Bloomberg Talks

Tarek Mansour, CEO and co-founder of Kalshi, dives into the transformative role of AI in prediction markets. He reveals how a partnership with Elon Musk's xAI is enhancing forecasting accuracy. The conversation explores the challenges and opportunities this technology brings for both retail and institutional investors. Tarek also discusses the importance of selecting engaging topics for prediction markets and shares insights on trading trends during major events, suggesting a bright future amid growing competition.

Eni Aluko, a former England Lioness and advisor to Mercury13, dives into the thrilling world of women's football. She discusses the significance of the Women's European Football Championship final and its record attendance. Aluko emphasizes the need for investment in women's sport, advocating for innovative structures to foster growth. She also touches on the evolving broadcast landscape and the ongoing fight against racism in football, highlighting the importance of accountability in making the sport more inclusive and accessible.

Bill McDermott, Chairman and CEO of ServiceNow, shares insights on how AI is revolutionizing business dynamics. He highlights impressive earnings and reveals how AI is streamlining operations and reducing labor costs. McDermott discusses the transformative potential of generative AI for customer experiences and the importance of reskilling the workforce amid changing job roles. He also emphasizes the significance of AI in fostering government efficiency and the necessity of navigating regulations to drive innovation.

A White House Senior Policy Advisor delves into the future of AI policy and its national implications. Key discussions revolve around the U.S. positioning itself as a global leader in AI standards while navigating geopolitical tensions, particularly with China. The competitive landscape among semiconductor giants like NVIDIA and AMD is examined, emphasizing the need for supportive policies. The podcast also highlights the importance of American technology in the global AI arena, using a pro wrestling metaphor to describe its competitive edge.

Adena Friedman, Chair and CEO of Nasdaq, shares insights into the company's impressive growth and earnings in the first half of the year. She discusses the rising confidence in IPOs, highlighting successes in large-cap companies and the booming biotech and tech sectors. Adena also delves into the intriguing resurgence of meme stocks and the transformative impact of AI in finance. Additionally, she explores how tokenization is revolutionizing trading by enhancing market access while maintaining the integrity of underlying equities.

Jon Gray, President & COO of Blackstone, shares fascinating insights into the firm’s robust $52 billion in earnings and the rising trend of retail investments. He discusses the challenges and opportunities in tariffs and trade deals, along with a bright outlook for real estate. Gray also delves into the Federal Reserve's interest rate policies and their impact on inflation, while highlighting the transformative potential of AI and data center investments, all amidst a dynamic economic landscape.

Dan Ives, a Wedbush analyst known for his insights in the tech sector, discusses the rocky road ahead for Tesla. He highlights the challenges following one of Tesla's worst quarters in over a decade. Ives explains Elon Musk's announcement of a transitional phase for the company as it shifts focus from electric vehicle incentives to the rollout of autonomous vehicles. He notes that investors are eager for specific advancements in autonomy but are left wanting after Tesla's vague milestones.

Mike Mayo, Head of US Large Cap Bank Research at Wells Fargo, dives into the current strength of US banks and the technological innovations leading the sector. He discusses JP Morgan's proactive approach to integrating AI while warning of the repercussions for banks that fail to adapt. The conversation also touches on upcoming regulatory changes that could favor larger institutions and the potential for Citigroup's restructuring to drive future profitability. Insights on shadow banking and its rising significance are also highlighted.

Scott Bessent, U.S. Treasury Secretary, provides insight into the complexities of U.S. trade negotiations, particularly with Japan and the EU. He highlights the unique strategies that led to Japan's deal with the U.S., emphasizing the importance of innovative financing. Bessent also addresses the dynamic tensions with China and its impact on future trade deals. Additionally, he discusses potential candidates to succeed Fed Chair Powell, hinting at a focus on diversity and effective leadership in navigating economic challenges.

Howard Lutnick, the US Commerce Secretary, shares insights on a recent trade deal with Japan that could serve as a model for future agreements with the EU. He discusses Japan's extensive $550 billion fund to boost American manufacturing, especially in pharmaceuticals and semiconductors. Lutnick highlights the tough stance on tariffs, noting that larger countries may struggle to achieve a lower rate than Japan's 15%. The conversation also touches on the implications for American exporters and the evolving dynamics of US-China trade relations.