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- [00:00]
Intuit Representative
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- [00:16]
Microsoft Representative
into it, little side note for the IT leaders listening in. I was reading up on a Microsoft Commission survey the other day and learned that teams using Windows 11 Pro PCs report 62% fewer security incidents compared to Windows 10 PCs, including three times fewer firmware attacks. Pretty significant. With security built in, you'll have AI ready it. That sets you up for operational efficiency as well as long term resilience. Upgrade to Windows 11 Pro@WindowsMeansBusiness.com if you
- [00:49]
Intuit Representative
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- [01:26]
Bloomberg Intelligence Host
Bloomberg Audio Studios podcasts Radio news. You're listening to the Bloomberg Intelligence Podcast. Catch us live weekdays at 10am Eastern on Apple CarPlay and Android Auto with the Bloomberg Business app. Listen on demand wherever you get your podcasts or watch us live on YouTube.
- [01:48]
Paul Sweeney
Well, I was going to call it a merger Monday, but it's Tuesday, so that doesn't work. But that doesn't stop the pharmaceutical companies from doing more deals. And as I said it before, I'll say it again in the next life. I'm coming back as a health care M and a banker because they get paid every single week, it seems like, and this week's no different. Madison Mueller joins us here, health care reporter for Bloomberg News. Eli Lilly agrees to buy three vaccine developers for as much as $3.8 billion. Madison, what's Eli looking to do here?
- [02:14]
Madison Mueller
Yeah, I mean, it's definitely an interesting time to be buying into the vaccine space given sort of the political climate that we have in the US where with Health Secretary Robert F. Kennedy Jr who has, you know, pulled funding from various vaccines, who and we've sort of lost seen a loss of public support for vaccines. But that has not stopped Lilly. I mean, Lilly has been on a tear recently with M and A. The company has a lot of cash on hand thanks to the popularity of its blockbuster obesity and diabetes medications. And what it's looking to do now is to build toward that Next era of growth. What happens after these medications that are fueling its growth right now lose patent protection, as they always do in the pharmaceutical industry. And so vaccines are going to be, at least it appears to be, part of Lilly's sort of next era. They hired former FDA official Peter Marks last year to lead their infectious disease unit. And then this is their first real foray into that space. So there are three different companies, as you saw that they are buying as of today to target various different global health crises, from antimicrobial resistance to Epstein Barr virus and others. So it will be pretty interesting to see what happens here.
- [03:26]
Alexis
Shingles as well. One of the shingles that might go up against, I guess the leader in that space is the. Is it called Shingrix? Shingrix, yeah, yeah, yeah, the Shingrix vaccine. So do we know more about this deal? I mean, I know the three companies that they're buying are privately held, but do we know anything else about these deals are. Because usually with these kinds of things there are milestones, as usual, I guess, I don't know, set sales goals or what have you.
- [03:50]
Madison Mueller
Yeah, yeah, exactly. And that is a part of this. There are going to be milestone payments. These various companies, I mean, based sort of all over the world. Couple in the U.S. outside of the U.S. i think one is based in Zurich. And so they, you know, Lilly has a track record of going earlier in the, you know, drug development process. They like to go for these earlier stage, cheaper deals versus later on sort of bigger mergers. And that's. This is the sort of the same pattern that we're seeing here. Um, a couple of them are in clinical development already. One of them is about to be ready for phase one trials. And so Lily will be able to really partner with them and take them through that process, which is something that's often hard and expensive for biotechs to do on their own.
- [04:36]
Paul Sweeney
So for these big pharma companies that are out there in the marketplace with these weight loss drugs, they're not standing still, are they? They're making them better, more powerful, less side effects. What's Lilly doing, for example?
- [04:45]
Madison Mueller
Lilly is basically doing everything. I mean, they have. Their strategy in obesity is to throw everything that they have at this. They don't want to be left out of it. They don't want what happened to Novo Nordisk to happen to them. I mean, Novo has sort of been caught flat footed just by how quickly this market has moved. And there are a lot of competitors and a lot of people, like you said, trying to develop Better weight loss drugs, whether that's, you know, pill forms or less side effects or taken monthly. Novo's sort of struggling to figure out its next move and fill its pipeline. Lilly has, you know, strategically made the decision years ago to, to throw everything that they had at obesity. And so they are looking at different types of molecules, something called Amylon, which is thought to maybe be a little bit gentler on the stomach, maybe not have the same GI effects that the current generation of weight loss drugs have. They're looking at less frequent dosing. They're looking, they just had a new pill approved. They are looking at drugs that are even more effective than the ones currently on the market. So it's pretty much like everything under the sun. They want it, they want to be
- [05:50]
Paul Sweeney
playing in, hey, the next area they need to focus on, they being the pharmaceutical industry. Baldness.
- [05:55]
Alexis
Baldness. Oh yeah, Huge opportunity.
- [05:58]
Paul Sweeney
Put the hair back on. You know, half the men was a big, I mean, is that something that they're talking about? Because that is the same areas as like obesity.
- [06:11]
Madison Mueller
Exactly. So Lilly actually does have a drug drug for alopecia, which is a little bit different. But there is another company, and I'm blanking on the name, but I know Ticker is Maine, which is pretty creative, that has been getting some hype recently because they are developing supposedly better hair loss treatment. So that's one that I know people have been watching.
- [06:30]
Alexis
But you know, when you look at these stocks, like Eli Lilly has barely budged year to date and you mentioned Novo Nordisk sort of being held flat footed year to date, they're down almost 12%, which mean, I guess I get that, but I would, I would expect a more enthusiastic response to Eli La and for some reason the stock's just not moving much.
- [06:46]
Madison Mueller
Yeah, I mean, I think that's because at this point it's, they've just grown so much. I mean their valuation is enormous. They hit a trillion dollars. They were the first health care company to hit $1 trillion valuation last year. And I think it's, it's hard for investors to see much more right now. Like when you're at the very base
- [07:06]
Alexis
sort of top right, they've peaked.
- [07:08]
Madison Mueller
Right. Like what, what is there to get excited about? Which, you know, there is a lot that Lilly is doing, but I think to get it up from the high, high, high point that it's at now, I mean it has to be something pretty spectacular. So I think that right now investors are sort of just watching and waiting to see what happens. Like, are they eventually you know, is there a mistake or a hiccup coming? Or are they going to be able to sustain this incredible growth? And so I think that that's sort of the moment we're in right now.
- [07:34]
Paul Sweeney
Stay with us. More from Bloomberg Intelligence coming up after this.
- [07:39]
Intuit Representative
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- [08:03]
Paul Sweeney
comes from Public Lately it feels like there are two types of investing platforms. Some are traditional brokerages that haven't changed much in decades, and others feel less like investing and more like a game. Public is positioned differently. It's an investing platform for people who are serious about building their wealth on public. You can build a portfolio of stocks, options, bonds, crypto without all the bugs or the confetti. Retirement accounts?
- [08:27]
Microsoft Representative
Yep.
- [08:28]
Paul Sweeney
High Yield Cash? Yes again. They even have direct indexing. Public has modern design, powerful tools and customer support that actually helps go to public.com market and earn an uncapped 1% bonus when you transfer your portfolio. That's public.com market ad paid for by
- [08:46]
Public.com Announcer
Public Holdings Brokerage Services by Public Investing Member FINRA SIPC Advisory Services By Public Advisors SEC Registered Advisor Crypto Services By ZeroHash all investing involves risk of loss. See complete disclosures@public.com disclosures running a small
- [09:01]
Intuit Representative
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- [10:02]
Bloomberg Intelligence Host
you're listening to the Bloomberg Intelligence Podcast. Catch us live weekdays at 10am Eastern on Apple, CarPlay and Andro with the Bloomberg business app Listen on Demand wherever you get your podcasts or watch us live on YouTube.
- [10:16]
Paul Sweeney
When we talk IPOs, we've been talking all about Space X over the last and for good reason to be some huge, huge offering there and as well as maybe some AI deals coming down to space. But there's another one out there. There's a quantum computing ipo. That's the other like secret sauce out there in addition to AI. You mentioned quantum computing and that gets your attention there. Anthony Edwards joins us here, Equity capital markets reporter for Bloomberg News. Talk to us about Honeywell. This Honeywell backed deal, Quantinium, what does this company do and what are they coming public for?
- [10:48]
Anthony Edwards
Yes, well, Quantinium is another quantum computing company. I mean there's been quite a few that have gone public over the last say three or four years, but most of those have gone public via SPAC mergers, which is probably sometimes that raises a question mark about their quality. And obviously also the spacious merger process sort of lends itself to companies that perhaps don't have an established level of profitability. But so the interesting thing here is that this is a fairly large ipo. This company will be, look, Quantinium will be looking to raise about $1 billion for a sort of market value, market cap of around sort of 1213. And yeah, I mean the company is not profitable, but it is a bit more mature than some of most of the other quantum computing names out there. But you know, this is just going to be another way for people to play quantum computing, which has become one of these big themes. And you know, what is quantum computing? Well, you sort of need a degree in quantum mechanics to explain it to you. Well, but basically these are very powerful computers that these companies are developing and you know, it's a little bit way off. But these can solve some really complex tasks that really classical computing can't. So you know, that's about as good an explanation as I can give you.
- [12:03]
Alexis
So what are some of the complex tasks they can solve? Like what are some of the ways that quantum computing can make money or help businesses in kind of in this moment we're in.
- [12:13]
Anthony Edwards
Yeah, well, I think the classic use case which people have been talking about and certainly with this, the marketing of this IPO is around drug discovery where basically that's a process that takes, you know, can take a very long time to take a drug from, from the R and D to commercialization and using these powerful computing. That's one idea, I guess is that you may be able to really speed up the whole R and D process because the way these computers work is that they can sort of process so much information sort of simultaneously in a way that classical computing can't. And you can really sort of go through these trials much quicker and really get, get through that process. That's just one, one area. And obviously the full commercial adoption of quantum computing is some way off. And obviously there's a view that there'll be plenty of other, you know, ways in which quantum computing can be deployed in the future as well.
- [13:14]
Paul Sweeney
Well, the Trump administration is supporting quantum computing. They announced on May 21 $2 billion in funding for some of these companies. Is Quantinium part of that group?
- [13:24]
Anthony Edwards
Yeah, so Quantinium got 100 million out of that deal. So, obviously in recent times, the US Government has put a bit of money into some companies and those companies like intel, and that's become obviously a very hot stock after being a very poor stock for a very long time. But yeah, so the whole sector, well, there was $2 billion devoted to about nine different companies. IBM getting a billion dollars was the lion's share of it. But there were some companies that actually missed out. So, you know, some people wondering why that was. But basically the government's prepared to invest a lot of money. Governments around the world are actually showing preparedness to invest a lot of money in quantum computing because they feel like it has a sort of an important industrial and, you know, national security relevance to them.
- [14:11]
Paul Sweeney
SpaceX, let's take it right back there. Have we seen a schedule, a road service schedule yet?
- [14:16]
Anthony Edwards
No, but basically the expectation is that, I mean, this IPO continuum is going to price on Wednesday, June 3rd. But the current expectation is that SpaceX will be launching its IPO or begin marketing its IPO on the day after that, potentially. And so really what we're seeing is Quantinium. And there's actually about a handful of other companies that are looking to go public before SpaceX, which somewhat flies in the face of the idea that other companies are going to completely steer a wide berth of SpaceX. But, but, you know, we don't expect to see a lot of other IPOs on the road at the same time as SpaceX. But we are going to see a decent amount of companies here, about 4 or 5 billion dollars worth of deals come right before SpaceX try to front
- [14:57]
Paul Sweeney
or just, I'm not sure front run the right term. But just to kind of get out there before SpaceX sucks all that capital out of the marketplace presumably.
- [15:04]
Anthony Edwards
Well, you know, I think the early indications are that there is going to be a lot of demand for SpaceX. I think we're going to find out more about that over the next week or so. I mean, it's been interesting because when that filing came out last week, I mean, I think a lot of people scratched their heads around the financials and the like. But I think, you know, there's a palpable sort of level of interest and hype around the whole thing, which probably means that they are going to be able to get the money fairly well. And you know, we can see that the banks are showing seem relatively confident they can raise some pretty reasonable sums of money in some of these other deals as well.
- [15:34]
Paul Sweeney
Stay with us. More from Bloomberg Intelligence coming up after this. Support for the show comes from Public. Public is an investing platform that offers access to stocks, options, bonds and crypto. And they've also integrated AI with tools that can assist investors in building customized portfolios. One of these tools is called Generated Assets. It allows you to turn your ideas into investable indexes. So let's say you're interested in something specific like biotech companies with high R and D spend, small cap stocks with improving operating margins or the S&P 500 minus high debt companies. Chances are there isn't an ETF that fits your exact criteria. But on Public you just type in a prompt and their AI screens thousands of stocks and builds a one of a kind index. You can even backtest it against the S&P 500. Then you can invest in a few clicks, go to public.com market and earn an uncapped 1% bonus when you transfer your portfolio. That's public.com market ad paid for by
- [16:34]
Public.com Announcer
Public Holdings Brokerage Services by Public Investing Member FINRA SIPC Advisory Services by Public Advisors SEC Registered Advisor Crypto Services by ZeroHash Sample prompts are for illustrative purposes only, not investment advice. All investing involves risk of loss. See complete disclosures@public.com disclosures being a small
- [16:53]
Intuit Representative
business owner isn't just a career, it's a calling. Chase for business knows how much heart and effort go into building something of your own. That's why they make business growth their priority. The Chase team takes the time to understand your mission, where you are now and where you want to go. Their broad range of solutions is designed with you in mind so you can bring your ideas to life. From banking to payment acceptance to credit cards, you can conveniently manage all your business finances all in one place with their digital tools looking for tips and advice. Their online resources are always available to give you the solutions you need to help your business thrive. See how your business can get stronger and go farther with Chase for Business. Learn more@chase.com business chase for business Make More of what's Yours the Chase Mobile app is available for select mobile devices. Message and data rates may apply JPMorgan Chase Bank NA member FDIC Copyright 2026
- [17:49]
Paul Sweeney
JPMorgan Chase Co. And pause really quick.
- [17:53]
Microsoft Representative
Wanted to also mention that not Only is Windows 11 Pro designed to help unlock operational efficiency and build long term advantage for your business, it can serious level up your team's productivity. And since I know you all love stats, guess what I got Microsoft commissioned Stats Compared to Windows 10 PCs, Windows 11 Pro users reported on average 50% faster workflows and collaboration, 42% faster completion of demanding workloads, and on average 61% longer battery life. Windows 11 Pro chip to Cloud security is designed to help employees stay protected and uninterrupted at the office, at home, the coffee shop, wherever they work. Speaking of uninterrupted, you IT managers are going to love this one. The Microsoft Commission survey also reported Windows 11 Pro PCs having a 62% drop in security incidents compared to Windows 10 PCs. Because Windows means business upgrade to Windows 11 Pro at windows means business.com
- [18:53]
Bloomberg Intelligence Host
youm're listening to the Bloomberg Intelligence Podcast. Catch us live weekdays at 10am Eastern on Apple CarPlay and Android Auto with the Play Bloomberg Business app. Listen on demand wherever you get your podcasts or watch us live on YouTube.
- [19:08]
Paul Sweeney
This next segment, this should really be Matt Miller. I don't know where he is, but I'll try. Well, we'll try to do it justice here. Craig Trudell joins us, Global Autos Editor for Bloomberg News. I think you have another title now, right?
- [19:19]
Craig Trudell
Yeah. Yeah.
- [19:21]
Paul Sweeney
What's your new title? You're like Grandpuba. We moved you back from London Managing
- [19:24]
Craig Trudell
editor for for business title.
- [19:27]
Paul Sweeney
Yes, if that's that's big, we moved him back from London. So Craig's here in New York. For better or worse. Craig, talk to us about Ferrari. That's all people are talking about here. They launched their first fully electric car. Again, I'm not like a Ferrari dude. That's a Matt Miller's territory. But tell us what you're you're saying
- [19:43]
Craig Trudell
I knew no matter what it was going to be something that I would be talking with a lot of people this morning knowing that this unveiling was going to be happening last night. But it absolutely has been, you know, universal and universally sort of. What is this? You know, how is this a Ferrari? It is very unferrari like in its exterior design. It looks like just more of a sort of typical car. I do think that, you know, they do get some credit for, you know, some of the details that they shared previously. The interior, I think is widely, you know, well regarded and has some cool touches to it. But from the outside, it looks, you know, very unferrari like and is very polarizing.
- [20:28]
Paul Sweeney
Okay.
- [20:29]
Alexis
Yeah. The Ferrari is known for its like really sleek, beautiful Italian lines. And this looks a little bit like a Prius.
- [20:36]
Craig Trudell
Yeah. And it's interesting that Jony I've, you know, was brought in for the design of this. So, you know, maybe that was intentional to sort of really shake things up and also perhaps to create some distance, you know, given that no matter what, this was going to have to be quite a departure from, you know, what we've come to know from Ferrari for so many years.
- [20:59]
Paul Sweeney
How committed to EVs are the Ferraris of the world, the Lamborghinis of the world? I mean, when you buy in a car, you know, you're like a Matt Miller. You want to be seen, you want to be heard, you want the roar of this thing and this distinctive roars the sounds of these supercars make. How committed are these manufacturers?
- [21:17]
Craig Trudell
We've seen a lot of the higher end manufacturers actually take steps back from making this transition and it was always going to be complicated. I do think that there are going to be some markets in the world where they have to have a vehicle like this for compliance reasons that even for really low volume manufacturers like Ferrari, which they will sell this vehicle in the hundreds as opposed to, you know, what we're, we're used to seeing from, you know, sort of mass manufacturers. And so, you know, this is not necessarily a case where, you know, Ferrari is going to live or die based on the success of this vehicle. But there are also going to be some countries where there is not sort of slack cut for even high, you know, high value, but low volume manufacturers like Ferrari. And so they need to make this transition even if it's very gradual in nature.
- [22:09]
Alexis
So in addition to the awesome rumbling engine, also the cars are supposed to go really fast. They are built for speed. What about this one?
- [22:18]
Craig Trudell
Yeah, I think this is interesting. It's going to be sort of commoditized that we see, you know, really quick acceleration for electric vehicles. We've seen that for some time. Right. And I think that's something you have to give Elon Musk credit for that. You don't have a situation where electric cars need to be sort of compliance vehicles that look like toasters and like science projects. You can make an electric car, you know, not just sexy, but, you know, the instant torque that you get out of an electric vehicle with, you know, battery that just that that power goes straight to the wheels. You're going to get that. And you would expect that of Ferraris where they have, they're going to have a motor on each wheel. For this vehicle, it is going to be incredibly quick, about 2 1/2 seconds from 0 to 60. So this one will absolutely throw your head back, even if maybe it's not the biggest looker to show off to your friends.
- [23:15]
Paul Sweeney
All right, while we got you here, you mentioned it, Tesla here, what's going to happen with this company because everybody's attention, including, I'm assuming, Elon Musk's attention, is on SpaceX. What are you guys who follow Tesla since day one? How do you think this is going to play out?
- [23:31]
Craig Trudell
I think it's fascinating that also that we probably take for granted how long it's been the case that this is the company that, that Elon Musk is, is paid most attention to and that even for, you know, Tesla being as, as successful as it has been and built itself into, you know, the far and away the most valuable car manufacturer. SpaceX has long been his baby and sort of, you know, what he's sort of focused on of, of, you know, taking us to other planets. I do think that it's fascinating to me that some of the people that are closest to Musk now are sort of talking very openly about the notion that the SpaceX IPO might be sort of step one in further consolidation of, of his empire and that perhaps a Tesla Space X combination down the line.
- [24:24]
Paul Sweeney
Stay with us. More from Bloomberg Intelligence coming up after this. Support for the show comes from public. Public is an investing platform that offers access to stocks, options, bonds and crypto. And they've also integrated AI with tools that can assist investors in building customized portfolios. One of these tools is called generated Assets. It allows you to turn your ideas into investable indexes. So let's say you're interested in something specific like biotech companies with high R and D spend, small cap stocks with improving operating margins, or the S&P 500 minus high debt companies. Chances are there isn't an ETF that fits your exact criteria. But on public, you just type in a prompt and their AI screens thousands of stocks and builds a one of a kind index. You can even backtest it against the S&P 500. Then you can invest in a few clicks, go to public.com market and earn an uncapped 1% bonus when you transfer your portfolio. That's public.com market ad paid for by
- [25:23]
Public.com Announcer
Public Holdings Brokerage Services by Public Investing Member FINRA SIPC Advisory Services by Public Advisors SEC Registered Advisor crypto services by ZeroHash sample prompts are for illustrative purposes only, not investment advice. All investing involves risk of loss. See complete disclosures@public.com disclosures being a small
- [25:42]
Intuit Representative
business owner isn't just a career, it's a calling. Chase for Business knows how much heart and effort go into building something of your own. That's why they make business growth their priority. The Chase team takes the time to understand your mission, where you are now and where you want to go. Their broad range of solutions is designed with you in mind so you can bring your ideas to life. From banking to payment acceptance to credit cards, you can conveniently manage all your business finances all in one place with their digital tools looking for tips and advice, their online resources are always available to give you the solutions you need to help your business thrive. See how your business can get stronger and go farther with Chase for Business. Learn more@chase.com business chase for business Make More of what's Yours the Chase Mobile app is available for select mobile devices. Message and data rates. May apply JPMorgan Chase Bank NA Member FDIC Copyright 2026 JPMorgan Chase Co. And pause really quick.
- [26:42]
Microsoft Representative
Wanted to also mention that not Only is Windows 11 Pro designed to help unlock operational efficiency and build long term advantage for your business, it can serious level up your team's productivity. And since I know you all love stats, guess what I got Microsoft commissioned stats. Compared to Windows 10 PCs, Windows 11 Pro users reported on average 50% faster workflows and collaboration, 42% faster completion of demanding workloads, and on average 61% longer battery life. Windows 11 Pro chip to Cloud Security is designed to help employees stay protected and uninterrupted at the office, at home, the coffee shop, wherever they work. Speaking of uninterrupted, you IT managers are going to love this one. The Microsoft Commission Survey also reported Windows 11 Pro PCs having a 62% drop in security incidents compared to Windows 10 PCs. Because Windows means business upgrade to Windows 11 Pro at windows means business.com
- [27:42]
Bloomberg Intelligence Host
youm're listening to the Bloomberg Intelligence Podcast. Catch us live weekdays at 10am Eastern on Apple CarPlay and Android Auto with the Bloomberg business app Listen on demand wherever you get your podcasts or watch us live on YouTube.
- [27:57]
Paul Sweeney
World cup is coming starts June 11th first game for the US of A. June 12th US against Paraguay. So you got that going for you. It's big business. It's big business globally. We're not really into it so much yet here in the US But I'm sure we'll get there over the next few weeks. Jen Bartasha, she's been crunching the numbers. She's covers all the retail stuff for Bloomberg Intelligence. Jen, I'm seeing some huge numbers of what the World cup means, economic impact across the globe. How do you guys look at it?
- [28:26]
Jen Bartasha
Yeah, hi Paul. So you know, the estimates this year are that the World cup around the world could be result in $80 billion worth of spending. So that's a huge sporting event. It's the biggest event for a lot of countries around the world. But as you alluded to in your, in your warm up or entry, the United States, we're not such a big soccer country. So it's going to be very interesting to see how having the tournament here plays out. With regards to that anticipated spend.
- [28:54]
Alexis
I'm wondering if the NBA Finals and I'm going to be very New York centric right now for a moment, but we've got the New York Knicks in the finals for the first time since 1999 over at MSG. Is that going to take any of the Thunder away from the World cup or these two different sets of fans or maybe is that part of the problem?
- [29:14]
Jen Bartasha
Well, it's a good question, Alexis, and I think that there you're talking about kind of two sets of fans. Everybody's very excited about the Knicks and you know, as that final comes through and we see what happens, I think there's grounds and reason for the city to celebrate. But the World cup matches are actually happening outside of Manhattan. They're happening in New Jersey. And right now one of the challenges I think for the World cup is that none of the matches are sold out. Ticket prices are way out of the reach of your average, your average fan. And so as we get closer to the tournament, part of what we'll be seeing is, you know, do those prices come down to help improve engagement and get people in the stadia and get them excited about the tournament?
- [29:59]
Paul Sweeney
Jen, right now, what, what are the brands that are really making big commitments to the World cup these days?
- [30:05]
Jen Bartasha
Yeah, it's a, it's, it's obviously there are A lot of partnerships that happen with regards to brands. On the apparel side, Adidas is leading. They have made commentary from their management team that they expect the World cup to generate a billion euros in revenue for them. Our analyst, who is Poonam Goyal, our lead analyst for Adidas, she thinks it's closer to 1.2 billion euros. You've also got brands that are doing other partnerships like Old Navy and Gap, where they're at a much lower price point, but they're having the ability for people to just buy a T shirt for the team, team that they're supporting. So you're seeing it across all different levels within the retailer space. And I think that those are the things that get people excited if they pick a team and they're able to follow it and they're able to participate in some way. But those are, you know, when you look at the athletic brands, Adidas and Nike are the ones who have the kits, the uniforms for the most teams that are in the Cup. So if people go out and they buy the actual jerseys, that's a benefit for Adidas and Nike.
- [31:09]
Alexis
Jen, I want to go back to ticket prices, which has been a sore spot for, for fans. They've just been, you know, through the roof in many places because FIFA is using dynamic pricing. If there are a lot of seats left just before these matches happen, you know, are we going to see a material drop in prices?
- [31:27]
Jen Bartasha
Do you think it is possible that we'll see a drop in prices as the matches become nearer because of that dynamic pricing? But it's not just the match. If you've seen any of the other media out there, it's about getting to the match as well. So, you know, we've seen, you know, New Jersey Transit, for example, talking about getting to Giant Stadium where there are going to be matches. You know, the round trip train ticket at one point was $150. Now it's closer to $100. But that's still a big outlay just to even get to the stadium where that's happening. Not every city is doing the same thing, but there are lots of ways that, that fans are getting gouged beyond just the actual ticket price to be able to go to the stadium and enjoy the show.
- [32:10]
Paul Sweeney
What did the retailers say? Does this drive sales like the people come and buy jerseys and things like that?
- [32:17]
Jen Bartasha
It depends, I think is the answer. Paul. In the United States, I think that there's a little bit less of that unless the US Team happens to go far. The further the US team goes in the tournament. I think the better that is for US Based retailers because people will jump on that fan bag, fan fan bandwagon and purchase things to show support for the US Team globally. However, it's good for those brands that are, as I said, Adidas and Nike, those brands that have the official jerseys. There's a lot more of that kind of purchases that happen overseas.
- [32:55]
Bloomberg Intelligence Host
This is the Bloomberg Intelligence Podcast, available on Apple, Spotify and anywhere else you get. Your podcasts listen live each weekday 10am to noon Eastern on Bloomberg.com, the iHeartRadio app, TuneIn and the Bloomberg Business App. You can also watch us live Every weekday on YouTube and always on the Bloomberg Terminal.
- [33:20]
Paul Sweeney
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