at Palenteers Shares for you today because the data analysis firm co founded by tech billionaire p Total of course, but it's closing in on a contract with the United Kingdom's National Health Service, the NHS. It could be a five year agreement which is designed to help the agency analyze medical data, detect suspicious patterns,
ultimately overhaul its entire system. Now sources say the government is on track to announce Palenteer as the winning bidder as soon as this month. Now, from one Tolkien inspired name to another, in the world of healthcare, two healthcare startups are forging a new path using artificial intelligence to become a health operating system data platform Commere and athel Us, which is also from Middle Earth, which builds remote patient monitoring technology, will complete a merger by the end of
the month. Joining us now is Tonay Tan and CEO of Comure, who was of course leading Athelus. And I'll ask you with the ny Tolkien is such like big part in all these naming of these companies. But today, ultimately you're trying to use AI to make healthcare more well efficient in the same way that Palenteer might do with the NHS.
Correct, that's right.
And first of all, I'm impressed you've got the Lord of the Rings reference. Most people don't, But that's exactly right. We're taking one of the biggest pain points in healthcare, which is a disparate set of data sources across hundreds of different systems, in tons of manual work the doctors and administrators do every day and supercharge that with large language models to automate workflows and grow doctor's revenue and health system revenue.
What everyone is course is slightly concerned about with Panenteer in the NHS is data and data sharing and the knowledge. How are you making sure that from the get go the users ultimately the end of this feel very secure about the security of their data.
I think that's a non negotiable when you look at healthcare, it companies, software businesses, it really comes down to making that appe zero in terms of how you design your systems and working forward from there to really help at the end of the day to drive value or drive value for doctors and clinicians well at the same time protecting patient information and the companies.
That go on.
I know I was just going to say driving value. Well, clearly the business that is bringing you together and some of your VC backers think that you're going to have a lot of value and ultimately together you've got a combined valuation of about six billion dollars. And tell me about the revenue streams. Therefore, today, how are you going to be building and making sure that you can win business in a profitable manner.
Definitely, I think the exciting thing about healthcare is it's twenty percent of US GDP. Fellas already processes hundreds of millions of dollars worth of claims, communore deals with billions of dollars worth of appointments every single year. And this is just a small percentage of the total dollars that
flow through the healthcare system. And the exciting thing here is that we can use software at the end of the day automate these workflows and drive up profit margin for health systems and end of day, take a small cut of that to grow the profitability of our own business.
How did this merger come about? Was it all to do with General Catalyst? Of course, it was backing both of you.
I think this merger has been a long time coming. I've known him Mont Teenager, the managing director at General Cadalists for seven years now. You've known me since before I dropped out of school. To founder Fellas and the end of day is a marriage made in heaven. These two companies serve similar customers, have similar end goals. One has a data platform that saves time, the other bills larger language models and revenue cycle software. You put them together and you get magic and.
Talk about those larger language models that are going to sort of be part of the magic. There's a lot of hand ringing around AI, around ultimately how it disrupts, how it boosts productivity, but also how you regulate it. How are you managing to weave llms and actually make it really integral to your business. Solve here.
I think there's a lot of noise in the LM space, but there's also a ton of signal. The first time one of our doctors do describe which is an automated workflow for transcribing information and generating CPT codes, their jaw drop and it saved them a couple hours that single day in documentation. And so for us, language models are a tool to accomplish an end goal rather than the
goal itself. And I think businesses that use them as a powerful software automation tool will continue to grow and will continue to serve their customers in a very unique and honestly novel way.
Go in there on the unique novel because there have been a fair few startups looking at tackling healthcare, making it more efficient and more easy to use with the power of AI, and we're just hearing how Palent is going to be sort of taking on the NHS. What makes you different?
I think the exciting thing here is GC's health assurance ecosystem. We have HCA Healthcare, which is the largest hospital operator in the country on our board in one of our largest customers. We have thousands of small businesses in terms of small practices like private doctors, a solo practice, ten provider clinics also on the platform. And so the breadth of appointments to sure volume of notes that we're processing every day, I think is what makes us very unique.
And the partnership, the deep partnership with Legacy Healthcare. We're not trying to disrupt anyone, We're just trying to empower them.
And then what of your post merger being, where do you take this? Are you going to have to cut down on people ultimately? How are you going to ensure that your margin focused revenue boosting in a time where that's exactly what vcs want to see.
The mandate years to grow were a company that thankfully both companies five plus years of runway independently on track to go public as individual companies. Bring them together only accelerates that path, and I think we're going to be one of the biggest hirers in the next year in healthcare and software, and so hopefully a home for many of the folks that did get laid off in the last year or.
Two you were busy raising money and when you were leading a fellas and I'm looking at what Sequoia General catalysts mentioned why comminies have also in Vidia, and I'm interested about how at the moment where there is such fierce competition for compute, for chips, for access to be able to build these large language models, how much has that to hang up for you.
This is a defining moment in computing. I think what Nvidia is unlocked is a new kind of magic in terms of software and automations, and end of day, they're going to make a lot of money on it, but so are a lot of other great companies, and they're going to build a lot of great products. And my goal is the CEO of Comnore, is to leverage the power of GPUs to train these models to do things that just weren't possible before.
And so they'll bill.
Be a fiber GPUs in the coming years. But ultimately I think everyone.
Will get their share.
Today great spending some time with you today tenancy of Comueur, and it wasn't me who knew the Tolkien stuff. It was my producer Marguerite to shout out to her. Let's get back to Google's announcements today. It's not all about the pixel lineup, because a Silicon Valley company also wants to compete with Apple and many more health trackers for example, and watches with the pixel Watch too, which includes faster
Qualcom chip. It's also lighter. Let's bringing James part Fitbit, vice president, general manager at Google, has just been presenting the new watch. And how are you setting yourselves apart? What is the offering that you have different from some of the other things that are on the market right now.
James, A great question. You know. One of the key things that we wanted to do is improve upon the great things that we did in the first generation pixel Watch. So, as you pointed out, we introduced a new processor which makes the performance a lot smoother and snappier, and it's very noticeable for our users. We've also dramatically improved the
battery life as well. With the always on display on you still get twenty four hours of battery life, and we're also offering much faster charging time for our users as well. And along with that, you know, one of the most important aspects of the Google pixel Watch too are it's safety and health features. So we offer this
feature called safety Check. You just check in, and if you don't check in at their a certain period of time, your location will be automatically shared with your emergency contact, so it gives you that peace of mind. And then we've introduced three new health sensors, including skin temperature, dramatically improved heart rate with forty percent more accuracy, and a new sensor called body response to help you manage your stress.
So there's a lot of improvements packed in this next generation of the pixel Watch that we're really excited about.
Who's your typical buyer right now? I, as a parent, immediately am starting to look at the world of smart watches as a way to ensure my children is safe. But who is generally the purchaser and wearer of this.
I think it's really anyone and everyone who's interested in just improving their overall fitness levels and also interested in having a great companion to their phone as well. So the pixel Watch two not only combines helpfulness features like Google Maps, and wallet, but a lot of great health and fitness features as well.
Can you push us forward? I know it's frustrating on a day where you're just announcing the second version, but what does health and health wearables look like in the next few years. Many have been hoping for blood glucose monitoring. Many are now looking at well AI and the way in which you're going to have an AI wearable. How are you trying to be ahead of the curve at Google.
So you can see from the leap from the Google pixel Watch one to Google pixel Watch two that there's always a continuous spectrum of improvements that we're making, from general purpose helpfulness to health and safety features. And what I imagine for the future is that these devices, whether they're trackers or smart watch, are going to be very
essential component of people's lives. It should be something that you don't want to leave home without one because you know they can massively improve your life or they can even help save your life in the future. For instance, our watches have an algorithm that help detect irregular heart events like aphib which can massively increase the risk of strokes. So all of these things I think really bring a lot of helpfulness and utility to people who wear them.
What are some of the biggest blockers to the next iteration, to the next vision of where you see healthcare going from a wearable.
I don't see them really as blockers, but I see them as opportunities for me. That things that are really exciting for me are introducing technologies that we're only available in a hospital grade setting or medical grade devices and bringing them that capability and that helpfulness to as many people as possible. And that requires breakthroughs in power management that are processors, improve sensors that can actually fit within the confines of a smart watch. So to me, those
are really exciting opportunities of research. And I think you know, we hinted at this in our announcement today. The application and the use of AI and healthcare is going to be an exciting new frontier where AI can really find connections and correlations and your health data that were just very difficult to spot before and give you personalized insights and guidance and coaching.
James park Fitbit, vice President, general manager at Google, fresh off the stage, We thank you for it. Meanwhile, that does it for this edition of Broomback technology. You do not want to forget to check out our podcast go find it on the terminal, online, on Apple and Spotify. iHeart this is a BlueBag technology