We have you covered. Ed starship goes further and faster, spacex loses the vessel during reentry. An unprecedented technology breakthrough. Caroline we get to check in on the tech earnings and sit down with the ceo and push ahead to results up with the belt. Lets check in on how these markets are performing. We are flat on the nasdaq and the benchmarks more broadly. This is a day when we focus in on economic data. Keep an eye on 10year gilts come at one point pushing up 10 basis points. 4. 28 . Why are costs rising . Some of that data showed hot inflationary pressures. Also a lackluster economy more broadly looking at retail sales. All of this darling back expectations for a bit cut to becoming as soon as june or july. We keep an eye on what is happening in europe and we have dovish sentiment from members of the ecb. The u. S. Dollar is rising above all of the g10 Currency Pairs with the euro is lower because of the dovish tongue. Have a look at what is happening with bitcoin, we pair some of those gains come up by 2 . 71,670. We have had some Research Notes out following bitcoin. Some bullish content. We are entering a whole new bull cycle for bitcoin is what one analyst wrote. Ed i am looking at social media stocks in the context of tiktok. Tiktok is owned by bytedance, the most valuable private company. The discussion is turning, will tiktok be banned in the u. S. . Who is that good for . Analysts point to meta because of how analysis analogous instagram is to tiktok. Who might buy tiktoks u. S. Operations if they are forced to divest . Rumble is one of the names to the downside, this more conservative social platform. As you know, it has been soaring in recent days after his ceo said we could talk with tiktok about a cloud partnership, looking at tiktoks operations. There is no catalyst today but it is interesting to look at different moves and some of the names that saw significant gains in recent days have pulled back about a bit. We still have a lot to work out when it comes to tiktok. Caroline we have a lot to the sect in terms of the reactions coming from the business and keep the mats fresh and diplomats and diplomats. A top diplomat in china on the potential been. Listen to the comments coming from the u. S. Ambassador to china. We have heard a number of complaints from the government in beijing this week about the american debate on tiktok. I find a super many ironic supremely ironic. Government officials are using the x platform to criticize the u. S. They dont give their assistance director use x, instagram, facebook, or have access to google. It is ironic that the government is complaining about a process when they shut down access to all these platforms. Caroline we have to get up to speed with what is happening in the u. S. Weekly question now is actually key question now the key question now is does starting numbers in the house carry over to what we might see in be senate see in the senate . Ed that is the question daniel that is the question. You have a variety of opinions, their hundreds of senators and each will have their opinion. Mike gallagher said yesterday as Mike Gallagher said yesterday. There are a couple of paths, one that could go quickly and others that could take longer. It is looking they will take the longer deliberative path. It is the question of do the interests stay there, where are we two or three weeks from now . Is this still top of mind for people . Still a lot of tape to play out. Ed is there a clear partyline on this bill . Republican attitude toward it and a democrat attitude toward it that we can carry through to the senate . Or has there been basically a bipartisan support bipartisan approach to this. Daniel there is no real clear partyline. It is similar to the National Defense authorization act, the bill that passes almost every year without fail where you have these more moderate democrats, a lot of the hawkish republicans, the majority of both chambers when you get down to it supporting it. Passing those types of bills. You have the progressives and libertarians which are against it. If you look at the house vote, 35265 tells you where you are in the house. In the senate, i have heard numbers as much as 70 of his supporters of the senator supporting this. Caroline we are seeing a pushback more broadly of the u. S. Government having Foreign Ownership of Key Companies or access to its own population. We have to see what is happening with u. S. Steel. With your expertise when it comes to National Security, will this be the focus . That there is a National Security concern or are they going to go more toward who does this also may make more powerful , u. S. Technology companies . Daniel you should on the your concern about that long antitrust grounds. Would it be meta, would you be someone else . Would there be challenges to that . You also hear challenges about is this the right thing to do, does this with the moment, does it address the National Security concerns while preserving the ability of folks to exercise their First Amendment rights and their right to free speech . The bills authors say this is to force bytedance to the best tiktok but when you talk about a six month timeline, that is where you get some people that are nervous that may not be enough time to put together a sale and that would in the end lead to a ban. That remains to be seen. Ed it has been a busy 24 hours for you. Thank you. Lets keep going with the tiktok story and talk about the applications of what is a divest or ban bill. Lets bring in an academic setting the intersection of technology and policy, jennifer huddleston. Simple question, with the u. S. A Large TechnologyCompany Based in this country by tiktoks u. S. Operations if they choose to divest . Jennifer it is an interesting question. This is coming up at a time when Technology Acquisitions have been under increasing scrutiny. When we look at popular apps like facebook, some have asked questions about concentration. Here you have what has become an immensely popular app providing another option for shortterm video that users have chosen because they collected is the right platform for their courses. If we get to where it is sell or ban, you have the question of would Companies Face antitrust scrutiny from the federal trade commission around potential acquisition of tiktok or in the alternative if it were to get to a ban point, what does that do for the overall social media market. Ed fcc commissioner carr joined Bloomberg Television and he gave his opinion it does not have to be a u. S. Company that buys tiktok u. S. Operations. It can be another country as long as it is not china. Is that a feasible thing to your mind . Jennifer there are specific requirements around feed investment that they have to assuage concerns about certain foreign adversaries being linked to the company in question. That would depend on how the administration look at Something Like that or whether or not they thought that was necessary or that sufficiently met the concerns as well as the question of when we look at considering another Technology Company that might have the expertise to continue the popular tiktok product as it is, are there really companies in areas like europe that have that expertise . Caroline i am good to go really basic. Is it a good idea to separate it from chinas ownership from your perspective . Jennifer there have been questions raised about National Security concerns and questions around National Security that have been brought up. Some are contrite about the potential access to data. There may be one set of restrictions that could resolve that as well as concerns about if the data practices change, do you still have problems with the ability to buy that same data on americans from data brokers. The other question is the algorithm and that starts to get into questions of speech not only from the point of view of what this could mean for the u. S. Government getting into the speech of social media platforms more generally, but what does this mean for the broader speech context when it comes to traditions around the First Amendment and americans ability to access speech. Caroline this has been done in india. Before it was nearly as successful as tiktok in the u. S. How technically do we do this . Jennifer i think that is a really important question because it goes to who does the owners for enforcing this ban and ensuring compliance actually fall on. It focuses on distribution, maintenance, and updating of covered apps or websites. What that may mean is it falls to places like app stores to ensure these products are removed. Many of those companies are American Companies so we have questions of what impact with such a peach of legislation have on americans and American Companies . Caroline it almost feels like there are more questions than answers. Cato Institute Policy fellow, jennifer huddleston. Spacexs shuttle watches to near orbit in space. You are fresh on the back of reporting on that. What else are you looking at . Ed adobe, the stock is up. 2 on track for their Third Straight quarter of doubledigit sales growth. The story is about firefly ai. You look at the start of looking at a text to image platform, has adobe got some response to that . The world of ai. This is Bloomberg Technology. 4, 3, 2, 1. Ed there it is, spacex launching its colossal starship rocket and system in its third major test flight. The spacecraft lifted up in texas. Simply put, this story is starship went further and faster and pushed the boundaries of space launch systems and technology. It was lost later while returning to earth. Lets go out to texas to bloombergs space correspondent, lauren. Explain what happened with starship. Lauren they got even farther than they had before, it is clear that spacex is making progress when it comes to the development of starship. This lasted an hour which with the planned flight time. The flight lasted a few minutes before the vehicle exploded. No explosions and they achieved a number of deeds feats that had four, which space, nearly lap the earth. The vehicle did seem to burn up or be lost during reentry in earths atmosphere but they got even farther than they got even farther than ever planned or expected before. Caroline ed lets show images of the reentry. Spacex was able to maintain the camera images you are seeing now because it had starlink on board. As it went from an altitude of one hundred commenters downwards, it was bouncing the signal officer many satellites to maintain that high fidelity connection. This is the question i want to put to you to quote one of the preeminent space months, buzz light near buzz let you buzz lightyear, is that flying or falling with style . Loren it was never intended to reach a full orbit, it was always going to be suborbital. Gravity was always good to bring it down at some point. What theyre hoping to see is if they could bring it back to earth intact. There were hoping it could stay in one piece and splashdown in the indian ocean. It looks like that did not happen. They lost signal from all of their different inputs at the same time indicates it was probably destroyed in some way. It was falling with style but that was always the plan. But it did fly before that happened. Caroline ed ludlow and his six espresso shots to the rescue. Ultimately, we are protected going to mars. We have a nasa contract to go to the moon. Where does this put spacex . Loren with each of these lights they learn more than last time. They are incrementally farther along than they were before. Reaching near orbit was a huge achievement. They need to do that if they want to launch sublets from the vehicle but there is still a longer list of things they need to achieve in order for this vehicle to be a deep space vehicle. They need to demonstrate transferring repellents between the tanks and the vehicle. They did have that demonstration on this flight, they wanted to see if they could transfer those repellents while in space. Were not sure how that went but they seem to have conducted the experiment so we will be eager to hear about how that went. They were also to come up with lifesupport systems, dem trade it can land on other worlds like the moon. There is a long way to go but this gives confidence they are moving in the right direction. Caroline a busy morning, we appreciated. Coming up, we are going to be sitting up with eli about earning results when it comes to the adoption of ai and with a had hoped it would go. This is Bloomberg Technology. I can make this work. It can help you reach them with confidence. No wonder more than 9 out of 10 of our clients are likely to recommend us. Ameriprise financial. Advice worth talking about. Starting a business is never easy, but starting it eight months pregnant. Thats a different story. I couldnt slow down. We were starting a business from the ground up. People were showing up left and right. And so did our Business Needs the chase ink card made it easy. When you go for Something Big like this, your kids see that. And they believe they can do the same. Earn unlimited 1. 5 cash back on every purchase with the chase ink business unlimited card. Make more of whats yours. Hey you, with the small business. Whoa. Youve got all kinds of bright ideas, that your customers need to know about. Constant contact makes it easy. 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Amazon has pledged to make fixes to its advertising after charging merchants the problem came to let when he was being charged thousands of dollars to advertise merchandise in california even though he stopped selling those products. After bloomberg described the Business Owners expense, the company acknowledged he paid for misdirected advertisements and it was working to fix the problem. Caroline lets go to okay name. Uipath are trading lower after First Quarter revenue outlook seemed to come short of some expectations on the street. The Company Reported fourthquarter results that beat those expectations. It has received several upgrades on the back of the result. Lets dig in to where we are likely to see some transparency with none other than the cio, she moved up ashim gupta. Ashim thank you having me. Caroline jp morgan is saying maybe there is some macro pressures here that needs to be reworked, repositioning. When can we get clarity on how the macro pressure is going . Ashim we have talked about the macro environment being relatively stable in that it continues to be variable. We have different pockets that have strength. Our Enterprise Business is strong. If you look at customers growing greater than 1 million, they are up 31 in the Fourth Quarter and we look at that as a sign of strength. The lower end of the market is where we see volatility. We look at a positive environment for ai and automation and the transfer motive effects of the platform. That is why we raised estimates for the total year close to 30 million. Caroline lets talk about that this is the right investment at the right time despite microprocessors. Jp morgan seeing meaningful acceleration. Im sure it is because of the ai promise. What are you doing differently in your Automation Software . Ashim we have had several great product releases out there. If you look at the ai trends, we have been investing for the last five years. Things like autopilot which enables natural language to allow developers to create automations faster. That is being released and will go into production being priced in the summertime. When you look at intelligent document processing, this is processing and understanding the billions of documents that exist in governments and enterprises. That is meaningfully scaling now with our customers. When we look at those trends and look at the c level conversations we are having, they are no longer talking about Digital Transformation but ai transformation. They made ai platforms they need ai platforms and that this will become in. Ed the last 18 months has been about a romantic discussion around generative ai, a direct to consumer focus chatbots. A lot of people coming to the honest reflection that where ai is most present is in automation. You do largescale end to end. I wonder if you feel like you got left behind in all of the caht] the chat in ai and now the tools people are saying are quite useful. Ashim it is the opposite in my perspective. If you go to february last year, there are discussions that set is uipath really an ai company. Through last year, we had thousands of customers looking in understanding us. C level executives attending our ai summit. When you look at analysts notes, one says uipath is ai that works. The romantic notions of ai are great, we are excited about the macro trends. We are investing up just for the next year but what is possible over the next 10 years. It is practical today. Ai and the areas are platform can drive growth, that is already taking root. It is practical right now. Caroline certainly the benefit of cathie wood and others in the space. Ashim