Bloomberg Businessweek Weekend - February 27th, 2026

11:39Tim Stenovec:But here you're aggregating different pieces of understanding about the election and how it will play out. You know, as you speak about this, I'm thinking to a site like Wikipedia that uses the wisdom of the crowd, supposedly. This is also supposed to use the wisdom of the crowd. But Wikipedia gets in trouble for bias. Is it possible to have bias in prediction markets? Yes is the short answer. And the smaller the market, the more risk there is for bias. Like a couple of years ago, when these markets were very small, some academics went on to a few election markets and placed bets. And that skewed the results.

12:20Tim Stenovec:And as a result, they said, you know, this proves that these markets are not reliable. But as they've gotten bigger and bigger, you know, the presidential market for the election of 2024 was, you know, millions and millions of dollars. that potential for manipulation has been greatly reduced.

12:40Carol Massar:We're talking with Chris Beam, contributor for Bloomberg Businessweek here in our Bloomberg Interactive Broker Studio. This is on the Bloomberg Businessweek cover story, his cover story on how prediction markets, Polymarket and Calci are gamifying the truth. Do they need to be regulated? Does there need to be oversight? Because are people, you can make money. So are people gaming the system potentially?

13:05Tim Stenovec:Yeah, there is regulation already. You're right, you did say there was. So the CFTC currently has authority over derivatives trading. And technically, these are called event contracts. That's a type of derivative. So the CFTC is in charge of what contracts are allowed and what are not. As you might know, there's this huge debate over whether the states should regulate these prediction markets as gambling. And that would be much tighter. It would probably mean taxing them a lot more than they are currently. Yeah, I mean, because to be fair, the gambling platforms, the traditional ones, are taxed in a way that these aren't taxed for sports betting, right?

13:50Tim Stenovec:Yeah, yeah. I think when you bet on Polymarket or Calci, it's taxed as just regular income. So let's just briefly mention mention markets. I love the way the piece opens, talking about this, what happened with Jerome Powell and this mention markets around Jerome Powell. That's sort of our audience. Explain what happened with the utterance of a word by mistake.

14:11Carol Massar:We only have, unfortunately, about a minute or so. Oh, sure.

14:13Tim Stenovec:So, you know, people know that every word that Jerome Powell says in a speech can move markets. But in this case, you have traders on Polymarket and Kalshi watching a speech, paying attention to literally what words will come out of his mouth. And so, you know, you had people betting that he was going to say the word renovation because they were they thought he might be talking about the DOJ investigation. It turns out he did end up saying it, but a lot of people didn't realize it until after the fact. So there was this whole debate, did he actually say the word? Which reveals one of the problems that comes up with these markets, which is it can often be hard to tell what the actual factual outcome is.

15:01Tim Stenovec:Chris Beam, he's a contributor for Bloomberg Businessweek. It's the cover story. It's the big take. It's one of the most read stories. It's all about prediction markets. We barely scratched the surface. Everybody should check it out on the Bloomberg Terminal.

15:16Carol Massar:They told us to expect change. They warned us about the transition. But honestly, they forgot the best part. This is the chapter where we finally focus on us. LifeMD delivers expert menopause and midlife care right from your home. From hormone health to holistic wellness, LifeMD helps you feel your best for the best years of your life. LifeMD, it's just getting good. Visit lifemd.com slash goodlife.

16:11Tim Stenovec:Retirement accounts, yep. High yield cash, yes again. They even have direct indexing. Public has modern design, powerful tools, and customer support that actually helps. Go to public.com slash market and earn an uncapped 1 % bonus when you transfer your portfolio. That's public.com slash market. Add paid for by Public Holdings. Brokered services by Public Investing, member FINRA SIPC. Advisory services by Public Advisors, SEC Registered Advisor. Crypto services by ZeroHash. All investing involves risk of loss. See complete disclosures at public.com slash disclosures. Hello, hello. I'm Malcolm Gladwell, host of the podcast Smart Talks with IBM.

16:50Tim Stenovec:I recently sat down with IBM's chairman and CEO, Arvind Krishna, and I asked him, how can companies use AI to its fullest potential to create smarter business? My one advice to them, pick areas you can scale. Don't pick the shiny little toys on the side. For example?

17:10Carol Massar:If anybody has more than 10 % of what they had for customer service 10 years ago,

17:19Tim Stenovec:they're already five years behind. If anybody is not using AI to make their developers who write software 30 % more productive today, with the goal of being 70 % more productive. Yeah.

17:34Carol Massar:Wow.

17:34Tim Stenovec:So we are not asking our clients to be the first experiment on it.

17:38Carol Massar:We say, you can leverage what we did. We are happy to bring out all our learnings, including what needs to change in the process, because the biggest change is not technology. It's getting people to accept that there's a different way to do things.

17:52Tim Stenovec:To listen to the full conversation, visit ibm.com slash smarttalks.

18:03Tim Stenovec:you're listening to the bloomberg business week daily podcast catch us live weekday afternoons from 2 to 5 p.m eastern listen on apple carplay and android auto with the bloomberg business app

18:14Carol Massar:or watch us live on youtube it's arguably the fundamental building block of the 2026 economy we're talking about the semiconductor well it's kind of been i feel like the fundamental building block for a long time. Everything, it seems, has some kind of chip in it. All right, well, this past week, Meta shook the semiconductor world with a multi-billion dollar deal to buy six gigawatts of AI power from AMD, Advanced Micro Devices. This comes just days after Meta doubled down on its partnership with NVIDIA. The message is clear. If you don't own chips, you don't own the future.

18:50Tim Stenovec:Someone who knows the chip industry well is Chris Miller. He's professor at the Fletcher School at Tufts University, as well as a non-resident senior fellow at the American Enterprise Institute. He's also the author of the book on chips, the New York Times bestseller, Chip War, the fight for the world's most critical technology. Chris, it's good to have you back with us. Carol and I were just talking and, you know, you wrote this book close to four years ago at this point. How different is the world of semiconductors and the world's reliance on semiconductors now than when you wrote the book? Well, I think the key difference is just the scale of spending that we've got right now on building data centers and buying all of the chips that are required inside of them.

19:35Tim Stenovec:NVIDIA first and foremost, but not only we've seen companies transformed by the data center build out, but in a lot of ways, not much has changed other than that. We're still sourcing our key semiconductors from Asia and above all from Taiwan. And so the industry is supercharged at size, growing faster than ever, but dealing with some of the same supply chain choke points that it had a decade ago.

19:58Carol Massar:You know, we talk a lot with one of our brilliant voices on the chip world, and that is our own Ian King, who has seen a lot of cycles, the ups, the downs. And we talk a lot about that supply demand imbalance and what happens when there's a lot of demand, there's not enough supply, the build-out continues, the investment, supply goes up, and then there's a glut. So I'm just curious what your view is when it comes to the cyclical nature of the semiconductor world. Has AI changed it, or we will see also an overbuild, an oversupply, and then a glut?

20:34Tim Stenovec:I think if you look historically, certainly you see cycles up, cycles down. But there are moments when you see step changes in terms of demand for certain types of chips. We saw that with smartphones, for example. There was no demand for smartphone chips, and then now everyone needs a new smartphone every couple of years. And what we're seeing in AI right now is that type of step change, a huge increase in just the baseline amount of chips that we're going to need for data centers driven by AI. And so I think we shouldn't expect cycles to be over. Certainly there'll be ups and downs in the future, but it's now very clear, I think, that we're just going to need a lot more compute for AI purposes in the future.

21:12Tim Stenovec:And as a result, we'll need a lot more of the AI chips that go inside of data centers. In your view, is the promise that many people think AI is supposed to deliver, will it actually be delivered? What's the future that you envision after all this CapEx is spent? Well, I think it's in some ways funny when we ask, will AI deliver? Because if you look just three years ago, even after ChatGPT was released, there are so many things that were not possible that are possible today, whether it's the number or the scale of hallucinations and answers that chatbots give you or the scale of work that you can put together today that just wasn't possible in the past.

21:57Tim Stenovec:We've already had so much new capability generated just in the couple of years since ChatGPT that in some ways I think it's an absurd question to ask, will AI deliver? It already has in a lot of ways. But I think I understand why there's plenty of questions about what about the investment that's happening right now? Will that investment pay off? And I think there are reasons to think carefully about how much each company is putting in over what time horizon. But I guess when I zoom out, I ask myself, do I want a world in which there's more access to compute or less? And it seems to me that we should, rather than being concerned that there's too much compute being put in the ground, be excited that there's actually companies willing to invest in the infrastructure that's going to deliver all these capabilities.

22:43Tim Stenovec:Well, I think it's an important question to ask for a few reasons. And one of those is because if you look at just the CapEx that these companies are spending, you know, one company,$200 billion in a single year, that's a big commitment. And that's something that they have to convince investors that is money that is going to the right place. That's money that has to be earned back plus on companies coming to a hyperscaler and saying, yes, we think that this money is not only being well spent, but then we can use this compute to actually create a product that will provide a return on investment.

23:17Tim Stenovec:So yes, we've seen a lot of the hyperscalers benefit the, you know, the Anthropics and the open AIs and the Mistrales, like that's amazing stuff. But at the end of the day, there are a lot of companies that are not necessarily technology companies that maybe aren't yet necessarily seeing an increase in productivity as a result of these tools. So my question is, do those companies start to see that? Do we live in a world where this is a layer, just like the internet was a layer of technology? I think there's no doubt that we're going to have AI as a layer that's embedded into all technology that we use.

23:53Tim Stenovec:And when I look at the economic question, I say, first off, Is it profitable to serve AI systems today, not train the next generation, but serve today's? And if you listen to what's publicly reported about OpenAI or Anthropic, their margins on their inference business are not just positive, but quite good. And so that, I think, is pretty strong evidence that the delivery of already existing AI services is a pretty profitable business. The next question is, should we be investing in R &D in the next generation, which is, of course, very, very expensive? But I think it's hard to argue we should dramatically slow down R &D and AI, just given all of the extraordinary improvements that we've seen over the past couple of years in terms of capability.

24:34Tim Stenovec:And so when you start breaking it down and ask, well, which specific investment do we think is excessive? Which specific investment would we rather not be doing? Would you really like to be the CEO of the only big tech company that's not investing in AI? That doesn't seem like a very comfortable place to be. I'd rather have a situation in which the big technology companies are investing more rather than putting money in the bank or buying back their stock because they didn't have any profitable investment opportunities.

24:59Carol Massar:Well, you know, I would say Apple's doing it differently. And I guess time will tell whether or not their approach works out. Chris, I am curious to, you know, who do you talk to? What research do you follow? What are the leading voices? What are the leading companies that you watch to figure out kind of how the semiconductor space is evolving? I mean, we still know TSMC is still the big manufacturer of all chips in the world, and there's geopolitical tensions to that. But give us an idea of where do you think kind of investors and just the world at large need to be focusing their attention on when it comes to the semiconductor world?

25:37Carol Massar:Is it NVIDIA? Is it China? Is it something else?

25:41Tim Stenovec:I think the hard problem is that it's all of the above. And we've seen this play out in the GPU supply chain over the past couple of years. We've had shortages in different types of components, different materials, and the memory chips that go next to GPUs and AI servers. Each part of the supply chain has had to dramatically ramp up its production capacity to respond to this surge in demand. And so if you only look at one part of the supply chain, you miss the challenges that other parts are often facing. And so it's the chip designers, it's the chip makers, but it's also the materials suppliers, which are often not even thought of as being semiconductor firms, but produce many of the capabilities that are critical to actually manufacture the AI chips and servers that we need.

26:29Carol Massar:Do you think the world or do you think the U.S. specifically does need to be restricting sales of its most sophisticated chips to China or on others? I mean, we did see NVIDIA. They still face some uncertainty in China. That's their largest market or which it is the largest market for chips. The government granting some licenses to ship a small amount of some of its processors to customers there. But NVIDIA is not sure if the Chinese government will give its approval. So there's still some back and forth here. But is it still an arms race of source? Arms race of source, excuse me. Yeah.

27:05Tim Stenovec:I think arms race is not a bad analogy. When you listen to tech CEOs, they'll speak in the same language. They're struggling to get access to all the computing power that they need, that they envision needing more tomorrow than they've got today. And if you listen to Chinese technology leaders, what you'll hear from them is challenges in getting access to computing power. And the primary reason they've struggled to deploy AI products at scale is because they've struggled to get access to all of the computing capabilities. And it's on a regular basis. We see new Chinese models launched that can actually be deployed at scale because they don't have access to the advanced chips that they need.

27:43Tim Stenovec:And so this does, I think, seem to me that this is still a very powerful card that the U.S. has to play. And so I think we should be very careful or on any decisions to give China more access or at least make sure that we're getting something in exchange for that. On that, Chris, the U.S. support of TSMC and the U.S. support of Intel, different types of support. And I guess you could call the TSMC one encouragement to build here in the United States. What is the right industrial policy to reduce reliance on companies outside of the U.S.? Well, it's a really hard problem because TSMC is such a capable and efficient manufacturer in their home base in Taiwan.

28:27Tim Stenovec:But I think the U.S. government is right to say that we need a more diversified manufacturing base for the world's most important semiconductors. And we've learned over the last couple of years there's there's no silver bullet. President Trump's tried tariffs that comes with obvious downside. President Biden tried subsidies that work to a degree, but only to a degree. Here's the reality. The chip industry has involved hundreds of billions of dollars of CapEx over the last several decades. And so it's just not going to move fast. And so if you want to slowly change the structure of where chips are produced, you've got to plan for years of years of implementation of measures designed to shift the economics of the chip industry.

29:09All right.

29:10Carol Massar:Going to leave it there. Chris Miller, thank you so much. Good to check in with you. professor of international history at the Fletcher School at Tufts University, author of Chip Ward, joining us.

29:22Tim Stenovec:Support for the show comes from Public. Public is an investing platform that offers access to stocks, options, bonds, and crypto. And they've also integrated AI with tools that can assist investors in building customized portfolios. One of these tools is called Generated Assets. It allows you to turn your ideas into investable indexes. So let's say you're interested in something specific like biotech companies with high R &D spend, small cap stocks with improving operating margins, or the S &P 500 minus high debt companies. Chances are there isn't an ETF that fits your exact criteria. But on public, you just type in a prompt and their AI screens thousands of stocks and build a one-of-a-kind index.

30:02Tim Stenovec:You can even backtest it against the S &P 500. Then you can invest in a few clicks. Go to public.com slash market and earn an uncapped 1 % bonus when you transfer your portfolio. That's public.com slash market. Add paid for by Public Holdings. Brokered services by Public Investing, member FINRA SIPC. Advisory services by Public Advisors, SEC registered advisor. Crypto services by ZeroHash. Sample prompts are for illustrative purposes only, not investment advice. All investing involves risk of loss. See complete disclosures at public.com slash disclosures. Hello, hello. I'm Malcolm Gladwell, host of the podcast Smart Talks with IBM.

30:39Tim Stenovec:I recently sat down with IBM's chairman and CEO, Arvind Krishna, and I asked him, how can companies use AI to its fullest potential to create smarter business?

30:51Carol Massar:My one advice to them, pick areas you can scale. Don't pick the shiny little toys on the side.

30:57Tim Stenovec:For example?

30:59Carol Massar:If anybody has more than 10 % of what they had for customer service 10 years ago, they're already five years behind.

31:11Tim Stenovec:If anybody is not using AI to make their developers who write software 30 % more productive today, with the goal of being 70 % more productive. Yeah.

31:23Carol Massar:Wow.

31:23Tim Stenovec:So we are not asking our clients to be the first experiment on it.

31:27Carol Massar:We say, you can leverage what we did. We are happy to bring out all our learnings, including what needs to change in the process, because the biggest change is not technology. It's getting people to accept that there's a different way to do things.

31:41Tim Stenovec:To listen to the full conversation, visit ibm.com slash smarttalks. Thank you. brands and unlock the best available rates when you book direct with Sonesta Travel Pass. Here today, roam tomorrow. Join now at Sonesta.com. Terms and conditions apply. This is the Bloomberg Business Week Daily Podcast. Listen live each weekday starting at 2 p.m. Eastern on Apple CarPlay and Android Auto with the Bloomberg Business app. You can also listen live on Amazon Alexa from our flagship New York station. Just say, Alexa, play Bloomberg 1130.

32:47Carol Massar:Well, it's bonus season, at least for the lucky few on Wall Street and across a lot of corporate America. For some, though, it is a moment of relief. For others, a burning hole waiting to be spent. I don't know. You're shaking your head. Yeah.

33:01Tim Stenovec:To be one of those. Sounds great. The question isn't just how much you've got. It's what you do with it for more on how to spend and invest your bonus this year. Bloomberg Pursuits editor at large, Chris Rauser. Chris, we're going to talk about how to spend and how to invest your bonus. but maybe we should start with buying a belt. Because it's a good investment. I want to start with, is that okay with you, Carol? Yeah, I mean, listen. You can't get enough of this story. I've been chuckling through this.

33:27Carol Massar:This is another table reading story.

33:28Tim Stenovec:So I love this because, you know, we're still talking about the Super Bowl and the Super Bowl's halftime show. And your focus wasn't on the people who were grass or maybe who showed up or what wagers were made. Who actually performed? No. Yeah. It's about what Bad Bunny wore. Oh, yeah. The humble belt. Specifically his belt.

33:54Carol Massar:I'm laughing. Why are you already laughing? Because it's really funny. All right, go ahead. Talk about the belt.

33:58Tim Stenovec:Bad Bunny's belt is not funny. I'm sorry. He had a great, wildly proportioned outfit from Zara. And at one point, he wore a straw hat, a farmer's hat. But the thing that I kept looking at his outfit was his belt, which was a very, very simple rope belt. Yeah. It was a Javaro style belt, which was like in honor of Puerto Rican farmers, which is why there were people there dressed as grass and why he and the dancers wore farmer's hats at the beginning.

34:28Carol Massar:And just to set the record, I'm not laughing at any of that because I loved the homage to culture. It was super impactful. I just, the way you write. There's a mom and dad reference that I really love, but go ahead.

34:38Tim Stenovec:Well, so I'm staring at this belt. And then I was like, when was the last time I looked at a belt? or like even thought about someone's belt or someone's belt. Like the bad bunny wore that belt because he was like, this culture is what ties us all together. And I was like, that's such a great message. When was the last time a belt had a message? And actually belts are like under attack, guys. Why? What do you mean? They're like in menswear. Do you have a belt on? I'm not wearing a belt. Do you have a belt on? Yeah, I always wear a belt. Oh, yeah, you do always have a belt.

35:06Carol Massar:Okay.

35:07Tim Stenovec:No. How else am I going to keep my pants up? Suspenders? Right.

35:11Carol Massar:Hey, my husband used to wear suspenders. So watch it, buddy.

35:13Tim Stenovec:So the thing in menswear these days is like a silhouette where your pants are huge. They got pleats or two pleats or 10 pleats and they're flowy, but you don't wear a belt. And you maybe they're like long tab trousers that don't even have belt loops. Maybe they're Gurkha pants like I am wearing right now, which are so difficult to get out of. You like it like requires a bridesmaid. And until very recently, I like had to wear a belt so that my pants didn't fall off. I don't know about, I mean, I feel like that's what Tim is saying. Yeah, that's what I'm saying. I would see all the styling on the runway and in, you know, like you go to like the Ralph Lauren website or the Todd Snyder website, like none of the models are wearing belts.

35:54Tim Stenovec:They're tucking sweaters into pants without belts. I'm like, how did that even, what? To me, it doesn't look right.

36:00Carol Massar:My dad was a belt. Like he had belts, multiple belts.

36:03Tim Stenovec:And I was like, I'm going to, I'm on a mission now to figure out what's going on with belts.

36:08Carol Massar:So what did you find out?

36:09Tim Stenovec:Well, so yes, so the silhouettes for menswear are very much for the past few, like five years have been kind of belt less, low belt. But then I went to Pittiwoma, which is this menswear show that happens every year in January. It happens twice a year, but it's in Florence and it's in this old fortress and it's got literally hundreds of menswear designers, craftsmen. And they've got people who make umbrellas and watches and jackets. And it is like a show of force of like trying to make men beautiful, which was kind of overwhelming to be there for the first time. And there were so many beautiful belts.

36:45Carol Massar:Like what?

36:46Tim Stenovec:Well, in Europe, there's so many great leather craftsmen in a way that we don't really have in the United States. And there's like these Edelweiss belts from Switzerland. There's incredible Italian belts, obviously. And there were so many belts that were inspired by America. And now to me, in America, the belt is something that you, when you go to the department store, you're like, you have two things in your mind, brown or black. Yeah. I don't have any belt that's not brown or black. Or maybe you're thinking, I forgot to put one in my gym bag and I have seven minutes to buy a belt.

37:21Carol Massar:What about this like court or canvas one?

37:23Tim Stenovec:And as I say in the story, I sort of, in my mind, like in America, if you give someone a belt as a gift, it means you've given up trying. You're like, I'm not. It's like having a wallet. You're like, I can't think of anything. I'm just going to use your belt.

37:37Carol Massar:You said, to me, you, giving a belt to your dad for Christmas is like giving a robe to your mom.

37:42Tim Stenovec:Yes.

37:42Carol Massar:That's true. Which is a great SNL sketch.

37:44Tim Stenovec:We've all been there. Yes. And you're like, oh, a belt, thanks. Yeah. Yeah. But actually, because Western wear is such a big thing, which is partially thanks to Beyonce, it's partially thanks to Pharrell had this amazing cowboy and Native American inspired show at Louis Vuitton. Like Western wear is actually really huge and it's like very globally influential. And so it was so cool to be for me like the person who's like, American belts are so dumb to go to Europe and just see so many beautiful American inspired belts, Native American belts. Brunello Cuccinelli, who's like the most fashionable man on planet Earth.

38:21Tim Stenovec:Where's a belt? Where's a belt? Was like, you don't wear a belt, I wear a belt. You don't get to accessorize. Like, I only get a watch. I don't wear jewelry. I have to wear a belt. And his collection this year had American-inspired sort of Western wear belts with silver and turquoise. And I just was like really turned around and I was like, the belt has a future. Yeah. the belts, the American belt specifically, is having a moment and is gonna get bigger and bigger. So that's your prediction, even though on the runway we're not necessarily seeing, I mean, even like there's a picture of rag and bone jeans in your story and a guy wearing those without a belt.

38:56Tim Stenovec:And that to me looks naked. Can you imagine wearing jeans without a belt? If I don't, it feels like you're missing something. We're not all Ilya Rosenoff from Heated Rivalry. We cannot all just like, our pants don't all like perch, you know? Like you got some people need a belt. Chris Riles or your gift.

39:15Carol Massar:No, but it's interesting. Like I know this is about guys and stuff, but I too like I've gone through periods of right, like buying lots of belts, thick belts like it. And then I've whittled them down because I just don't wear them. And then there's always a few like I want to hang on to because I do pull them out.

39:28Tim Stenovec:Yeah. And women's wear for the past couple of years, belts have been huge. Like there have been like double belts and like trompe l 'oeil belts that are fake. And like Elsa Schiaparelli has like models with like eight belts. And just now, menswear is getting into having a lot of cool belts coming back. So maybe you can use that bonus check to buy a belt.

39:48Carol Massar:How's that for a transition?

39:50Tim Stenovec:Buy an expressive belt. That's the idea. Buy something that tells the world about you or about your culture or about what you want to save. Make it like a watch or a broach or something that you can.

39:59Carol Massar:There's a lot in this piece, and we're not going to be able to get to all of it. They get into how our bonus is taxed, how to save and invest your bonus.

40:06Tim Stenovec:You've moved on from belts.

40:07Carol Massar:And then how to And then Yeah Moving on kids And then what are the best things to spend a bonus on Should we do spending?

40:16Tim Stenovec:I think we should do spending Because the taxing I will say I will say We're going to skip this The taxing part is really interesting And smart Everybody should read it Everybody should read it Because I think a lot of people are I've always been confused about why taxes look different on bonuses Yep And if you read it on the terminal or at Bloomberg.com Just click on this yellow thing And it takes you right to the tax part But anyway Let's get to the fun stuff Like buying a Corvette But yeah, this guide is great because you can sort for like what you want to learn about. And like if you want to learn about giving back or investing, you can sort of just click the button.

40:44Tim Stenovec:It'll take you right to that part. My part was. Chris, you don't need to tell us your part. As I was reading this, I knew exactly what you contributed. It was not. He did the tax implications. No, no. Chris did watches.

40:58Carol Massar:The donor advised funds.

41:00Tim Stenovec:There are donor advised funds. There are also informative. OK, sorry, Chris. Go ahead. So if you're going to splurge, by the time you get to my part, it's like, okay, you've spent your money on the helpful stuff. Now you're just going to blow it. One of my favorite things was these crazy private jet journeys at Abercrombie and Kent, which is an amazing outfitter. They do them all over the world, but they do these ones in South America where you go to Colombia, Peru, and Brazil, and you go through these great, amazing waterways like the Pantanal. and so you're on a boat in in like the amazon then you get on a plane you fly to a different country and then you go on a boat in a different place and you see pink dolphins you see huge anteaters um so that's 59 000 a person that's very expensive but it's three weeks right three weeks i think it's two weeks and um but it's the kind of three weeks it was a bargain i feel like you guys are like me in that like you need to get outside sometimes sometimes if you go somewhere huge, like a mountain or you're out in the ocean or something, you're like, oh, wow, my stuff doesn't matter as much.

42:04Tim Stenovec:I recommend a Patek Philippe annual calendar moon. Oh, you do? This is a good one because normally there's a lot of watches that you go into Patek and you actually can't get them because there's a wait list, but this one is a very important watch at Patek, but you can actually get it because it's just not as cool right now. So that's$66 ,000. I was going to say, what's the... Is there like a swatch version of a particular movie? That's the after tax. Yeah, swatch. I'm surprised that it's$66. I thought Patex were a little more expensive. They can be. If you want something that's going to get you 12 months of personal joy, Softwave is this incredible new facial treatment.

42:45Tim Stenovec:Have you used this? I have not. But several people here at Bloomberg have, so we can talk about it. I love this stuff, this skincare stuff. They basically sort of zap the collagen layer under your skin, and for 12 months, it just tightens up your skin because it's basically this low-level injury under dermis. It's about$3 ,000, and people swear by it, and I would like to do it, and I think I may. And then one thing that I got for myself, which is actually not expensive at all, is this card.

43:20Carol Massar:You did do this?

43:21Tim Stenovec:Yes, the balloon. Okay. Which is like stainless steel key card. It's$59. And it's basically like a thing that blocks apps on your phone. These things are having such a moment. Yeah. There's one called Brick where you have a brick on your fridge and you have to go walk into another room if you want to use the app that you want. What it does is it creates friction. Yes, exactly. So then it's like you're not just automatically instinctively grabbing an app. But go ahead. Right, yeah. And the phone has built-in stuff where it's like you have time limits and then a little thing pops up. And it's like you've been on Instagram for an hour and a half, Chris.

43:51Tim Stenovec:What are you doing? And then it's very easy to be like, okay, bypass. But if you have the Bloom, which is a stainless steel car that you can keep in your wallet or a drawer or another room, that level of friction for me actually does, that does prevent, that does like, I'm like, okay, bad boy, come on, like stop. Did it permanently change your habits? I just started doing it like a month ago. We should do something bigger on this. Yeah, I agree. This is like, I just think this is a huge part of wellness moving forward. and it's our understanding of technology and the implications of technology, regardless of what you're doing on your phone.

44:23Tim Stenovec:And recognizing that it's addictive. It's an addictive substance. And if you think that you're going to fix this on your own just through willpower, you're wrong because it's built to beat you. So we've got to figure out other ways.

44:34Carol Massar:Part of a bigger action, I think, of also parents buying dumb phones for kids instead of smartphones, right? You're seeing it kind of happen.

44:42Tim Stenovec:You're going to do it, Chris. All right, there's a chat here.

44:44Carol Massar:There's a chat here. Chris Rouser, yeah, as I said, Love, love. This is really fun.

45:16Carol Massar:more.

45:16Tim Stenovec:I'm Tim Stenevec.

45:17Carol Massar:And I'm Carol Master. Have a good and safe weekend, everyone. Check out some bills. Stay with us. Today's top stories. Are you laughing? He's laughing.

45:26Tim Stenovec:I want you to check out those. I agree. I agree. Co-sign.

45:29Carol Massar:Stay with us, everybody. Today's top stories and global business headlines are coming up right now.

45:34Tim Stenovec:This is the Bloomberg Businessweek Daily Podcast. Available on Apple, Spotify, and anywhere else you get your podcasts. Listen live weekday afternoons from 2 to 5 p.m. Eastern on Bloomberg.com, the iHeartRadio app, TuneIn, and the Bloomberg Business app. You can also watch us live every weekday on YouTube and always on the Bloomberg Terminal.

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