US Considers Permits for Global Nvidia, AMD AI Chip Sales

19:05Ed Ludlow:Yeah, one of the things that I've been looking at is how quickly the just composition of jobs in our economy is changing because we gain and lose jobs all the time. That's a pretty standard part of an economy. And so just because we lose jobs in one month, it doesn't mean that we should immediately assume that it's AI related job loss. But if we're losing jobs predominantly in one sector, or a couple of sectors that are unusual that look like AI, that's a signal that maybe this is starting to happen. And that's why, at Budget Lab, we've been tracking this measure of occupational distribution every month.

19:40Ed Ludlow:and it still isn't really flashing anything. I think it's really important to separate out the vibes on AI in the labor market from what's happening in the data. And, you know, I think you're just seeing broad agreement that it's not in the data yet. You just saw a report from Anthropic come out yesterday saying, yeah, we're really not seeing macroeconomic impacts here yet.

20:01Caroline Hyde:Vibes are one thing, but Jack Dorsey saying he's cutting half of his staff is a data point. And yes, we can say whether there's some AI washing within it, but still there are executives saying we are not backfilling. We are using AI. We are cutting half of our staff because we think AI is at a cusp where we can do more with it, Martha. When does that start to leach in?

20:24Ed Ludlow:Do you think tracking CEO statements is not the ideal way to look at this for a couple of reasons? One is there's huge selection in who even makes a statement about layoffs. your hardware store down the street is not issuing a statement every time they lay someone off. There's selection effects in whose statements get covered, right? The statement from Jack Dorsey was, you know, very eye-catching, and so it got picked up. And also, frankly, you know, CEOs have incentives to talk about things in a certain way. Shareholders want to hear that they're making AI investments and driving productivity.

20:59Ed Ludlow:And they may not even have a perfect sense of what hiring would look like in the absence of AI. And so I do think it's a moment where, you know, yes, we should listen to people about what's going on. We should listen to CEOs. But it's really important to go back to the data and make sure we're taking a really data-driven approach here rather than, you know, following the latest company announcement.

21:22Caroline Hyde:And that is why your data approach is so important. Some of the research you do is just great. Go and read it. Labor market AI exposure. What do we know? For example, Martha Gimbel, Executive Director and co-founder at the Yale Budget Lab. We appreciate you. Now coming up, SoftBank in search of$40 million to fuel its AI ambitions. More on that next. This is Bloomberg Tech.

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22:16Caroline Hyde:If you're building software of any kind,

22:18Ed Ludlow:you're really going to want to check out Century. When something goes wrong, Century gives you a whole chain of events in one place from errors, traces, replays, logs, and it's all connected. so you can see exactly what led to the issue without digging through five different dashboards. Sentry is used by millions of developers behind some of the biggest apps like

22:38Caroline Hyde:Claude, Disney Plus, and Duolingo. Sentry supports over 100 languages and frameworks across front-end, back-end, and mobile.

22:47Ed Ludlow:Try it free at sentry.io. Support for the show comes from Public, the investing platform for those who take it seriously. On public, you can build a multi-asset portfolio of stocks, bonds, options, crypto, and now generated assets, which allow you to turn any idea into an investable index with AI. It all starts with your prompt. From renewable energy companies with high free cash flow to semiconductor suppliers growing revenue over 20 % year over year, you can literally type any prompt and put the AI to work. It screens thousands of stocks, builds a one-of-a-kind index, and lets you backtest it against the S &P 500.

23:23Ed Ludlow:Then you can invest in a few clicks. generated assets are like etfs with infinite possibilities completely customizable and based on your thesis not someone else's go to public.com slash podcast and earn an uncapped one percent bonus when you transfer your portfolio that's public.com slash podcast paid for by public investing brokerage services by open to the public investing inc member finra and sipc advisory services by public advisors llc sec registered advisor generated assets is an interactive analysis tool output is for informational purposes only and is not an investment recommendation or advice complete disclosures available at public.com slash disclosures

23:59Caroline Hyde:It's time now for Talking Tech. And first up, Robinhood raised$658 million for its closed-end fund designed to give U.S. retail investors access to private companies. Robinhood CEO Vlad Tenev joined Open Interest. Just take a listen.

24:13Ed Ludlow:Robinhood Ventures is a closed-end fund listed on the NYSE that invests in private companies. The idea is we raise the capital in an IPO and then we invest that capital in private companies. And so far, we've got a portfolio of frontier names in their industries. You mentioned Databricks, Aura, Mercore, Revolut, Ramp. Those are just some of the companies that are part of this portfolio.

24:43Caroline Hyde:Class Uber. Well, it has posted job listings that suggest the ride share company is stepping up efforts to test a subscription offering for drivers and couriers around the world. Now, the move underscores a sharper focus on subscriptions as emerging competitors lure drivers with flat fee models. And SoftBank, well, it's seeking up to$40 billion from banks to help finance its investment in OpenAI. Now, that's according to sources. The roughly 12-month bridge loan will be underwritten by four lenders, including JPMorgan Chase. Look, SoftBank has been unloading assets, in fact, including its stake in NVIDIA to bankroll its growing bet on OpenAI.

25:17Caroline Hyde:But, Ed, it's an interesting time to be wanting more banks to be syndicating debt at the moment exposed to AI. Because credit pressure is building. On SoftBank in particular, but broadly, a 12-month bridge loan. And remind yourself that$40 billion is their largest ever US-denominated borrowing, Cara. Isn't it? Also, within that conversation, we're just hearing from Vlad Tenev and Robin Hood. On one side, people still wanting access to private markets. But then we have today the news around BlackRock and its private market credit fund and having to say, look, you can't keep taking money from it at the moment.

25:49Caroline Hyde:It's really extraordinary moves. Yeah, we've been on top of it all week. That credit story is not going away. Okay, coming up, we're going to discuss the data center threats in the Middle East with Sam Winterlevy of the Carnegie Endowment for International Peace. That's next. It's halftime. This is Bloomberg Tech.

26:14Caroline Hyde:Welcome back to Bloomberg Tech. This is what markets look like on Friday to end the week. There's a lot going on in the context of Bloomberg's reporting on the tech sector and the war in Iran. The Nasdaq 100 is off session lows, but down eight tenths of a percent. And bonds have kind of been wavering. You see the U.S. 10-year yield at 4.14%. Interestingly, a lot of pressure on the Nasdaq 100 in the moment is coming from some of the mega cap names. I was talking with the team, Caro, on the equities desk. What's going on? There is some kind of stabilization in memory pricing, for example. We know that there's a recalculation in recent days of capital expenditures that impacts some of the hyperscalers.

26:53Caroline Hyde:But you look at Apple, Meta, Tesla, Amazon, those are on a points basis the biggest drags right now. And not that much in the news flow beyond. It's just, I guess, a volatile week politically speaking. And as we went through with Ted, there's a lot that the market needs clarity on. Yeah. Let's talk about one of those stories, politically speaking. anthropic. It's vowed to legally contest a Pentagon decision that declared the company a U.S. supply chain threat, a designation typically reserved for foreign adversaries, capping off a very turbulent week in the AI race. Bloomberg's Shereen Khafari joins us now for more on the unfolding AI saga that you have been at the forefront of reporting with for at least a week now.

27:31Caroline Hyde:It was last week where we first saw the explosive conversation around being deemed a supply chain risk, and now it's come in writing.

27:41Ed Ludlow:That's right. And, you know, Dario Amadei, the CEO of Anthropic, also put out a memo yesterday saying that he believes that the order is narrow in scope to the effect that it won't actually impact, hopefully, business with customers who are not the government or working directly with the Pentagon. I think it's going to take a while to figure out exactly how customers react to this.

28:08Caroline Hyde:A few places that we've looked over recent days, interesting. There's the sensor tower data on uninstalls and downloads, and there's the app stores. And as part of the Q &AI newsletter, we're going to look at this idea that there have been changes in ChatGPT, OpenAI's tool, in terms of downloads and uninstalls, and then Claude, Anthropics. What are you seeing?

28:31Ed Ludlow:Yeah, so it's really interesting because Anthropics' Claude business has historically been more enterprise, especially in the past year. And now we're seeing this shift, this sort of consumer bump for the Claude app. And a lot of that is because some users agree with the company's stance on pushing for restrictions on surveillance and autonomous weaponry in their negotiations with the Department of War. So now those gains are up to a million downloads a day. Yesterday, the company was saying. That being said, ChatGPT by far has a large majority of the market share here. It's going to take a lot of sustained growth at that level for Anthropic to even come close to ChatGPT on the consumer side.

29:17Ed Ludlow:But consumer support, any kind of support is much needed for Anthropic right now.

29:22Caroline Hyde:So that is an interesting bump. In terms of just where they stand in consumer penetration, it is much smaller than OpenAI more broadly. How much of a concern is it to Anthropic that the enterprise part of the business could be impacted if they are asked to uninstall? As you said, there is clarification that really it wouldn't extend to too many parts of the other companies that use Claude only with Pentagon contracts.

29:51Ed Ludlow:That's right. This is the million, billion, multi-billion dollar question, right? Anthropic has grown very rapidly in the past year. It's now at a reported 19 billion in run rate revenue. However, a majority of that does come from enterprise contracts. So if they are enterprise business, so if they are losing marquee customers over this who may also have dealings themselves with the Pentagon and are worried about the implications of the supplier risk designation, that could be devastating to Anthropics. So that is a big question, is how, why does the supplier risk designation really go? Will Anthropics end up legally challenging it?

30:30Ed Ludlow:And is this issue resolved? I think that's going to be the question to watch for customers.

30:36Caroline Hyde:Bloomberg, Shereen Ghaffari, thank you very much. And as tensions rise between Washington and leading AI firms, the global stakes are growing as well. Data centers, the backbone of artificial intelligence, have now emerged as potential targets in the escalating conflict in the Middle East. Let's bring in Sam Winterlevy, Carnegie Endowment for International Peace Fellow. 24 hours ago, we went to our correspondent in the EMEA region and went through the specific sites that have been targeted, the reason why. And just for the audience, Amazon owns and operates some of those facilities. You've had time to do your own research and study of the data, how does this fit in, this idea that data centers are a target in the context of a war in Iran and a conflict between the United States and Iran?

31:25Ed Ludlow:Sure, yeah. So thanks so much for having me. Data centers are becoming increasingly central to a very broad range of economic life, national security activities, and they are fundamentally soft targets. So for the Iranians looking for targets that they could hit that could cause disruption, could try to broaden the conflict, could bring the conflict home to the United States, targeting a data center that is operated by a U.S. company, that's a symbol of U.S.-Gulf cooperation, it becomes quite an appealing target given how easy they are to hit with a drone, with a barrage of missile strikes, given how fragile and vulnerable these facilities are.

31:59Caroline Hyde:Vulnerable. How do you protect a data center in this case? Sure.

32:05Ed Ludlow:So it's hard. So fundamentally, these data centers are filled with GPUs. They're very fragile, it's quite easy to take out a chiller, which are these things that keep the data centers cool, keep the servers cool, or to take out a generator or the transformers that provide electricity to the data center. There are things you can do. You can use more reinforced concrete. You can try to harden the facilities. You can use air defense systems, anti-drone devices, jamming systems, anti-missile systems. But all of this drives up the costs of building a data center, and none of this will guarantee security against a kind of swarm of cheap drones, and it's very, very expensive to protect against these sorts of cheap strikes.

32:40Ed Ludlow:So there are things you can do to protect them. I think historically these companies and the governments have been much more focused on protecting data centers from cyber attacks, protecting them from trespasses, but much less focused on strikes from drones or from missiles, which is an inevitable risk, I think, to building expensive infrastructure in a region where drones and missile strikes are unfortunately a real risk to worry about.

33:04Caroline Hyde:And you saw this risk. You wrote about it in July in an opinion column, really saying that the Gulf is not a place to be building out these data centers, Sam. But also the Gulf is the place longer term with more abundant energy. And the Gulf is the place that also needs AI for its own citizens. So what do they do?

33:23Ed Ludlow:Yeah, so the Gulf has huge ambitions in the AI race. And they're very appealing partners for the United States for many reasons. Energy, capital, all the things you mentioned. So I think it's inevitable that data centers are going to be built out in the region. I think this underscores the risks of building the biggest computing clusters there, the most critical infrastructure. I think that the United States should think very carefully about where it wants to site that sort of infrastructure. But some degree of data center construction is inevitable in the Gulf. But I think governments and the companies that operate the data centers need to think much more carefully about their resilience plans, their redundancy plans, how to protect them from these sorts of physical risks.

33:59Ed Ludlow:Because as you said, this was a foreseeable risk. These targets are soft. the more they become symbols of technological might, the more they become central to economic life, the more appealing they become as targets for non-state actors or for hostile states that want to cause disruption.

34:13Caroline Hyde:Okay, there is a lot that goes into a decision as to where to put a data center, not only about the power that's accessible, the water, but the people and the labor and the costs, Sam. Therefore, with your Carnegie and Talman international peace hat on, Where should these be built from a U.S. perspective?

34:32Ed Ludlow:So I think these data centers are going to be built all over the world. I think we should be building them all over the world. I think for the biggest, most important, most critical computing clusters, the United States should be thinking carefully about siding them in close U.S. allies, NATO states, within the United States itself, areas where they can be kind of protected from attacks or where they can be more easily protected from attacks. That's not to say that we shouldn't be building big facilities in the Gulf too, but probably not our most critical computing clusters. And I would also say that these drone strikes do also underscore that data centers all over the world could be a threat.

35:07Ed Ludlow:So even a data center in Europe could well be targeted by Russian sabotage, for example. You know, these are fragile sites wherever they're started.

35:15Caroline Hyde:Sam, you know, the argument the Gulf is not the place to build the world's AI infrastructure. the reality is that is exactly where they're building the world's AI infrastructure. And it's where the capital is coming from. And it's where NVIDIA and AMD have deals to send their chips. And you have capital flowing from the Gulf into the United States to fund infrastructure projects in the United States. I mean, I welcome any response to that reality that you have.

35:45Ed Ludlow:Yes, I think that is the reality to some extent. The question is to what extent we go forward with these types of projects. It remains to be seen what this will look like after this conflict. I think it's certainly going to drive up insurance premiums. It may make it harder to attract engineering talent to build out these data centers. I think this won't make the UAE or the Saudi Arabia rethink their plans to any great extent, but I think it will complicate those plans. I think it should make the U.S. government much more cautious about where it's its most critical data centers. But again, as I said, data centers are going to be built everywhere.

36:20Ed Ludlow:I think this attack should be a wake-up call that all of these data centers need to think much more seriously about physical attacks and not just cyber attacks, digital disruptions, natural disasters.

36:28Caroline Hyde:A wake-up call you've been trying to give for at least six months now. Sam, when to leave you, we appreciate your time of Carnegie Endowment for international peace. Coming up, how are supply chain risks impacting the world's largest automotive supplier? We're actually going to hear from the Bosch CEO now, Stefan Herteng. that's Nexus Bloomberg Tech.

36:49Ed Ludlow:If you're building software of any kind, you really want to check out Sentry. Most tools just tell you something broke, but Sentry actually connects everything together. Errors, traces, session replays, logs, they're all in one place so you can see the full chain of events that led to an issue. There's no more jumping between five different tabs or pasting code into an LLM to piece together what happened. Sentry supports over 100 languages and frameworks across front-end, back-end, and mobile. Quit bugging and try it free at s-c-n-t-r-y dot i-o. Support for the show comes from Public, the investing platform for those who take it seriously.

37:25Ed Ludlow:On Public, you can build a multi-asset portfolio of stocks, bonds, options, crypto, and now generated assets, which allow you to turn any idea into an investable index with AI. It all starts with your prompt, from renewable energy companies with high free cash flow to semiconductor suppliers growing revenue over 20 % year over year. You can literally type any prompt and put the AI to work. It screens thousands of stocks, builds a one-of-a-kind index, and lets you backtest it against the S &P 500. Then you can invest in a few clicks. Generated assets are like ETFs with infinite possibilities, completely customizable and based on your thesis, not someone else's.

37:59Ed Ludlow:Go to public.com slash podcast and earn an uncapped 1 % bonus when you transfer your portfolio. That's public.com slash podcast. Paid for by public investing. Brokerage services by open to the Public Investing Inc., member FINRA and SIPC. Advisory services by Public Advisors LLC, SEC Registered Advisor. Generated Assets is an interactive analysis tool. Output is for informational purposes only and is not an investment recommendation or advice. Complete disclosures available at public.com slash disclosures. This is Jacob Goldstein from What's Your Problem? When you buy business software from lots of vendors, the costs add up and it gets complicated and confusing.

38:30Ed Ludlow:Odoo solves this. It's a single company that sells a suite of enterprise apps that handles everything from accounting to inventory to sales. Odoo is all connected on a single platform in a simple and affordable way. You can save money without missing out on the features you need. Check out Odoo at odoo.com. That's odoo.com.

39:00Caroline Hyde:The conflict in the Middle East is in its seventh day, And with President Trump insisting on unconditional surrender from Iran, concerns about the impact on global supply chains are rising. I spoke with Bosch CEO Stefan Houghton about what that's meant for the automotive industry so far.

39:16Ed Ludlow:We've seen that EVs have heard the first wave and that was not as big as we all expected, especially in the U.S. We saw less demand than we actually were hoping for. So now a second wave comes in with still EVs, but also plug-in hybrid vehicles or range extender vehicles. That's a very interesting technology, which you also see in China. So very much all work is now focused on this combination of electric vehicle technology and engine technology. And this engine technology is a modern engine technology with a differentiated engine. So Bosch is doing this work because we have kept our capability in engine work, ICs.

39:54Ed Ludlow:and we can combine these two into the plug-in and hybrid vehicles. Very important. So I expect actually demand for these kind of vehicles to be rising quickly because they are more fuel efficient. And same time, they have a range which you want to have and you can still pull a boat or have a heavy vehicle, which is practically of use for many people.

40:14Caroline Hyde:But the situation with the war in Iran has any impact or bearing on that?

40:19Ed Ludlow:Well, I think people will be sensitive always now a bit more on what gas prices are, how much they have to spend for the vehicle, what's the vehicle use, and probably this plug-in hybrid vehicles or hybrid vehicles in total with a certain electrical range, which is really useful. So you can drive electrically for a certain range and then you have to or you will switch over to gasoline. This is something which is for the market the optimal solution as of now. It looks like it. And obviously, people becoming more sensitive about gasoline prices means they will tend more not go from a pure ICE vehicle more to a combined so hybrid vehicle or even a full electric vehicle that's for sure.

40:59Caroline Hyde:We started this conversation with semiconductors you talked about the situation with the start of the year but also some parallels with the COVID era and the chip shock the chip crisis is this war in Iran different do you see there being a similar level of impact on semiconductor supply or bottleneck? And where are you most focused within the realm of silicon?

41:30Ed Ludlow:On silicon, I'm more watching the AI build up, because the AI build up, for example, demands a high amount of RAMs, right? And I also observe that because the same time we are looking at the ship supply for all applications we do, but at the same time, we're also applying AI in a massive volume. So that's a very important thing to monitor. These chips are used in AI data centers to build the AI we need to implement solutions like accident prevention in cars. And that's the business cases which also AI needs. So, yes, it is a balance. And yes, there will be probably a shortage in certain components because the ramp up of AI infrastructure is massive.

42:13Ed Ludlow:On the other hand, this infrastructure is used also in product we make. So it's used in household appliances, in power tools, in cars. And that's an important story to go forward.

42:25Caroline Hyde:Is there some panic right now in trying to secure memory in particular?

42:30Ed Ludlow:No, I wouldn't say there is panic. It's something we know. We have seen more severe chip crisis some years ago, right? But it's something obviously you need to look at because you also want the functionality, right? You want the AI functionality, you want the better automation of vehicles, you want the better assisted driving, because that's safer. It's better than just human driving. So also in the automation, you see probably both. You see the full automation, like in the EV, the full EV, right? But you see also the hybrid, which is the massive assisted automation, making a driver just a better driver.

43:03Ed Ludlow:And that's based on AI.

43:05Caroline Hyde:Bosch CEO there, Stefan Hartung. Coming up, the massive boom in AI data centers is driving demand for housing and amenities in remote parts of the country. We'll talk about the state that's on demand. Simulated golf. This is Bloomberg Tech.

43:30Caroline Hyde:Construction of data centers has led to increased competition for workers in areas with limited housing and amenities. Cue the rise of so-called AI man camps. Take a listen.

43:43Ed Ludlow:To power the boom in data center building, companies are heading far outside of Silicon Valley and cities in general. We're starting to see some pushback from cities where residents are kind of concerned about what living near a data center might mean for their property values and for their way of life. We're seeing projects push out further into rural stretches of places like Texas and Louisiana because you can get much cheaper land out there. and you can also find municipalities that are more willing to work with you when you need to negotiate things like power arrangements or zoning changes.

44:13Ed Ludlow:While the AI companies are duking it out to figure out whose model will win, there are these other companies that see opportunity just in the build-out itself. There is a huge demand to build data centers as quickly as they can, so housing becomes a big bottleneck. Most of these places that these projects are getting built now just do not have the infrastructure that they need for this. Hotels fill right up, RV parks are completely full with workers. All of a sudden there's a line at the grocery store or at the gas pump. We have a lot of these sort of single lane county roads, and they're not built for rows and rows of heavy duty trucks driving on them all day.

44:47Ed Ludlow:And so you get roads kind of deteriorating. People are paying thousands of dollars a month just to rent RV spaces near construction sites. We're seeing a wide range of companies get into this, all the way from Wiley locals that pitch together a little bit of land and sell the RV spots, all the way up to major publicly traded corporations helping house workers. They've helped with oil and gas and the shale boom. If you look at it from above, it looks like an Excel spreadsheet cut out of the middle of farmland. You get this paved surface where you have rows and rows of gray roofs and temporary housing.

45:17Ed Ludlow:They'll have their own toilet or they'll have their own sink. They always have Wi-Fi so that you can make video calls to family back home. And then there will be a shared communal kind of dining setup. They place so much emphasis on the food, not only because these guys are working so hard all day that they need the calories, but also because it's an easy way to attract workers when there's such competition for them. We'll also see a lot of amenity space. These are workers that are spending 15, 16 hours a day doing manual labor. You know, I figured when they got home they'd want to go to sleep, but apparently they're often gyms so they can get workouts in.

45:50Caroline Hyde:And you can see the rest of the full story from Bloomberg Originals on our website, on YouTube, or the terminal, and we want to get more on this story now. The driving force and the impact of these data center camps, Bloomberg's Joe reporter, Bloomberg's reporter Joe Lovinger. We were just seeing you there in the originals piece. And Joe, talk to us about some of the companies that are actually going to be thriving in this moment, the ones that are actually doing the building of, because people, there's a great quote in your story, people don't want to be basically sleeping in their trailer.

46:17Ed Ludlow:That's right. Thank you for having me. Well, we're seeing companies ranging all the way from smaller local companies that have been working on oil fields all the way up to publicly traded corporations where they're using the same assets that they were for immigration facilities or for major drilling projects during the shale boom. And they're using these assets now to build out these man camps. And so these are companies like Target Hospitality or Civio. And what they're able to do is reallocate their resources. Until recently, oil was not priced very lucratively, so drilling had kind of declined.

46:59Ed Ludlow:So this presented a new opportunity with all of these projects, especially as they're pushing out further into rural Texas, rural Louisiana, places that just, you know, you show up in a place like Dickens County, which I wrote about in the story, you know, you'll find a couple of restaurants, you might find a motel, but it's just not nearly enough for a 1 ,500-man workforce that's being brought in to build these data centers.

47:22Caroline Hyde:At a more macro level, the data is quite compelling. What the story is here, right? Jobs growth and the data center build out. Zoom out a bit. What direction is this heading in at scale? Right.

47:38Ed Ludlow:We've seen a state like Texas, for example. I mean, if you talk to the leaders, if you talk to the hyperscalers, they're very bullish on the opportunity for building data centers in Texas. There's abundant land here. There's abundant energy. And Texas leaders see this as an opportunity to overtake Virginia even in the data center space. So, you know, Bloomberg Intelligence estimates that there's$700 billion worth of projects that are just in the planning stage right now. And I don't need to tell you, artificial intelligence, it's growing at a pace that really is hard to keep, you know, keep tabs on.

48:11Ed Ludlow:So these companies that I've spoken with, you know, they see a very, very high ceiling for where this build out can go.

48:19Caroline Hyde:I mean, the number of Bloomberg Intelligence is saying$700 billion worth of projects in the planning stage,$160 billion already underway. But Joe, the word camps kind of says it all in that these aren't permanent housing. Briefly, it's not long term jobs.

48:35Ed Ludlow:That's right. And when you speak with local officials, even in a place like Dickens County that has not seen a project nearly of this scale. They're aware that these jobs are not going to stick around forever and that while you might have some people that stick around to work on the data center once it's built, most of them are going to have to get out of town. So, you know, it's

48:57Caroline Hyde:temporary. Bloomberg's Joe Lovinger. Great reporting in video, in print. Great to have you on the program. Caro? Yeah, that does it for an extraordinary week on Bloomberg TechEd. Yeah, a lot to recap. do it on the podcast. You know where to find it. It's all on the screen there, but Spotify, iHeart and Apple. This is Bloomberg Tech.

49:18Ed Ludlow:If you love high stakes competition and incredible food, don't miss America's Culinary Cup, premiering Wednesday on CBS. 16 of the most decorated chefs in the country go head to head for an unprecedented$1 million prize. Hosted by Emmy-nominated food expert Padma Lakshmi, This is a high-pressure arena where every dish matters and one mistake sends you home. America's Culinary Cup premieres Wednesday after Survivor on CBS and streaming on Paramount+. If you're building software of any kind, you're really going to want to check out Sentry. Sentry is the all-in-one application code monitoring and fixing toolkit.

49:56Ed Ludlow:And Sentry doesn't just catch errors. It catches all the stuff that makes your app feel broken. The random slowdowns, the freezes you can't reproduce, and the bug that really just shows up randomly. Sentry supports over 100 languages and frameworks across front-end, back-end, and mobile. Try it free at sentry.io. This is Jacob Goldstein from What's Your Problem? When you buy business software from lots of vendors, the costs add up and it gets complicated and confusing. Odoo solves this. It's a single company that sells a suite of enterprise apps that handles everything from accounting to inventory to sales.

50:37Ed Ludlow:Odoo is all connected on a single platform in a simple and affordable way. You can save money without missing out on the features you need. Check out Odoo at odoo.com. That's odoo.com.