SpaceX's Tender Offer and AI in Hollywood | Bloomberg Technology

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• SpaceX is considering a tender offer that would value the company at $200 billion, allowing employees and early investors to sell shares at a premium.
• SpaceX's dominance in the launch market and its collaboration with NASA have made it an attractive investment opportunity.
• The tender offer is not intended to raise capital but to provide liquidity for employees and early investors.
• Starship test number four is scheduled for June 5th, with the goal of developing a reusable spacecraft for missions to Mars.
• X AI, an artificial intelligence company, is set to complete a funding round valuing the company at over $24 billion.
• SpaceX is close to reaching its $6.5 billion fundraising goal, with the latest influx of cash bringing the total amount raised to several billion.

Cameron Adams, Canva Co-Founder (8m55s)

• Canva introduced a significant redesign, enhancing its user interface and launching Canva Enterprise for large organizations.
• SpaceX's Starship test is scheduled for June 5th, having achieved orbital velocity during the March test.
• TikTok lowered its affiliate program threshold from 5,000 to 1,000 followers, enabling more content creators to monetize their content.
• OpenAI released past employees from a non-disparagement clause tied to equity awards, addressing concerns raised by workers.
• AI video models are gaining traction in Hollywood, leading to discussions between large language models and film and television studios.
• Intuit's shares dropped due to the loss of one million free TurboTax customers, facing challenges from free alternatives and the convenience of human tax preparers.
• Canva expressed disinterest in being acquired, limiting potential buyers to a small group of companies like Microsoft or Adobe.
• Alibaba sold a record $4.5 billion of convertible bonds, drawing attention to the financial status of the company and its subsidiaries.
• The Nasdaq 100 reached a record high, driven by Nvidia's strong earnings, and is on track for its fifth straight week of gains.
• Crypto markets experienced volatility, with Bitcoin trading over $68,000 after the approval of spot Ether ETFs and significant inflows into the ETFs.
• Ethereum outperformed Bitcoin in terms of percentage increase this year, benefiting from its wider range of use cases and being more native to the cryptocurrency ecosystem.
• Coinbase surged following the launch of cryptocurrency ETFs, capitalizing on increased activity in cryptocurrency trading markets and favorable comparisons to other ETFs.

Kavita Gupta, Delta Blockchain Fund CEO (27m15s)

• Ethereum (ETH) is often referred to as "digital oil" due to its role as the underlying technology for various products and services, similar to how oil powers traditional industries.
• The recent price surge in ETH may be attributed to the anticipation of a spot Bitcoin ETF approval, leading to increased interest in cryptocurrencies.
• Unlike Bitcoin, ETH has not yet reached its all-time high price, and its growth may be influenced by factors such as liquidity crunch in traditional markets and global circumstances.
• Ethereum's widespread commercial use is driven by its reliability, security, and large global community.
• The decentralized nature of Ethereum and its proven track record make it an ideal platform for building and developing various applications and services.

Ritu Narayan, Zum CEO and Founder (32m30s)

• Zum, a Silicon Valley startup, will provide Oakland School District with 74 electric buses, making it the first major U.S. school district with an all-electric bus fleet.
• The electric buses will also supply 2.1 gigawatt hours of electricity back to the grid when not in use, enough to power 300-400 homes.
• Zum operates in 14 states and serves over 4,000 school districts nationwide, and plans to expand nationally.
• Electric school buses are still two to three times more expensive than diesel buses, but Zum has been able to reduce costs through federal and state grants.
• Electric school buses have large batteries that can store significant amounts of energy, making them a potential resource for grid balancing and energy storage.
• India's largest drug companies are eyeing the U.S. markets.
• Ankit Mehta, the cofounder and CEO of IdeaForge Technology, has been assembling drones for two decades.

Michael Wolf, ResortPass CEO (40m20s)

• ResortPass is a digital marketplace that allows users to book daycations at luxury hotels and resorts without overnight stays.
• The company has partnered with major hotel chains like Hilton, Ritz-Carlton, Marriott, and Hyatt, sending over 3 million people to hotels.
• ResortPass uses its technology for check-ins, inventory management, pricing, and competitive data analysis.
• Daycations are particularly popular during holiday weekends, helping hotels generate revenue by monetizing amenities to local guests.
• This was the final episode of "Bloomberg Technology" for the week, with NVIDIA being the main focus of discussions.
• The podcast is available on Apple, Spotify, iHeart, and all Bloomberg platforms.