Bloomberg Talks

Jemma Conner from YouGov reveals a bleak economic outlook among Europeans, with many expecting a recession soon. Despite financial woes, there's a surprising consensus on the need for regulating artificial intelligence, with majorities across countries supporting tighter controls. The discussion also highlights the varying attitudes toward defense spending, influenced by geographical proximity to Russia. Overall, the survey indicates a pressing need for policymakers to address economic relief and security concerns.

Colin Allred discusses the power of grassroots movements, emphasizing how to channel the energy from the No Kings protests into voter turnout. He critiques Republican strategies amid a government shutdown and advocates for bipartisan negotiation on crucial issues like healthcare. Allred also shares his optimism for his Senate campaign, aiming to connect with working-class voters and address their cost concerns. The conversation highlights the significance of peaceful protests and their potential impact on the electoral landscape.

U.S. Senator Ted Cruz, also chair of the Senate Commerce Committee, dives into the pressing issue of the government shutdown. He outlines the negative impacts on TSA and air traffic personnel, urging immediate action. Cruz discusses the controversial No Kings rallies, questioning their authenticity and potential political implications. He emphasizes the need for legislation to safeguard free speech and highlights NASA's Artemis program as vital for competing with China in space exploration.

Groq's CEO discusses an exciting new partnership with IBM, focusing on how IBM will sell Groq's high-performance LPUs through WatsonX. The financial implications are intriguing, revealing a revenue share model with promising performance metrics. Early adopters from financial services are paving the way for accelerated inference. Despite supply constraints, Groq’s supply chain is poised for quick ramp-up. The synergy of Groq's technology and IBM's reach promises to reshape AI accessibility, driving innovation across industries.

Todd McKinnon, CEO of Okta, dives into the complexities surrounding AWS outages and their impact on cybersecurity. He highlights the importance of backup systems and redundancy in ensuring reliability. The conversation shifts to Okta's rapid growth, emphasizing a focus on identity management over complete cyber stacks. McKinnon also discusses the implications of AI advancements, how they drive demand for identity services, and the challenges posed by AI threats, particularly with the rise of tools like ChatGPT.

Harvey Schwartz, CEO of Carlyle, and Laurent Mekies, Team Principal of Red Bull Racing, delve into their exciting F1 partnership ahead of the U.S. Grand Prix. They discuss the thrill of seeing Carlyle's branding on the car and the strategic alignment of their collaboration. The duo also addresses the influx of institutional investment in F1, impacting fan engagement and sport dynamics. Additionally, they reflect on leadership lessons and the importance of maintaining focus on performance while navigating market uncertainties.

UK Chancellor Rachel Reeves dives into the intricate balancing act of increasing fiscal headroom while adhering to stringent rules. She addresses tax strategies, emphasizing a focus on wealth and business taxation to promote growth. Concerns about possible tax-induced emigration are tackled with plans for visa expansions. Reeves also discusses vital welfare reforms and a new initiative aimed at enhancing youth employment. Finally, she hints at potential changes in growth forecasts, highlighting the importance of policies to exceed expectations.

Christian Sewing, CEO of Deutsche Bank, provides insights on the bank's robust credit portfolio despite recent market upheavals. He discusses strong corporate confidence and the surprising market optimism he observes. Sewing emphasizes the need for structural reforms to enhance European competitiveness and the importance of fiscal policy aligned with sustainable growth. He also highlights Deutsche Bank's preference for organic growth and the strategic use of AI to drive efficiency and profitability, showcasing a forward-thinking approach in a shifting financial landscape.

Chris Whalen, founder of Whalen Global Advisors and a seasoned commentator on finance, shares his insights into the American financial system. He warns against repeating 2006's structural mistakes and discusses brewing issues in the banking sector. Whalen emphasizes the importance of gold as a hedge against currency debasement and highlights current liquidity risks in fixed income. He also explores housing affordability and the potential for market resets by 2028, along with his upcoming publications.

Steve Pagliuca, a senior advisor at Bain Capital Private Equity and expert in leveraged buyouts, chats with Bloomberg’s Jonathan Ferro and Annmarie Hordern. Pagliuca discusses his confidence in private credit despite concerns over the U.S. national debt and its refinancing risks. He contrasts the Electronic Arts buyout with HCA and examines how market changes have affected deal structures. With insights into sports valuations and the growth of women’s sports, Pagliuca also reflects on his family's immigrant story and the alignment of personal and professional values.