Oracle Shares Skyrocket On a Strong Cloud Outlook

21:09We took out all the SaaS software, the Salesforce and all that. And now what we want to do, we want to bring that to our customers. We want to bring that to the merchants. We're very excited in the coming weeks and months to launch AI-powered customer retail banking apps that we believe are going to be tremendously more valuable and create more value, save time, save money for our customers and make them feel in control of their finances. So it's very exciting to use AI now to create the next generation of financial services.

21:35Caroline Hyde:So, Sebastian, you're a public company now, so you have coarsely earnings. But I want to end by asking what the metric is that you will gauge Klana's success by. What is the kind of milestone that you are holding your company to from this point? Well, it's very easy. You mentioned already Revolut in the firm. Klana's focus in the last few years has been, let's get as many users as possible. It's a bit like Facebook, right? You want to get as many users as possible. we're now at 111 million. That means, you know, a firm I think is less than 30, Revolut 50. We're 111 million users, but our revenue per customer is not like as much as there.

22:15And that is it. You know, revenue per customer is the one metric now because we know that when we start launching things like the card, we see massive pickup from our audience. So now obviously we want to reach similar revenue per customer as we're seeing our main competitors. And that has the potential of bringing us from a revenue size company as well to a different level. So that is the key metric right now, revenue per customer.

22:41Sebastian Schmierkowski, Klarna CEO with a blockbuster hat. We hope that bodes about the IPO rather than the future business model. We so appreciate you being here with us today, live from the New York Stock Exchange. Now, we are here in New York City, the other part of town, at Primary Summit. Now, this is all about the future of investing, the startups that you want to be in more broadly, and the way in which we're seeing investors take shape in the world of sports, in the world of AI, in the world of consumer health as well. So I just want to be digging deep into our next set of guests who are joining us today on the back of really the future of AI and sports with Vasil Kulkani.

23:21Now, he himself, a founder, but then became a venture capitalist with Courtside Ventures. But Larry Fitzgerald as well, an NFL veteran, now turned advisor and investor alongside Quartzside Ventures. Gentlemen, it's wonderful to be here with both of you. And Vasu, I start with you. You were once a founder. You're now an investor. What does the future of sports investing look like to you? Because when I look at your portfolio, there's a myriad of health tech. There's about collectibles. It's about fandom. But it's also about new types of sports and keeping them shorter and quicker. Yep. I think you hit it perfectly.

23:54Everyone who talks about sports today thinks about teams and leagues, but sports is so much larger than just that. Most people buy sports teams as a trophy asset, but then if you look at what they're doing today, they're developing the real estate around the stadium and creating many, many large business opportunities. For us, on the venture side, it's always been about the fact that there's media opportunities. There's the world of collectibles. We just saw a Babe Ruth jersey sell last year for$32 million. That's a real asset class now. We see the world of fitness and wellness and longevity. That's the name of the game this year is how are you going to live to be 100 years old?

24:28To me, all of that is sports. It's not just what happens on the field. It's so much of what happens off the field as well. And those are the things that we've been investing in for the last 10 years now. Larry, you're a testament to that on the field, known as one of the best receivers of all time. But we think about what you do off the field, whether it's philanthropy, but it's about backing new ventures. Where is your sweet spot at the moment? Where have you thought that the world of sport has changed and where you didn't really foresee that you've made money on? I think there's a lot of different verticals.

24:55Like you take, for instance, flag football. It's going to be an Olympic sport in 2028. Like how is it that we can get young ladies to be able to participate in the game that they love? You know, 50 % of our fans are women and they're not able to participate. They're not able to put helmets and shoulder pads on like the boys are. But how can we give them that avenue to be able to continue to follow their passion that they watch with their brothers and their fathers and others in their schools and support their fantasy football team. So I look at emerging sports. I still think women's sports is the most undervalued asset class in sports.

25:25And you see what unrivaled, Bessemer just led their recent round. And I just think that expansion and opportunities is endless. Flag football is taking my world upstate by storm. Tell you what also is. Pickleball. I know you're backing that. I know cricket is an area that almost led the charge in making things more consumable, more pacey. is there a side effect of making everything for those that have a lack of attention span nowadays i don't think so i think you have your purists you know my dad he he sits down and watches the game on network tv like everybody else but my sons they have no interest in watching the entire football game they want to watch red zone they want to see the snip bits they want to see justin jefferson's touchdown catches chase uh you know jamar chase's touchdowns they want to see it quick and easy and they want to see what they're doing on their fantasy teams that's how they consume it And so we have to be able to give it to them and buy size pieces like the way they want to consume it.

26:15We can't do everything the way my dad wanted to do it. It's just the younger consumers watching it in a different way. And this is where your expertise, Vasu, on content and media consumption comes in. Where are you seeing the innovation coming from? What kind of founders are coming into the game? I mean, Alex Rodriguez is someone that you've backed. Of course, A-Rod is someone that we know well on our network. He has backed Future of Media. But where are some of the more innovations coming in when it comes to that? We're seeing sort of a lot of new emerging leagues come in with new types of content.

26:42So we just backed a company called Baller League that's based out of Germany, which is now six-on-six football. You can't kick the ball backwards behind midfield. So it creates action. It's two 15-minute halves.

26:51Caroline Hyde:When we're talking football, we're talking my kind of football, your kind of soccer. Not our kind of football. That's exactly right. And two 15-minute halves. So it's basically made for content to be consumed on a cell phone. And oh, by the way, every one of the teams in that league is operated by a streamer or a content creator that has probably more than 30 to 40 million followers on Instagram or Twitter or TikTok. So on day one, you're talking about an audience that's already there. Historically, the NBA, the NFL, it took them several decades to get to the point where they could go get a media rights deal, start to get the sponsorship revenue in and become a real business.

27:27These leagues are able to do it overnight. In the first year, they can generate tens of millions of dollars in revenue because they can now go straight and free to stream on Twitch or YouTube. So they don't have to wait for the ESPNs or the Sky Sports to show up and give them a deal. They've already got the audience, which means the sponsors are now coming instantly. And those are the types of business that we find really interesting. I mean, Vasu, you're the self-proclaimed biggest basketball fan there is, hence courtside. An average player, too. Average. Sometimes those things go hand in hand.

27:56I'm interested, Vasu, about how you think fandom fits into all of this and how ultimately we still want to spend on the things that we love. How are you thinking about collectibles and the way in which that pivots to a digital side? I don't want to say we're the anti-AI fund because we do invest in AI companies. But when I think about 100 years from now, and AI has eaten just about every industry in the world, I hope that we still want to watch humans play sports and not robots. Not robots. Right. And if that is true, then I think everything that we're investing in here today will still be around hopefully 100 years from now.

28:30It may look slightly different, but it'll still be here. And when you talk about the world of collectibles, you think back to mankind as a hunter and gatherer. I think from the earliest cavemen, we've had this innate desire to hunt and gather. Back then it was for food. Today we don't have to hunt for our own food, but we still have that desire to hunt for things. And to me, that's the world of collectibles. And so whether it's watches, handbags, sports memorabilia, trading cards, Pokemon cards, this is a$600 billion industry that is just starting to see the light of technology. It was sort of eBay for the first 20 years of the Internet.

29:04And now you're going to see a whole host of new companies that are going to create better buyer and seller experiences for all of us who want to collect things. Larry, I'm sure in many ways the deals hunt you. And people come to you with their innovations and their ideas in the world of sports and media and content. But what have you looked to hunt out? Where have you found that having been an athlete, your edge can lead to courtside's alpha? Well, I think it's really important that you have an inside look at what sports looks like and also what people are talking about, what they're interested in.

29:36So I look at a company like Tomorrow Sports, who has essentially stood up a business that took your grandfather's game and made it something that young people would want to watch in an indoor stadium environment. and expanding that now to the West Coast. You think about innovation of games that were maybe older games and finding new innovative ways to be able to make it experiential. I think people, no matter how much AI and technology evolves, there's a communal aspect to what we like in sports. You sit next to a guy at a Giants game and your favorite player scores a touchdown and you high-five them.

30:14You have no idea who they are or where they're from, but you're sharing this moment together. And I think the more that you can create that, the stronger the sports experience will be. What's interesting is there's a very global nature to the portfolio. And I'm fascinated that you're backing cricket, but you're also thinking about, well, the way in which very American, uniquely American sports, your own sport, football, become a global in nature. Basketball is doing that. How are you seeing, when we're seeing a world that is almost anti-globalization from an economic perspective right now, becoming more globalized when it comes to fandom and when it comes to sports?

30:44Well, I think sports is really unique because it transcends race. It transcends religion. It's the one thing that you can do and not have to talk about politics or worry about those type of things. And so when I went to India years ago and I saw I was I was at an event with Sachin, one of the best cricket players in the world. And I saw he had a 10 team security detail, police officers and people would literally they weren't asking for autographs. They were literally just trying to touch his touch his shirt. Right. And so I was like, wow, he's almost a deity. And I've been around a lot of high-profile athletes.

31:16I've never seen anybody respond the way he did. Then I saw the IPL at the time. It only had eight teams in the league. And I look at India. It has over 40 different cities that have over a million people in the population that absolutely love the game. And you look here, the Green Bay Packers, the Pittsburgh Steelers, the Memphis Grizzlies. These are all cities that are nowhere near 500 ,000 people, 600 ,000 people. And they still support these franchises in a massive way. to think about the expansion, what could happen in a global sport that's followed around the world. And so it was really intriguing for me to invest in that.

31:47Well, to be able to keep on investing, doing your philanthropic work, as well as being a key, well, your deity here for many when it thinks of the game. And Vasu, so appreciate your time here thinking about the world in which we create valuation in a maybe not totally pro or all-in-on-AI way. We thank you, Vessel Kulkani, Larry Fitzgerald from Courtside Ventures, and taking it back to you in San Francisco.

32:09Caroline Hyde:Awesome interview in the private sector space, venture space, sports. Absolutely love that coverage. Let's get back to some of the technology sector movers in the public markets, right? First of all, Oracle. We're now up 42%. This is the biggest jump on Oracle shares since 1992. It propels that name into the top 10 biggest companies on the S &P 500. It makes Larry Ellison the world's richest person. And it's all about an outlook, not just for this fiscal year on cloud, but all the way through the 2030. And there are a number of analysts out there saying we are in shock at these numbers. To the downside, a very different story.

32:47Caroline Hyde:This is Synopsys, a company that makes software for chip design. The stock's down 35 percent. Biggest drop in history. Why? Because they're getting hit by export restrictions from the United States to China. And what they've tried to do is like work very hard on their own intellectual property. But that export of American technologies to China being controlled or banned. That is materially and directly hit sales. And that's the story of that name. We'll continue to track it. Elsewhere in technology news, Joby shares surging as it expands its partnership with Uber. As early as next year, customers will be able to book Joby's helicopter and seaplane services within the Uber app.

33:27Caroline Hyde:I want to get to Bloomberg's Natalie Leung, who's here in San Francisco. You and I talk about Uber, Joby, some of the robotaxi names all the time. Most people would know Joby as an eVTOL or flying air taxi company. But in the near term, you need to be really specific about this deal with Uber and what the offering will be to the consumer. And so it really speaks to the opportunity that Joby have here. In the future, people will be able to download the Uber app and hail blade helicopters on their app. Right now it's available in New York in parts of Southern Europe. And so it will be available to the millions of people who already have the Uber app on their phone.

34:07Caroline Hyde:Another story you and I have tracked together is what's happening in Atlanta in the robo-taxi race. The news is Lyft and May Mobility, a partnership, and some rides in that market are not really true robo-taxi rides. Yes. So Lyft is finally launching their AV cars with May Mobility in Atlanta today. And there will be a safety operator at the beginning as they sort of acclimate customers to driverless rides and sort of take over whenever needed. And it will also have limited operating hours at the beginning. Lyft shares up almost 3 percent. Direct correlation with the news. We don't we don't necessarily know, but Blue Mates Natalie Lung, terrific reporting, really worth tracking what she's looking at in the mobility space.

34:49Caroline Hyde:sticking with the world of autonomous vehicles. Today, Zoox is officially launching its service on and around the Las Vegas Strip. It marks a first in the United States for a purpose-built robotaxi that has no driver controls, giving rides to members of the public. Zoox CEO Aicha Evans joins us now from Las Vegas. Okay, finally, it's happened. And I give our audience the context that you and I have been talking about this for a very long time. There's limits to the service at first, Aisha. So to start, explain the parameters of what you're doing today and how you expand it. Thank you. Good morning.

35:29And thank you again for having me. I actually had a bet that finally was going to be the first thing out of your mouth. So, look, yes, we finally launched it essentially to the public, which is really nice. There's an app. Please download it if you're in Vegas. and also, by the way, if you're in San Francisco, it's coming soon, so you'll get on the wait list there. But let's get back to Vegas. Essentially, we're starting with five locations, Resort World, New York, New York, Area 15, Luxor, and Topgolf. And you can go from 1 to any of those locations. And then 11 a.m. to 1 a.m. And, yeah, you basically call it and it comes and gets you and takes you to your location and you enjoy the experience and we hope you do it over and over again.

36:18And you also tell us about it so that we can keep learning. It's free of charge, by the way, for now too.

36:23Caroline Hyde:Yes. Aisha, a question that actually comes from our audience is a point of clarification. Does the rider in the first instance have a choice in the locations that they go to? In other words, they can say through the app, I want to go from point A to point B or do you have to follow a predetermined route? Nope, you have a choice. You pick your location and we will pick the best route at the time to get you there. You might go to the same location, between two locations several times and go a slightly different way because we'll adjust depending on what's going on around the strip. So you pick your location and we take you there.

37:00Caroline Hyde:The technology difference with Zoox is that it is a vehicle that has no steering wheel and no pedals. It has four inward-facing seats. But you have been slower to deploy to the public than other robotaxi companies that use retrofitted consumer vehicles that do have driver controls. Was it worth it giving up first-mover advantage to go down the regulatory path and the relationship path that you have with various cities? Oh, it was definitely worth it. First of all, I mean, I think we've been deliberate is how I like to call it and very measured. This is the beginning of a massive wave that will be a big market.

37:40And that will frankly change how people move around cities and beyond. And so it was definitely worth it because the experience is magical because we've done it right. We've gone to the final solution from the beginning. We've learned a lot along the way. We've thought about serviceability. We've been rider obsessed. We've thought about the business and operations at scale. And so we are absolutely thrilled with the path we've chosen. I was taught very young, at a young age, do it right the first time.

38:13Caroline Hyde:I've been on the Las Vegas Strip in the Zooks vehicle actually more than once. You know, the experience is more akin to getting into an airport shuttle with respect. You don't feel like you're in a consumer car. You opened up the availability today. Is there a sort of wait list arrangement in Las Vegas? Was the demand so great that you have a backlog of people to onboard? Or what has the response been? The response has been awesome. As you know, we've been carrying members of the public, but on fixed route, just to get our bearings and get everything ready. And I frankly, I under called the demand.

38:50So I think I need to get out of the demand forecasting business. As far as Las Vegas from today onward, there's no wait list. You essentially sign up and you're right. And I'm a little nervous today because I'm like, oh, my gosh, I hope it's not too many people, because obviously we want to want to provide a great experience. But it's going to be wonderful. We are we are we're just thrilled to bring this to people. As you know, we've been at this for over a decade. We've been measured. We've had a very consistent vision. We, you know, we've had to be resilient and we we are excited to share this with others.

39:30Caroline Hyde:What is the strategy to start charging fares first in Las Vegas and then later in San Francisco? So what you can expect is, first of all, everything is always pending regulatory approval. But what you can expect in Vegas is that we will be adding more and more locations. You know, this is the entertainment capital of the world. So we have a pretty good idea of where people like to go and why. And more robots, more destinations. We'll also be upgrading the customer experience along the way. And after regulatory approval and the end is very important, after we've also had all of the learnings that we're seeking so that we have really a delightful, consistent, magical experience, we'll start collecting facts.

40:17Caroline Hyde:Zouk CEO Aisha Evans, thank you very much. check.

40:25Caroline Hyde:AI coding startup Replit has raised$250 million in a new funding round that nearly triples its valuation to$3 billion. Prism Capital is leading the financing round, which includes investors such as American Express Ventures and Google's AI Futures Fund, with existing backers including Andreessen Horowitz and Y Combinator. It's a sign of strong investor demand for companies using AI for software development. Right, Cara? Right, let's keep talking about the haves, the have-nots, who's got the money, who's got the checks, whether it's all about AI. Martin Minho is with us, partner at Index Ventures, helped found its New York City presence here back in 2022, who now sits with me at Primary Summit right here in the city.

41:10Martin, we see the extraordinary valuations of generative AI enabling companies. Is that really where the activity still is? Is there room and oxygen in the room for others? I think that's where the majority of the activity is. We see about two-thirds of our deals are in the Gen AI space. But there's also other big areas that are still very active. We still do a lot in healthcare. There's a lot in fintech. So it's not all Gen AI. The other thing is that Gen AI is becoming everything. Everything. You know, you're talking about healthcare, while a lot of the activity in healthcare is GNI related, you know, optimizing back office, improving patient interactions.

41:52So I think this distinction is going to become obsolete very, very soon. Well, look, we just had Sebastian of Klarna as the company goes public. He's a very clear adopter of generative AI within his fintech business. It's a European star that's listed in America. You have a European and UK-based star in Revolut. How hot is the fintech space going to be after this successful exit, it looks like it is? Yeah, first of all, congrats to Klarna on what looks to be a very successful IPO. I think it's a fantastic precedent for European companies, 15 billion plus. It's an amazing, amazing outcome for a great and very unique business.

42:30I think it shows that you can build giant technological companies from Europe, which, you know, there are some doubters out there. But I think, you know, with Spotify and Adyen and Klarna and then in the future, the likes of Revolut, this is coming, you know, again and again. I think the reality with fintech is there were a lot of doubters, you know, saying, well, you know, how are they going to replace banks? How are they going to compete effectively? the cost of capital is higher and so on and so forth. And I think what you're seeing is a lot of incredible businesses being created that are increasingly taking market share and customers by being way more customer-friendly, adopting new tools, offering new products way, way faster.

43:11And Klarna is a good example of that, and Revolut is hopefully an even better example of that. I mean, you are all in on the EU, on European success stories, but you and I are both European transplants moving here to America. Is the reality that the liquidity is here when companies eventually do go public, they're going to want to come to the U.S. capital markets? I think in general, the U.S. capital markets are deeper. There's more capital, there's more analysts, there's more knowledge. So there's clearly a geographical network effect that is happening, is getting stronger. With every IPO, the pool gets stronger and stronger.

43:47So I think there is, you know, this is the primary market. This is the most obvious markets for most companies, not only European. The same for, look at Nubank, another fintech darling listed in New York as well, although only present mostly in Brazil and Latin America. So it's not a European-only phenomenon. What I would say is if I were a European market, I would try to be way more competitive. It's not only about being on par with U.S. markets. It's about offering more to entrepreneurs and founders, to early investors, to make sure you can attract them and you can compete. Otherwise, this geographical network effect will just keep on getting stronger.

44:26And yes, most European companies will end up being listed here. You offer a lot to founders and index ventures. And what an extraordinary year you're having. I'm thinking about the Figma IPO success. You've had significant exits when I think of M &A and WIZ. how does that change the inbound that you're getting when everyone is seeing index so clearly on the map it always has been but from a geographical perspective wins in the u.s in israel and europe yeah it's uh we do have a lot of we do have a lot of inbound um it's been a it's been a fantastic year kind of an overnight success 10 15 years in the making you know like figma we've been investors for for way more than 10 years um so you know it's all happening you know now in some ways because the market is open, the window is open, but there have been relationships that we've been working with for decades, decades plus.

45:16And that's where we bet very early on on these very young founders. I mean, Dylan was 19 when we first invested in him. We're still an intern. Alex at scale was 21. We as staff, we've been working with him in his previous business already, so more than a decade. So those are very, very long-term relationships. that happened to materialize in some exits now. But I think that's the way we think about the business. It's not about, oh, the market's open, let's invest more, let's make a quick buck. We are investing in the very long term. And the investments we make now, we know they're going to take a decade plus to flourish and turn into very large, hopefully independent and public companies.

46:00And that makes LPs excited and committed to stay with you. Very briefly, how's it changing the landscape of VC, though? there is a bit of a meme out there where people thinking that VCs are going to follow the hedge fund and especially the private equity industry where you either go very, very big or you stay very, very niche and there is no place in between. I think our view at Index is slightly different where we believe there is actually a middle ground that is the best, not necessarily for the GPs and the VCs themselves, but definitely for the entrepreneurs where you need enough scale to support entrepreneurs on a global basis.

46:39You know, we cover from Tel Aviv, San Francisco. You need to offer them the services that they need in terms of hiring, in terms of marketing, in terms of sales and customer development. So you need a certain size to pay for that infrastructure, but you also don't want to be too big that you become a corporation and, you know, you have kind of a conveyor belt of founders and there's no individual relationship. Again, you know, we're investing in people. very early on, very often in their journey when they are 19, 20, 21. And that requires a level of empathy, a level of understanding that takes just this interpersonal relationship that you lose when you get to a very large scale.

47:21The very large scale can be very good for the GPs themselves, but not necessarily what the founders really, really need. And so I think that's why we're sticking to that kind of middle size. We think that's the best approach. Martin Mignon from Index Ventures. We so appreciate having him here for the interpersonal relationship that keeps on going. Meanwhile, stick around in the next hour for an interview with New York Governor Kathy Hochul right here from Primary Summit in New York. Ed.

47:47Caroline Hyde:OK, coming up, first responders have told Bloomberg that the design of some Tesla features, such as mechanical releases for the doors, can add complication in the chaotic moments after a crash. We're going to have the details next on a deep Bloomberg investigation. This is Bloomberg Tech.

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50:45Caroline Hyde:Design features on Tesla's electric vehicles, including battery-powered door handles and mechanical releases, have complicated crashes and emergency situations. In particular, when Teslas lose power, crashes can turn into deadly races against time. Reporting by Bloomberg News has found that regulators have been slow to act and complaints about Tesla's doors have piled up. I want to bring in Bloomberg's done a whole part of the team that reported this. What we're talking about in particular is the mechanical override, partly in the rear doors of some Tesla vehicles, that you need to use in the event that in an accident, a Tesla vehicle loses power.

51:26Caroline Hyde:Take us from that point and explain the investigation that Bloomberg News did. Yeah, so to back up for a second, all Tesla vehicles have two batteries. There is the battery that powers the car and dictates the range. And then there's a low voltage battery, typically 12 volts in the Cybertruck. It's 48 volts that powers things like the windows, the doors and the touchscreen. if you lose power, whether because that low voltage battery dies or you're in a crash, the doors lock and you have to get out. You have to know where the mechanical release is. And finding that mechanical release can be really challenging.

52:00Caroline Hyde:There have been some events, case studies, examples in recent years where in fatal crashes, the role or the function of the mechanical override was a factor. So can you explain what we learned? Yeah, so there have been several crashes. And the trick about crashes is that, unfortunately, a lot of the people are dead. So we can't interview them. But I found a crash in Virginia where this couple was in a terrible crash. Scores of people ran to their aid to try to help them, and they could not open the doors from the outside. They had to break a window in order to finally reach in and use hydraulic cutters to cut the door open.

52:42Caroline Hyde:This is a deeply reported, it's a long form written piece. So I would say to the audience, go out and read it. Has Tesla responded to our reporting? They have not. I mean, they were given an opportunity to respond, but they typically don't engage. Have any of the relevant regulatory agencies engaged with us on the reporting? Not really. And I think the thing that's important to note is that there's really a gap in terms of how the regulations around these crashes are currently laid out. crash testing in the United States really focuses on how well does a vehicle perform in like a rollover crash.

53:16And Tesla has an exemplary safety record, five stars across all categories in many ways. But our crash testing doesn't look at what happens to a human being after a crash. How easy is it to get out of the vehicle? How easy is it for first responders to get in? And you're seeing more and more cars with electric door handles and very strong glass that's making egress more difficult?

53:38Caroline Hyde:I drive a Tesla vehicle, as you know, and actually the regular viewers of the show know, I've never been in a crash, and I've never had to be in a situation where I've used the manual override because the battery's lost power. Do you know where your manual override is? I do. So it's different between the front, which is basically a latch, and the rear where you remove a pad and there is a wire mechanism. What I understood from sources in assisting in the reporting a little bit was that you think about the Cybertruck in particular. Could you explain why the design or the shape of the vehicle requires such a mechanism in the rear away from battery just very quickly?

54:12Yeah, well, the doors are very flat, so there's not as much room inside the door panel for those electronic releases. And I think also child safety latches is also a big part of it. You don't want kids to be able to easily open a door from the back seat, but then the downside is that it's very difficult to get out.

54:32Caroline Hyde:But Bloomberg's done a whole with a Bloomberg big take. Go and read it. We ask Tesla for comment. We invite Tesla to comment if and when they're ready to do so. That does it for this edition of Bloomberg Tech. Up next, New York Governor Kathy Hochul joins Bloomberg TV from the primary summit. That's a conversation with Caroline that you do not want to miss coming up. A lot happened in the show. Actually, on a market basis, it was a historic day for Oracle, for Larry Ellison. We recapped Apple and the iPhone 17 generation event and that big take on Tesla. That's the podcast. You know where to find it.

55:05Caroline Hyde:From San Francisco, from New York, this is Bloomberg Tech.

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