Bloomberg Talks

Mary Daly, the President of the Federal Reserve Bank of San Francisco, dives deep into inflation and productivity. She warns that maintaining high interest rates too long could echo past mistakes from the 1970s. Daly discusses the potential of AI to drive productivity growth, showing optimistic trends across various firms. She emphasizes the importance of monitoring firms' pricing intentions to gauge inflation pressures. With a focus on the labor market, she details how recent changes indicate demand shifts and examines how monetary policy still functions effectively despite perceptions to the contrary.

Jason Robins, Co-founder and CEO of DraftKings, shares insights about the company’s striking partnership with Walt Disney Co. to become ESPN's official betting site. He emphasizes the significance of the ESPN deal, suggesting it as a strategic advantage for DraftKings. Robins also discusses the potential of predictions markets and the importance of careful investment and data-driven marketing. He expresses optimism about the company’s financial turnaround and growth, revealing a strong confidence in the brand's future.

Rick Rieder, Chief Investment Officer of Global Fixed Income at BlackRock, shares insights on the current economic landscape. He argues for lower Fed rates to support small businesses and housing. Rieder highlights the importance of data in shaping BlackRock's investment strategy, including credit card analytics and AI tools. He discusses record bond sales amid tight financial conditions and raises concerns about frothy valuations in the tech sector. Rieder also emphasizes the need for yield-curve stability and a careful Fed transition.

Andrew Bailey, Governor of the Bank of England, discusses the current state of UK monetary policy amid pressures from public figures like Nigel Farage. He elaborates on his decision to hold interest rates at 4% and the factors influencing future monetary decisions. Bailey also explores the implications of artificial intelligence on productivity, expressing caution about market valuations. Additionally, he addresses concerns regarding private credit risks and emphasizes his commitment to completing his term despite external pressures.

Cathie Wood, Founder and CEO of ARK Invest and known for her bullish stance on Tesla, dives into the controversial pay package of Elon Musk. She defends it, asserting the incentives align with long-term success. Wood also discusses ARK's valuation prediction for Tesla, emphasizing the importance of robotaxis. She reflects on current skepticism in the tech sector, likening it to the late '90s, and identifies buying opportunities in life sciences and AI in healthcare. Her insights illuminate ARK's strategic position in a changing landscape.

Esther George, the former President of the Federal Reserve Bank of Kansas City, shares her insights with Bloomberg hosts Jonathan Ferro and Lisa Abramowicz. They discuss the current lack of consensus within the Federal Reserve and the challenges posed by mixed labor market signals. George highlights how rising federal debt complicates monetary policy decisions and could lead to increased inflation. She also considers potential future rate paths, indicating that uncertainty will likely persist as policymakers navigate these complex issues.

Valdis Dombrovskis, the EU's Economy and Productivity Commissioner, dives into pressing economic issues. He discusses innovative strategies for utilizing frozen Russian assets to fund support for Ukraine. The conversation also highlights the EU's engagement with China regarding rare earths and the implications for supply-chain resilience. Dombrovskis outlines efforts towards regulatory simplification, aiming for a more efficient EU while balancing external pressures and maintaining its autonomy.

Vlad Tenev, Co-founder and CEO of Robinhood, shares insights into the retail investing platform's recent Q3 earnings, which surprised analysts with a profit but disappointing crypto revenue. He delves into the changing behaviors of customers, particularly how younger users are driving the growth of prediction markets. Tenev discusses Robinhood's plans to evolve into a multi-generational financial super app, focusing on banking and retirement offerings, as well as the company's long-term vision for institutional and international revenue streams.

Rick Wurster, President and CEO of Charles Schwab, shares insights from his first year leading the firm. He highlights the importance of advisor services and the firm’s focus on long-term investing amidst market volatility. Wurster discusses retail traders’ resilience and how Schwab differentiates itself from platforms like Robinhood. He also explores the growing interest in crypto among clients and outlines Schwab's plans for retail access to private markets. Plus, hear his strategies for attracting Gen Z investors and navigating market impacts of elections.

David Zhu, CEO of Reevo, discusses his mission to consolidate fragmented go-to-market tools into a cohesive AI-native revenue operating system. Vinod Khosla, co-founder of Khosla Ventures, shares insights into why he invested in Zhu, emphasizing the importance of backing proven founders. They dive into how Reevo plans to utilize its recent $80 million funding to enhance its product and global talent strategy, while tackling the challenges of outdated tech stacks and the evolution of user experience with AI.