Bloomberg News reporters Ryan Vlastelica and Mark Gurman discuss Apple's new AI tools and ChatGPT tie-up at WWDC. They explore the impact on investors, consumer response, and highlight the tech giant's advancements in the AI sector. The podcast also delves into political uncertainties, rise of populism, challenges in the evolving job market, and efforts to address inequities in access to capital for black-owned businesses.
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Quick takeaways
Apple integrates OpenAI’s ChatGPT to enhance AI tools, sparking investor curiosity in consumer response.
Momentus Capital's innovative $171 million fund supports small businesses for social impact and growth.
Balancing short-term shareholder expectations with long-term business growth is crucial in dynamic market environments.
Deep dives
Challenges Faced by Black-Owned Businesses in Accessing Capital
Despite the era of funding leading to a surge in black-owned businesses, obstacles in accessing capital remain. Only 32% of black owners secure loans compared to 54% of white entrepreneurs. They resort to personal funds instead, impacting financial sustainability.
Investing in Small Businesses with Social Impact
Momentus Capital, a nonprofit, announced a $171 million fund to invest in small businesses generating social impact in under-invested communities. Their unique investment model offers growth capital through revenue-based repayments, avoiding traditional debt constraints and equity impacts.
Supporting Healthy Food Distribution and Medical Imaging Technology
Momentus Capital's investments focus on addressing healthcare and food distribution challenges. For instance, they support a healthy food distributor working with diverse farmers and a medical imaging company developing a health screening scanner. Typical investments range between $3-5 million.
Aligning Investments with Social Impact Goals
The Equitable Prosperity Fund targets commercial returns while providing capital without imposing equity ownership on businesses. Its patient and revenue-based repayment structures aid growth without immediate financial burden, aligning with social impact objectives.
Balancing Public Market Expectations and Business Growth
Understanding the evolving dynamics between public markets' demands for quarterly results and private businesses' long-term growth requirements is crucial. As public market pressures intensify, strategic planning and balancing short-term shareholder expectations with long-term growth strategies become essential.
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Bloomberg News equities reporter Ryan Vlastelica joins to discuss why investors are eagerly waiting to see how consumers respond to Apple’s new AI tools. Then, Bloomberg News chief technology correspondent Mark Gurman provides his instant reaction and analysis to the keynote address at Apple’s annual Worldwide Developers Conference where the tech giant announced several new AI tools supported by OpenAI’s ChatGPT. Bloomberg News global economy reporter Enda Curran joins to discuss how right-wing and populist candidates are winning elections around the globe and how markets are responding. Jane Oates, Senior Policy Advisor at WorkingNation breaks down the challenges facing the changing US workforce. Yrenilsa Lopez, Managing Director of Investments at Momentus Capital talks about how the firm is working to build inclusive and equitable communities by providing people access to the capital and opportunities they deserve. And we Drive to the Close with Carol Schleif, CIO at BMO Family Office.
Hosts: Carol Massar and Tim Stenovec
Producer: Paul Brennan, with assistance from Justin Milliner