Transcripts For BLOOMBERG Bloomberg Technology 20240713 : vi

BLOOMBERG Bloomberg Technology July 13, 2024

Makes their company ceo. Their company so unit. So unique. Silicon valley is listening to your most intimate moments. It is the focus of bloomberg businessweeks indepth piece on how the Smart Speaker praise users vulnerable to the conversations being transcribed. Here with the story including the devices and use of contractors to transcribe those attimate conversations is m in seattle, sarah from San Francisco, and austin from new york. Let me start with you come austin. The management with you, austin. We spoke to dozens of transcribers and contractors in the stories. Everywhere from ireland to india. They really had ethical quandaries with the service, they were eavesdropping on a lot customers toexa improve speech recognition capabilities. Is really fascinating thing the profound disparity you mentioned. A lot of the contractors felt this was ethically dubious. The Silicon Valley folks that we talked to really did not think this was such an issue at all despite years of privacy issues. It is essentially a way of improving Quality Assurance. Oneecutive at apple executive at apple described this as a way of fixing voice books. The bigger question is whether consumersed this to that they may be relisting listening to recordings at some point. We have seen a lot more of a Companies Issuing new disclosures Company Disclaimers come of a particularly when it comes to Companies Like facebook or apple, apple in particular says they have privacy at the center of their core value, but this would seem to be an indication that they have not woken up to the fact that users expect more privacy consideration and more data privacy when it comes to interacting with these devices. Taylor lets bring in now matt to explain some of the security concerns. Privacytion about without really getting at. Your take . They realized putting a microphone in peoples homes was going to be a controversial thing. They were not so upfront with the fact that they were sort of using user data in a massive rnd lab to improve the service and get new ideas, and for new features and to correct errors in the system. Taylor now i want to get to facebooks latest. Sarah, what is interesting here is facebook is in your entrance into the market. Why would they get into the market now . Even after all of the controversy, facebook still felt like it was important to do the same with their data, theyre listening data to try and improve it. They really didnt think of it as very different from all the other things they collect from their users. As you scroll facebook, as you surface, direct on the facebook thinks you understand they are going to look through everything you say and do and it use it to make their system smarter. The thing is, there is a difference between a machine doing that and human beings doing that. Especially with audio data. There is something so intimate about the way that this works behind the scenes. And if it was so natural and obvious to the companies, why did they feel it was not necessary to disclose it to consumers . Of course consumers are alarmed. Taylor given Everything Else that is going on with the lack of trust and facebook, any sense that customers are trusting facebook with this device . They are purchasing it. There is a lot of compromise people make for their own convenience and entertainment, but i think a lot of people are about the network of contractors that are listening as matt audios to do explains, Quality Assurance testing and trying to improve the way that speech recognition works. Facebook looks at this as an accessibility issue. They are trying to make sure all different types of human voices can be recognized by their computer. The fact that they need humans to do this because the machines are not ready yet, well, that certainly was not part of the marketing. Garrett, google continues to use humans instead of real employees. Does that help give them cover for all of this . Yeah, google is also using contractors. That is the point my colleagues just raised. For me, when i first started the stories and ridding the reporting of my colleagues, this was mostly being done by contractors, not contractors. People were employed by a completely different countries, sometimes in countries very far away from the headquarters, that these companies are based in where they make their big decisions. With google, that really sort of hit home earlier this summer when one contractor in the netherlands walked out of one of his offices, taking with him a bunch of voice recordings, gave those over to some journalists, were able to listen to them and they correct with the actual humans were whose voices were being reported. Recorded. Of a scandal, bit and google has said that they have actually paused human transcription of google assistance audio. Of course, they need to prescribe transcribe these transgressions with humans to continue to improve the service and make sure it can understand people with different light which is, accents, speech impediments around the world. Its to keep up with the competitors. Taylor the us or to get a sense they would use more technology other than human review to give us comfort that not actual humans could be listening and . Think all these companies would like that, but it is still not quite good enough. You still need humans to double check that these things are learning, they are improving. For the time being, we are going to need humans the same way with tesla cars, there are going to be accidents, we need human drivers in some of those self driving cars until we get to that point sometime in the future, not sure when, that the machine can fully take over on its own. Matt, sarah,n, garrett, thank you for joining us. Now, the billiondollar merger deal currently being challenged by 13 states and the district of columbia in a new york city courtroom. An executive says the Wireless Phone provider will not survive much longer without the tmobile takeover because it lacks the resources to upgrade its network and has generally weak business prospects. President of Vice Development and engineering testified that sprint would not be viable within the next two years. The testimony rebukes claims that sprint has a viable plan b. Several states are stilling due to anti suing due to antitrust concerns. It is expected to last about three weeks. Coming up, we go through a list of best places to work. Spotne spot earned the top , while players like facebook and google live from the top 10. If you like bloomberg news, check us out on the radio, you can listen on the Bloomberg App , bloomberg. Com, or in the u. S. On sirius xm. This is bloomberg. Taylor apple is offering a number of eye watering pricing options with their new desktop desktop mac pro computer, just under 6,000. It will set you back about 52,000. It doesnt include the 400 wheels for easily moving around the office. Big Tech Companies used to be mostas some of the worlds desirable workplaces, but appear to be losing some of their luster. Facebook and google have dropped out of the top 10 best places to work in the u. S. According to glassdoors annual rankings. Years top top 4 four to discuss this years top four, we are joined by our guest, andrew. Big tech is continuing to drop out. Why, what is going on . Even being on the list anywhere even if you drop is still a great place to work. The big story with tech is these Big Companies have they Company Problems today. Thepolitical scrutiny, Cambridge Analytica scandal, it is changing what it is like to to work. We are that another big Tech Companies. There are now 10,000 plus employees. That is starting to weigh down on culture. Taylor facebook in particular caught our eye because we talk about the company so much on this program, dropping 16 just two years ago they were number one, is it really becoming a big company . It has partly changed because of the political nature of some of the controversies. Really doesnt hold up in an era where your product the straps the u. S. Election disrupts the u. S. Election. The other thing to know about facebook is that we look at all the different kinds of ratings, pay, andlife balance, one that has slipped his Senior Leadership. Some view facebook with problems. Taylor taking a positive spin on all of this and big tex taking big tech still taking why is big tex such a big portion . Big tex such a big portion . Big tech such a big portion . They have been in this intense competition for talent. Tech invented the Great Workplace experience out of necessity. Today, it is being copied by people more and more because they know that it works. The common theme is simple. Opportunities where people feel like they can row am i having Senior Leaders that people believe in, and it is having a Clear Mission and a job,so it is not just that it has some social impact as well as businesses. Taylor i want to take some of what you said and look at the key themes in the top 10. In an out burger versus hub spot, what collectively made of the top 10 . The top 10 is a really diverse group. ,e had a government employer you have ultimate software, and hr tech club company, and an out burger, financial, and others. What binds them together . A lot of people are surprised to see in and out. Work ine best places to the perspective of employees themselves. Benefit,t has great Career Opportunities for their people, and Senior Leaders will have a commitment to always serving fresh and never frozen food. They are like a family. Those of the things that unite all these companies, not pay, not an industry, some of our winners are located in utah, iowa, not all are in San Francisco and new york. Taylor the number one hub spot is located in massachusetts. How much is cost of living coming into this . This is definitely a factor. We see more tech bunnies locating outside the superexpensive Silicon Valley area. Boston is quite expensive. They have their own version of Silicon Valley there. The secret is they are drawing on talent from the big universities, what they benefit from. Taylor i want to end on one other company to help us lead into a transition to our next interview, which number three, doc you sign. Focusign. Docusign. People and reviews for them say that the culture comes from the top. And leadership driven. As i can to you from my research, culture never comes from the bottomup, it always comes from the top down. That is one of the main reasons why it ended up as number three. Taylor we are all going to go back to in and out to get some of those free burgers. That was andrew chamberlain, glassdoor chief economist, thank you for joining us. Coming up, we continue our conversation on glassdoors shop employers Top Employers of 2019. Thats next. Bloomberg technology is livestreaming on twitter. Be sure to follow our global breaking news network at quick take on twitter. This is bloomberg. Uber and the l lyft are well positioned to make a profit. They decided that the pair could charge more to make an operating profit with only a modest impact on ride volume. Lyft shares have failed, over is down nearly 39 . We just spoke about glassdoors annual list of the best places to work. While we saw a big tech names like google and facebook drop out of the top 10, we saw others rest to the top, doc you docusign landing the number three spot. What makes your company stand out, why would i want to come and work for you . Our employees have spoken that there are couple of things, we create an exciting vision. We go beyond the signature piece that most people know was four and have a broader platform to build to be part of the next big thing. That is one. Number two, the impact investment. Giving people a reason to be proud to be working at the company. We really try to be a positive role player and what is going on with global warming. The third piece is, because people love our product, employees feel really good about working at docusign because we hear Great Stories from customers all the time. Taylor we just heard from Angel Chamberlain andrew timberlane that culture starts from the top. How do you set the tone you are setting . To a company that has a great culture with a great leader, but in terms of the small part, to improve the culture, i think it is about inclusiveness in the setting. We do a lot of a lot to really understand what employees one to make it the best place they ever worked at. And then try to deliver on those components. Taylor i want to talk about the fundamentals of your company, mainly he went public in april of 2018. I hear a lot of ceos come out and say they should not have gone public when they did, because the environment today is so difficult trying to become a public company. You are happy you went public when you did. Somewhat of aave contrary view. I think companies should go public when they are ready and not time to the market because you want to make sure you have the right maturity and controls in place. That some ofnate the challenges today, we didnt have to have a lot of thought to, the we want a traditional ipo, which is on the minds of all the folks, but i do think it time, and we got the choppiness of the last year behind us now and be able to grow very well. Sign is notu profitable just yet. You have pressure to be equitable . Because of the stock charges, net income, i do think we get investors now telling us that growth is the number one imperative. We are focused on doing that. We are trying to build the agreement club, we will focus on growth. Investors are saying they want responsible growth and that path to profitability. With the margin, we will be a highgrowth, but also a profitable organization. Taylor i also want to look at the rest of your stock price. Prices when of about 150 or so since the ipo. I wonder if you can live up to ,ll the heightened expectations like Revenue Growth, like billings growth, how do you live up to that . Will tell you do your point, if you think about the universe, we are in an alltime high for multiples in the space. I think they are warranted, anduse of the high growth the components we talked about showing the profitability, people see something we really have not enough the Tech Industry for a long time. Highgrowth and a path to profitability. I think they are warranted, but they are heavy valuation, but we are confident with the power we have at docusign to deliver on those expectations. Taylor im going to give you two options, going into 2021, would you prefer to up sell to existing clients or target new clients as you look at the Revenue Growth . Of course i want both, but to answer your question, we are a customer oriented company. It is important we bring you people most focused on driving success. The upsell you are describing, that happens, because we are driving success. Thead 117 last quarter of net revenue retention, which means the business with existing customers is growing 17 without bringing new customers on. I think that is a powerful driver for us. I would take the Customer Success german growth. Taylor you talked in the beginning and the interview about agreements you have come to with other companies. What more can we see from you in terms of engagements with other companies and securing more future agreements . Theave always been partnership company. It was interesting, before we went public, people think it was so unusual that competitive Companies Like microsoft and google were all partners of ours. They are all investors in our company. But we continue to focus on partnership. Taylor finally, there have been rumors docusign could be the next acquisition target for a company like salesforce, are you open to be acquired . When you give up your company is sort of give up your right to set your destiny, but i can to you this, we do get calls, we dont comment on any rumors, of course, but i would love to continue to run this independent company. Im having the time of my life. As long as they will let me, i will continue to run it independently. Taylor i am going to let you get away with that answer for now. That was the docusign ceo, dan springer. Coming up, cisco takes the chipmaker leader. The new data center ch chipmaker dent in areas like broadcom . This is bloomberg. Technology global link, where daybreak australia to bring you the top global tech stories of the day. To buy azons bid majority stake in deliver roof deliveroo may get an extended look from regulators. The reasoning being that the purchase could hurt competition by discouraging the American Company from reentering the british food Delivery Market on its own. Amazon has five days to offer remedies to the agency. The Chinese Company that owns is hoping forok another viral success. About been installed by 27,000 users and what the Company Hopes will eventually rival spotify and apple music in countries where paid Music Services have yet to garner large audiences. With oring working join softbank in april 2017 and will be replaced by the senior managing partner at softbank. Those are the top global tech stories we are watching. Taylor thanks, paul. Networking giant cisco has to majorupplying tips operating centers. Its already being used by the likes of microsoft and facebook. Cisco claims its tip is the fastest in the industry and is offering it to all customers, if they use its network machines or not. Joining us to discuss it is ian king, who covers the chip sector. Is this a new avenue for business for cisco . Ian it is a big move. They are basically adjusting to the world in which networking at semiconductors have moved. Once upon a time, if you wanted to build the best, fastest computer network, it was difficult, so you went and bought a box from cisco. Then al

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