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Meghan, Duchess of Sussex, on Artificial Intelligence
Bloomberg Originals· 2025-08-27 13:40
You've been doing some angel investing. Yes. I saw that you called it dolphin tank as opposed to Shark Tank.>> Well, I love Shark Tank, by the way. Don't get me wrong. I love watching that show.I just wanted to approach it with friendly water. >> Yeah. What's the bigger strategy.Like, are you looking at AI or biotech or ecommerce or AI. Man, I aren't you a little bit scared for by AI. Just a little.I mean, we have to make peace with it. The the world is changing. Our lives are changing.So there are certain ...
Meghan, Duchess of Sussex, Discusses Authenticity
Bloomberg Originals· 2025-08-26 15:58
Is there an inherent tension in trying to be relatable while also being a duchess. No, I don't find I'm just being myself. So, I think probably it was different several years ago where I couldn't be as vocal and I had to wear nude panty hoes all the time.Let's be honest, that was not very myself. I hadn't seen pantyho since movies in the 80s when they came in the little egg. That felt a little bit inauthentic.But that's a silly example. But it is an example of when you're able to dress the way you want to d ...
How China’s Xiaomi Beat Apple and Is Taking on Tesla
Bloomberg Originals· 2025-08-22 08:00
Company Overview & Strategy - Xiaomi cultivates a strong following among younger consumers in China, positioning itself as an alternative to Apple, Tesla, and Google [1] - The company aims to seamlessly integrate its products into various aspects of users' lives, with the EV project designed to complete its ecosystem [5][6] - Xiaomi entered the EV market partly due to concerns about US sanctions impacting its smartphone business [7] EV Market Entry & Development - Xiaomi's first EV, the SU7, is priced starting at just over $30,000, while the YU7 is around $35,000, making them competitive with Tesla's Model 3 and Model Y in China [14][15] - The company invested over $1.6 billion into more than 100 companies in the EV supply chain and constructed its own factory in Beijing [10] - Xiaomi achieved rapid scaling, producing its first 100,000 EV units in 230 days [14] Market Competition & Future Outlook - The Chinese EV market is highly competitive, with approximately 140 EV manufacturers [2][17] - In 2024, approximately 64% of all passenger EV sales were in China [16] - Xiaomi aims to become one of the world's top five car makers within the next 15 to 20 years, requiring expansion beyond China [17] - The company faces geopolitical uncertainties and trade barriers, including a 100% tariff on Chinese EVs in the US [18]
Why Swatch May Be Running Out of Time
Bloomberg Originals· 2025-08-15 08:00
Company Overview & Market Position - Swatch Group is a major force in watchmaking, valued at over $9 billion [1] - The company is the largest watch manufacturer by volume globally, and third by retail value behind Rolex and Richemont [4] - The group's portfolio includes brands ranging from inexpensive Swatch to high-end Breguet and Blancpain [5][6] Challenges & Financial Performance - Swatch Group's performance has been under pressure, leading to it becoming one of the most shorted stocks in Europe [2] - Profit was down almost 90% in the first half of 2025 [13] - A softened market in China, which accounted for 27% of the group's sales in 2024, has significantly impacted the company [14] - The US imposed a 39% tariff on imports from Switzerland, creating a major external headwind [3][16] Strategic & Governance Issues - The family and related parties control 44% of the voting rights, leading to a sometimes tempestuous relationship with shareholders [17] - The company is conservatively structured, and some investors are pushing for changes [19] - Swatch has been criticized for not engaging with investors in the same way as other groups [18] Product & Marketing - The MoonSwatch collaboration in 2022 was a major success, selling over 1 million units, significantly boosting the bottom line [21] - Swatch has been criticized for falling out of the conversation in terms of exciting new products and relevant marketing [22]
A Last Ride in New York's Disappearing Horse Elevators
Bloomberg Originals· 2025-08-11 08:00
Historical Context & Significance - The building housing the elevator was originally a stable, converted due to high real estate costs over 100 years ago [1][2] - The area was the epicenter of New York City from the end of the Civil War to 1900, with stables being central to the culture [2][3] - The elevator was installed in a five-story brick stable built around 1888, owned by someone connected to the Fifth Avenue Hotel [4] - Elevators revolutionized building design, making higher rooms more desirable [5] Regulatory & Technological Obsolescence - The existing elevator is grandfathered in, but new safety laws will outlaw it by 2025, necessitating replacement [6] - The old elevator technology struggles to meet modern codes and brake testing standards [12] Project Execution & Challenges - The elevator removal project presents unique challenges due to its age and design for hauling horses [9][25] - The team takes pride in possessing the skills and knowledge to work on such a rare and complex system [27] - The motor shorted out during the removal process, complicating the job [13][17] - The elevator's last ride was when it came up, and it is now being manually run by a hoist [29][30]
How Samsung Missed the AI Moment
Bloomberg Originals· 2025-08-08 08:01
Semiconductor Industry Dynamics - Samsung faces increasing competition and is struggling to keep pace with the latest technology, particularly in the high-bandwidth memory (HBM) sector [10] - SK Hynix has emerged as a major rival, securing contracts with Nvidia and achieving record profits due to its dominance in HBM [14][15] - Samsung was overtaken by SK Hynix in the DRAM market, ending its three-decade lead [16] - TSMC dominates the foundry market, putting intense pressure on Samsung's foundry business, with TSMC controlling approximately two-thirds (66%) of the global market while Samsung holds about 8% market share [22] Financial Performance & Market Position - Samsung's chip profits have tumbled, with the semiconductor division reporting an operating profit of 400 billion won, missing analyst projections of 273 trillion won (2730 billion won) [2] - Samsung shares have decreased in value since their 2020 peak and tanked in 2024, while SK Hynix's shares have surged [3] - SK Hynix provides approximately 20% of Nvidia's cost of goods sold, while Samsung accounts for about 1% [16] Strategic Challenges & Opportunities - Samsung needs to win over Nvidia to become a contractor, as its chips have not passed Nvidia's required tests [19] - Samsung is making an all-out push into next-generation HBM4 to close the gap with SK Hynix [21] - Samsung has reached a $165 billion (16500 million) pact with Tesla to produce its next-generation AI semiconductor [23] South Korean Economy Impact - Samsung is the biggest company in South Korea, contributing significantly to the economy, accounting for about one-fifth (20%) of the country's exports [6] - The company's struggles threaten its national identity, as the South Korean population relies heavily on it [3]
The Mysterious Rise of China’s Desert AI Hubs
Bloomberg Originals· 2025-08-01 08:00
Here in this remote northwestern corner of China, is a town at the center of the country's AI ambitions. We are going to go there to see how the construction going and basically get a better understanding of how these data centers fit in with the overall strategy, for China to build its AI capabilities The Xinjiang region is sensitive. China has been accused of human rights abuses against its ethnic Uyghur population.Foreign journalists who go here are monitored. It seems to be a white car following us. I'm ...
The Shadowy Cambodia-Based Service That Profits From Scams
Bloomberg Originals· 2025-08-01 06:00
Overview of Huione Group's Operations - Huione Group is identified as a key gateway to global crime, facilitating scam compounds where trafficked people are forced to scam others [1][2] - The US Treasury Department classifies Huione as engaged in money laundering, describing it as the "Amazon for criminals" [3] - Huione operates through various arms, including Huione Pay (payment services) and Huione Guarantee (online marketplace for illicit items) [5][9] Illicit Activities and Modus Operandi - Huione Pay is alleged to be involved in money laundering through a cell called Huione International Pay, facilitating scams like fake romance schemes [7][8] - Huione Guarantee hosts an online marketplace on Telegram where buyers and sellers can purchase illegal items needed for online scams, including stolen data and money laundering services [9] - The platform facilitates efficient scam operations, offering everything needed to target and extract money from victims worldwide [10] Scale and Impact - Huione Guarantee's transaction volume ($28 billion) dwarfs that of previous darknet markets like Silk Road and AlphaBay (totaling $11 billion) [11] - Elliptic's research indicates that Huione Group entities received over $91 billion in crypto assets in the last five years [28] - The cybercrime industry in Southeast Asia, often underwritten by Chinese mafia members, is a multibillion-dollar industry, with Cambodia being a major driver [21] Regulatory and Investigative Actions - The US Treasury Department has blacklisted Huione from US markets for engaging in money laundering [30] - Telegram has taken action to shut down most of the channels used by Huione Guarantee [29] - Huione Crypto appears to have rebranded itself as Kex, but transaction volumes remain high [32] Connections and Complications - Huione has directors who also work for other powerful conglomerates and banks in Cambodia, including Hun To, a cousin of Cambodia's Prime Minister [27] - Huione has developed its own stablecoin (USDH) to evade attempts to freeze wallets [31] - Proving Huione facilitates illegal activity is challenging due to its lack of transparency and complex financial structure [12][13]
Tom Brady's Next Act Is a Mystery
Bloomberg Originals· 2025-07-29 19:29
What is this place. We're just here. You know, we This is where our office is. This is your office. Oh, your your joint office.It's his office, but I use it sometimes. Just like it's a little barren. So, buddy, don't worry.How's it going. Do you own a colored shirt. I do own a colored shirt.All right, guys. Thanks so much. Hi, Emily.Nice to see you, too. Thanks for having us. Nice to meet you. Nice to meet you.You guys want to tell them what happened when Joe Keem paid me one-on-one today. Joe Keem know and ...
How Trump Took on the World's Richest College
Bloomberg Originals· 2025-07-25 08:01
Divisions in American politics are often played out on college campuses. Free, >> but actions by the Trump administration against some of America's top universities are unprecedented. >> I think Harvard's a disgrace.>> Trump likes big shiny objects that have lots of prestige and lots of name recognition. So, it's not surprising that he's going after Harvard. As the oldest university in America, the Harvard Corporation predates the founding of the United States.It's sort of considered the pinnacle of of ever ...