SpaceX IPO, Airline CEOs at IATA

Summary

Bloomberg This Weekend – June 7, 2026

Episode Focus: SpaceX IPO, Global Airline Industry & Current Political Races

---

Episode Overview

This edition of Bloomberg This Weekend explores headline-making business and political stories, with a primary focus on SpaceX’s historic IPO, key insights from airline CEOs at the IATA summit, and analysis of notable political races in Maine and California. Hosted by David Gura, Christina Ruffini, and Lisa Mateo, the show features in-depth commentary from Bloomberg journalists and expert guests, blending market insight, CEO interviews, and political analysis.

---

SpaceX IPO: Market Impact and Investor Expectations

Main Segment: [02:12–14:43]

Context and Significance

• SpaceX, ticker SPCX, is set for its IPO on NASDAQ this week and is projected to be the largest ever, with an anticipated $75 billion raise and a valuation nearing $1.77 trillion.
• The company’s unique IPO process and focus on capital for ambitious expansion—including AI—generate intense investor and media interest.

Key Guests

• David Lowe (Bloomberg Tech co-host)
• Bailey Lipschultz (Senior Equities Reporter, Bloomberg)
• George Ferguson (Aerospace and Defense Analyst, Bloomberg Intelligence)

Main Discussion Points

Unconventional IPO Strategy

• David Lowe:
  • SpaceX pre-priced its shares before the traditional investor roadshow, giving early valuation numbers and stirring debate.
  • “Nothing about this process from SpaceX has been typical. It's been highly unusual.” (03:07)

IPO Demand and Valuation Mechanics

• Bailey Lipschultz:
  • The order book was reportedly filled with over $75 billion in orders even before final pricing, with $135/share as the number to watch.
  • “What we'll be tracking over the next few days is how large does that number grow?” (04:10)
  • SpaceX joins NASDAQ 100 in July but won’t meet S&P 500’s criteria until potentially 2027–2028 due to the need for 12 months of net income positivity.

Eligibility for Indexes: S&P 500 vs NASDAQ

• David Lowe:
  • S&P 500’s selection committee maintains strict profitability requirements, despite outside calls for reform—mirroring past cases like Tesla and Uber.
  • “The difference between them and Nasdaq 100... Nasdaq operates an exchange. They benefit from having SpaceX trading ... S&P, that's up to them.” (06:28)

Business Viability and Market Impacts

• George Ferguson:
  • Skepticism about SpaceX’s heavy dependence on Starlink accounts for the lion’s share of its launch business.
  • “Elon Musk has built a very impressive space business, but it solely serves his low Earth orbit Starlink.” (08:15)
  • Questions about government and private demand for such constellations—seeing room for just a handful worldwide.

Musk’s Motivation and Vision

• Clip of Elon Musk at J.P. Morgan Roadshow:

  • Why go public now? “We’re embarking on a massive new growth phase and we need capital for that.” (10:52)

• David Lowe:

  • Musk is central to the story for investors; the IPO is required to raise capital at a scale only public markets can provide.
  • “Everything SpaceX outlines in its future is dependent on Elon Musk still being around to make it happen.” (11:42)
  • Future growth relies not just on launches, but on AI-driven software sales—a huge pivot.

Market Consequences

• David Lowe:
  • Discussion about how a mega-cap IPO like SpaceX may influence broader market volatility, with mixed opinions on causation.
  • “This has been the worst kept secret of an IPO of all time ... if we do see more volatility, there could be a bit of questions around where is this capital flowing from and what does it ultimately mean?” (13:32)

Notable Quote

• David Gura (on Barron’s coverage):
  • “Barron's is calling SpaceX the world's most valuable money-losing company.” (06:00)

---

Airline Industry: United Airlines CEO Scott Kirby

Main Segment: [17:07–28:03]

Context and Summit Setting

• Lisa Abramowicz interviews Scott Kirby, CEO of United Airlines, at the IATA conference in Rio de Janeiro.

Key Themes

Demand and Global Outlook

• Record summer travel expected—U.S. demand particularly strong.
• “It's been more resilient ... This summer is going to be a record summer.” (17:07 Kirby)

Regional Weaknesses and Oil Price Risks

• Asia and parts of Africa and the Middle East show some vulnerability due to high oil prices, though no clear evidence of demand drop yet.
• “You can sense some worry ... if this goes till July ... it keeps getting pushed down the road unfortunately, because demand stays strong.” (18:01 Kirby)

Fares, Capacity & Consumer Resilience

• Prices up 20%, capacity trimmed 5%, yet Kirby calls air travel “by far the best value as part of the travel chain.”
• “The consumer has been responsible, resilient, even with fares ... still in real terms lower than they were in 2019.” (18:53 Kirby)

Premium Versus Broad Consumer Trends

• United invests heavily ‘nose to tail’ for all customers, noting premium segment is especially strong, but overall demand is healthy across the board.
• “Premium has been stronger ... but it's been strong across the board for us.” (19:37 Kirby)

Supply Chain and Aircraft Modernization

• Major aircraft orders placed early, but engine shortages are the biggest constraint globally, with 900 aircraft grounded for lack of engines.
• “Engines are going to constrain supply around the globe for probably the next decade ... just not enough engines.” (21:36 Kirby)

Industry Pressure & Innovation

• United positioning itself as the innovator, particularly with onboard technology and service.
• “We're investing more than anyone ... When you change the whole experience, that's how you win brand loyal customers.” (23:24 Kirby)

Industry Consolidation

• United is likely not pursuing further industry consolidation due to a lack of willing partners.
• “I think it means that United is likely sitting out the consolidation game.” (24:26 Kirby)

Oil Prices and Profitability

• Kirby expects $90–$110/barrel oil for the foreseeable future, expecting airlines to respond with higher fares rather than mass bankruptcies.
• "We're planning for that sort of for the indefinite future, that $90–$110 level." (25:43 Kirby)

International Expansion

• United’s focus is on international growth, leveraging strong hubs and catching up as Boeing delivers more widebody jets.

Notable Quote

• “To me, the economy, we're a really good real-time barometer ... the economy feels strong.” (25:07 Kirby)

---

U.S. Political Races: Maine & California

Main Segment: [31:08–38:30]

Maine Senate Primary: Scandals and Party Dilemmas

• Graham Platner, Democratic Senate contender, faces scandal (abuse allegations, inappropriate conduct, Nazi-esque tattoo).
• Despite media firestorms, Platner retains a lead in primary polls; party elites divided on whether to move on or back a more “viable” candidate.
• Abby Livingston (Puck News):
  • “This is the most important Senate seat to Democrats. It's the easiest pickup. And yet ... there is in his, among his supporters a confidence he's been able to get through this ... but the other folks are like, 'well, hey, the Republicans haven't had their chance to just dump a nuclear bomb of advertising against him.’” (32:18)

S&P & Party Politics

• Chuck Schumer’s legacy in candidate recruitment faces stiff tests in Maine and Michigan.
• “Candidate recruitment is why Chuck Schumer is in the position he's in ... North Carolina is obviously one of them. But ... Michigan and Maine are absolute messes for the recruits he did not have.” (34:57 Livingston)

California Gubernatorial and LA Mayor’s Races

• Ashley Koenig (Eagleton Center for Public Interest Polling):
  • Democrats dodge a bullet by keeping a GOP candidate out of the top spot for governor.
  • Tight races in LA mayoral contest, slow ballot counting feeds into election security conspiracies.

Affordability in American Life

• President Biden, asked about high ticket prices for major sporting events, responds:

  • “Well, I know, but they can watch it on television. It's sort of semi free to watch it on television. But that's the way life goes.” (37:26 Biden)

• Panelists flag this (and other Biden gaffes) as ammo for Republicans in a high-inflation election year.

  • Abby Livingston: “I mean, he's now at a montage level with this ... I think the biggest struggle here for Democrats is which ones to pick to use in the ads. They have a glut of choices.” (37:59)

---

Culture, Lifestyle & Lighter Moments

Segment: [40:49–47:04]

• Elmo on X and Knicks Fans

  • Elmo’s cheerful tweet wishing both NBA Finals teams good luck sparks internet outrage among New Yorkers.
  • “Someone called him an apologist puppet, which I thought was really funny. So many comments. NYPD said, just like in Times Square, we think this Elmo is an imposter.” (42:07 Gura)

• Luxury All-Inclusive Vacations

  • Discussion on the value and psychology of all-inclusive travel, with some packages going as high as $20,000/week.
  • “If you don't go all-inclusive and you have a lot of kids ... then you get the bill at the end, and you're like, 'where do all these smoothies come from?’” (44:07 Mateo)

• The Rise of Longevity Services in Condos

  • High-end residential buildings leasing space for boutique health and longevity services, from on-site MRIs to health clinics.
  • “Forget about rooftop pools, private dining ... What people want in their luxury condos are longevity services.” (46:07 Mateo)

• Hosts’ Banter

  • Light-hearted debate over luxury amenities, the virtues of cold plunges, and the fine print of vacation tipping etiquette.

---

Notable Quotes Recap

• “Nothing about this process from SpaceX has been typical. It's been highly unusual.” – David Lowe (03:07)
• “Barron's is calling SpaceX the world's most valuable money-losing company.” – David Gura (06:00)
• “Elon Musk has built a very impressive space business, but it solely serves his low Earth orbit Starlink.” – George Ferguson (08:15)
• “We're investing more than anyone and we're doing the kinds of things really that no one has ever done ... When you change the whole experience, that's how you win brand loyal customers.” – Scott Kirby, United CEO (23:24)
• “Well, I know, but they can watch it on television ... that's the way life goes.” – President Biden (37:26)
• “He's now at a montage level with this ... I think the biggest struggle here for Democrats is which ones to pick to use in the ads.” – Abby Livingston (37:59)

---

Timestamps for Key Segments

• SpaceX IPO Analysis: 02:12–14:43
• United Airlines CEO Scott Kirby Interview: 17:07–28:03
• Maine & California Political Races: 31:08–38:30
• Culture & Lifestyle Roundtable: 40:49–47:04

---

Tone

The hosts mix analytical rigor with playful banter, keeping the conversation lively yet insightful. They aren’t afraid to poke fun at each other or the newsmakers.

---

For listeners and non-listeners alike, this episode provides a sweeping overview of market-moving events, industry strategy, political intrigue, and a healthy dose of cultural levity — giving context and color to the week’s biggest stories.

Transcript

[Chase Business Representative]

Small businesses are the pulse of every community. They bring people together, create opportunities and drive growth. Chase for Business helps business owners like you with personalized guidance and convenient digital tools all in one place. With that guidance and your determination, you can take your business farther and help build a brighter future for your community. Learn [e-mail] 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.

[The Hartford Insurance Representative]

When you're running a business, the best days are the ones where priorities stay on track. For midsize and large companies, risk can affect multiple parts of the organization at once, from property and liability to cyber and regulatory challenges. At that level, managing risk becomes an ongoing discipline. At the Hartford, the focus is on helping businesses manage risk before it turns into something more disruptive. And when losses do happen, that work is paired with insurance coverage shaped by years of underwriting, risk engineering and claims experience. Learn [e-mail] Riskmitigation policies provided by Hartford Fire Insurance Company and its property and casualty affiliates. Hartford, Connecticut Game Night Rush or Any Night of the Week really genius keeps

[David Lowe]

every order moving from online ordering to

[The Hartford Insurance Representative]

your kitchen to the front counter big league reliability for any business.

[David Lowe]

That's genius.

[Bloomberg Audio Studios Announcer]

Bloomberg Audio Studios Podcasts Radio News welcome

[Advertisement Voice]

to the Bloomberg this Weekend podcast with

[Redfin Representative]

David Gura, Christina Raffini and Lisa Mateo.

[David Gura]

Thanks for joining us for today's selection of conversations from the show.

[Christina Raffini]

You can listen to our favorite discussions right here on the podcast, but also make sure to join us live every Saturday and Sunday morning starting at 7am Eastern.

[Lisa Mateo]

We're on Bloomberg Television Radio and the Bloomberg Business App, bringing you unique takes and in depth interviews on news, politics, lifestyle and culture.

[David Gura]

All right, this will be an historic week for the market. Space X Ticker SPC X is going to make its debut on the NASDAQ on Friday. That's right, it is happening. It's happening this week. It's going to shatter records and be the largest ever initial ipo, initial public offering.

[Christina Raffini]

So this is an opportunity for the company to make some money, investors to make some money, and for me to make some groan worthy puns as we continue onward here. The estimates for how big Space X could be are quite literally astronomical, but there's a lot that could happen between now and then. Joining us now ahead of the launch, David Lowe, co host of Bloomberg Tech Bailey Lipschultz, a senior equities reporter covering IPOs and George Ferguson, senior, Aerospace, Defense

[David Gura]

and Airline, apologies to all of you for enduring that.

[Christina Raffini]

I know that Ed Ludlow has heard none of these puns before and certainly isn't tired of these old. I'm going to start with you. I know you're going to be in town for this IPO when it happens at the nasdaq. What should we expect here in the days leading up to it? What should be watching for this week?

[David Lowe]

Yeah, I mean, nothing about this process from SpaceX has been typical. It's been highly unusual. But technically right now they're in a roadshow. They're out there in different guises trying to convince investors that the story is real and that investors big and small should participate. It's what you call a roadshow. Right. I think the reason that Bailey and I in particular are kind of scratching our heads is that SpaceX took this step of almost pre pricing the IPO very early, before the roadshow had even started, which gave us all these large numbers that we have. And that's not how that usually works. What they're trying to get as the net result I think is worthy of debate.

[David Gura]

So Bailey, walk us through that. Do you expect that pricing to be about where estimates are right now? What happens with the IPO process in the next couple of days? Who's able to buy it and then what are the rules for being listed on these different indexes? I know the S&P 500 especially, there's been some controversy there.

[Bailey Lipschultz]

Yeah.

[David Lowe]

So basically what we reported on Friday is that they already have enough orders, quote unquote, to fill the book. That doesn't really mean a lot, but that basically says they already have more than 75 billion of demand. So what we'll be tracking over the next few days is how large does that number grow? Bankers are going to be courting some of the largest institutional investors and obviously working around the world to see how much demand they get from individual and retail investors. So they'll build out that book as it plays out in the coming days, that number will only get larger. And with that fixed price at $135 a share that Ed mentioned, the company kind of as of now is calling it shot. Yes, they have the flexibility to essentially refile with any number. They could bring out a rang, they could increase the number of shares. Structurally, they are allowed to do that in the coming days leading up to Thursday. Once we see books likely close on Wednesday, that's when the bankers real work will begin and we'll be chasing and calling all of Our sources to see, okay, are they staying at $135 a share and will this stick at an initial fundraise of $75 billion at a $1.77 trillion valuation? Huge numbers that we're going to keeping an eye on. But really this is where the bankers are going to have to pull together these orders and try to get a better sense of where this will ultimately go. As you mentioned, this is a company that should be joining the Nasdaq 115 trading days after they price and trade on Friday. So they'll be joining the NASDAQ 100 early in July. They will not be joining the s and P500 in six months. And we put out a story on Friday that according to analyst estimates that we've gotten our hands on, it may be closer to 2027, 2028, because they do need to be net income positive on a trailing twelve month basis. And in the last quarter they're still operating at a loss and analysts are expecting them to only continue to spend more money in the coming years.

[David Gura]

Barron's is calling Space X. Sorry, Barron's is calling Space X the world's most valuable money losing company. Go ahead, David Bailey.

[Christina Raffini]

I just, I want to dig into that. I read that piece you quote Howard Silverblatt, longtime veteran of S and P and he talked about how S and P is still holding fast to this. That that net income positive thing that's been there for so long. Is it likely to change? Is this a moment when S and P is likely to reevaluate that? Just describe the kind of contrast here between S and P and Nasdaq in more detail if you would.

[David Lowe]

Well, the S and P has this committee, no one knows who's in it. They take this proposal, they went to the this committee and said, we want you to look through shortening the timeline from 12 months to six months. We want you to reevaluate. If we still think gap net income positivity on a 12 month basis is still a bar that we want to be cleared. The committee came out and seemingly said all the rules that we had in place before still in place. Yes, they could reevaluate this in six months, they could reevaluate this in three months. That is totally up to S and P if they want to do that. The difference between them and NASDAQ 100, NASDAQ operates a exchange. They benefit from having SpaceX trading on the Nasdaq. You have to be on the NASDAQ to be in the NASDAQ. 100. So that's a bargaining check. From the Exchange perspective, the big question will be, does S P re evaluate this again? If we do get Anthropic going public later this year, if we get open AI going public later this year, a company that people don't think will be profitable until the2030s, that again creates more of a conversation. But we had that, we dealt with this before with Tesla, with Uber, with a number of other companies that whether they were building out their operations or didn't care to, according to financial statements, be profitable, weren't added to the S&P 500 for quite some time. And that was good and bad, depending on the investors you spoke to.

[David Gura]

All right, George, we've talked about the money, we've talked about the markets. Talk to us about the nuts and bolts of this actual company. What is your take on, on this new era of the public private space race and how you think SpaceX, Blue Origin, but especially SpaceX, you know how that impacts this, the aerodefense industry, especially in light of China and even, you know, these alliances between India and Japan and other, other countries trying to get in on this.

[George Ferguson]

Yeah, so thanks for having me again. So to me, you know, the, the new space race, I mean, I think some of the technological hurdles they're overcoming are outstanding. As, and as a aerospace defense geek, it's very exciting. But I don't see the business case here as much as even I think before we saw the public filings, so. Excuse me. So when we looked at SpaceX got into the filings, 76% of their launch, of the launch business was all for Starlink in 2025, some 80% were for Starlink in the first quarter. So, I mean, Elon Musk has built, I think, a very impressive space business, but it solely serves his low Earth orbit Starlink. And as we think about Starlink, we think about demand for space from governments, from low Earth orbit operators. First, I think low Earth orbit operators are the biggest potential operators or you know, requirers of lift into space. They're building constellations that are 10,000, some of them expect sort of 12, 13, 15,000 large satellite constellations. Look, I think that maybe there's room for maybe five of those in the world. When I think about, you know, sort of the next decade or so, I think maybe the Chinese would want to build out a couple of these. You've seen already, Amazon, they'll build something out with Leo, they're far behind, but they'll want to lift that with Blue Origin, I think The Chinese want to lift that with something out of China. There's a lot of SpaceX wannabes out of China and I think maybe Europe or India might do one of these Leo constellations. I think government satellite isn't big enough to warrant a business like this. And so. Well, I'm super excited about the business and the technology. Again, I think the majority of the service launch has, is for Elon Musk's dream of data centers in space and connectivity out of space to the Earth's surface, which is starlink.

[Christina Raffini]

Elon Musk had an opportunity to kind of explain the business to a sophisticated audience. He started his roadshow right down Park Avenue at J.P. morgan's headquarters with, with Jamie Dimon. Let's take a listen to what he had to say about the motivations for going public right now.

[Bailey Lipschultz]

Why SpaceX public now? Because you had choices you didn't have to. Why now? We're embarking on a massive new growth phase and we need capital for that.

[David Gura]

Okay. Okay.

[Bailey Lipschultz]

Number two, another thing is the revenue. Like, I also feel pretty good about like the revenue per projections, meaning like, like before, like revenue was a little unstable at Ludlow.

[Christina Raffini]

The, the laughter there audible probably to you all the way across the country in California. But let's, let's drill in on what George was talking about just a moment ago here. That is, there is concern about this conglomerate going forward. We've talked about that on the show with you before. And the fact that this is not just a rocket business or a satellite business. There's a huge AI component. There are these wild aspirations for data centers in space and millions on the moon and Mars. How incumbent on Elon Musk is it, to make this case to investors? Or is there, as we've been talking about, a pool of investors, prospective investors, who are so bought into this vision that Elon Musk has. That's really not necessary at this point.

[David Lowe]

Yeah, a big part of the story for those investors that have been with SpaceX for a long period of time as a private company and a lot of people that are considering, like, how do I, and will I participate in this ipo? It's Elon Musk is kind of the swing factor. We call it boilerplate. But in the S1 filing, there's a section dedicated to the fact that everything SpaceX outlines in its future is dependent on Elon Musk still being around to make it happen. The reason that SpaceX is going public is that they need to raise capital at a level that only an IPO can facilitate. Really Private markets have been very willing and supportive of OpenAI and anthropic. And SpaceX has done things a little bit differently where they've tended to allow employees to sell shares. And in that process SpaceX bought back shares, but they never raised money through that mechanism. It's just really a liquidity practice. So that's all kind of jargony market stuff. The main point being they need money. Why do they need money? They need money to buy GPUs, chips for, for running AI models. Because the business model going forward is not one of simply launching stuff into orbit. You know, the way that they present it is that they will make the vast majority of their money from selling AI software. And it's like a series of steps for them to get there.

[David Gura]

I mean, there are certain large objects or co anchors I would like to launch into orbit if they don't stop making terrible space punctuation. I'm sorry, you leave Lisa alone. Bailey, I do want to ask you about, you know, we had this, this real slump of these tech stocks towards the end of the week and after Friday. So now you've got Space X entering the mix. How do you think this Mega cap is going to impact the entire market as we go back to trading tomorrow?

[David Lowe]

I've heard every kind of take from this is people selling to create capacity. This is strictly what happens when large IPOs take place. The one thing I will point back to, as Ed knows as well as I do, this has been the worst kept secret of an IPO of all time. And five months ago we were reporting that they wanted 1.75 to $2 trillion in valuation. They wanted to raise $75 billion in capacity. They were planning on doing that this summer. Obviously there are technical inputs. Obviously no one working on the steel wants to see the NASDAQ 100 down 4% on Friday. Everyone will be keeping an eye on how the markets trade in the coming days. But I do a question to some degree, the causation versus correlation of a market that has seemingly been doing nothing but moving up into the right with a bit of a pullback. Obviously if we do see more volatility, we do see a spike in the VIX Monday through Wednesday. That could cause a bit of consternation and there could be a bit of questions around where is this capital flowing from and what does it ultimately mean? But I do think the big question will be how the market performs. Was Friday really just a reaction to some economic data and a rerating or resetting a bit of Fed expectations the

[Christina Raffini]

IPO Palooza here on Bloomberg this week. And our thanks to all of you for joining us at Ludlow of course anchor of Bloomberg Tech Bills senior equity supporter here Bloomberg News George Ferguson with Bloomberg Intelligence. Stay with us for more on Bloomberg this weekend, right after this.

[David Gura]

With LPL Financial, we provide the services to help push you forward when it comes to your finances, your business, your future. The only question should be what if you could pin Advertisement Anna Kendrick is not a client of LPL Financial LLC and receives compensation to promote lpl.

[Advertisement Voice]

Investing involves risk, including potential loss of principal.

[David Gura]

LPL Financial LLC member Finras IPC if

[Bloomberg Audio Studios Announcer]

you're feeling off fatigue, mood changes, skin shifts, yet your labs say everything's normal.

[Advertisement Voice]

You're not alone. Meet Oestra from Inner Balance, the first all in one prescription strength bioidentical hormone cream that's natural and effective and only takes one drop 10 seconds a day. Oestra replaces five to six products women typically use to treat symptoms and is third party tested to ensure the high highest quality.

[Bloomberg Audio Studios Announcer]

Visit innerbalance.com today to start feeling like yourself again. That's innerbalance.com the following ad is sponsored

[Pets Best Insurance Representative]

by Pets Best Insurance Services. You knew right away he's perfect. The one for you. Those puppy dog eyes, that cute little button nose. You don't even mind the drool. When you find your perfect match in a dog or cat, the love is unconditional. Your budget, on the other hand, has realistic limits. Help protect your heart and your wallet with pet insurance from Pets Best. With plans starting from less than a dollar a day, you can get up to 90% cash back on eligible vet bills. Pets Best makes it easy to pick a plan that works for you and your bank account. Find the perfect match for your Perfect [e-mail] Pet insurance products offered and administered by Pets Best Insurance Services, LLC are underwritten by American Pet Insurance Company or Independence American Insurance Company for terms and conditions, visit www.petsbest.com. policy products are underwritten by American Pet Insurance Company, Independence American Insurance Company or Ms. Transverse Insur and administered by Pets Best Insurance Services LLC. $1.00 a day premium based on 2024 average new policyholder data for accident and illness plans. Pets age 0 to 10.

[Christina Raffini]

Trio de Janeiro now that's where our colleague Lisa Abramowicz is of course the co host of Bloomberg Surveillance. She's sitting down with the CEO of United Airlines, Scott Kirby. Lisa, take it away.

[Lisa Abramowicz]

Thank you so much David. I am here still in Rio with Scott Kirby, the CEO of United Airlines. Scott, always wonderful to speak with you. Great to be here, Lisa, thank you for being here. I was actually surprised by the tone here, and I shouldn't be surprised because every conversation I have with different executives in the airline industry, things are better than expected, demands actually picking up. It's been more resilient. This summer is going to be a record summer. You're hearing the same thing. Is that kind of your tone as well?

[Christina Raffini]

Yeah.

[Bailey Lipschultz]

A lot of questions for people around the globe, really, like, because we're, you know, a US Airline, obviously. Obviously. Like, what do you think is going to happen in the Gulf? And people are worried about oil prices, but demand, you know, certainly us, anything related to us feel strong. I think there are other parts of the globe that, you know, maybe are a little more concerned about demand, but really strong in the US and mostly strong around the globe. And people have the view that, you know, they hope that this gets resolved at some point and that we're back on track to what was looking to be a really good year to start the year.

[Lisa Abramowicz]

Where are you seeing demand kind of fizzle around the world or at least fade just a touch in response to higher prices?

[Bailey Lipschultz]

You know, we don't really see it at United because So, you know, 80% of our traffic, even international traffic, is US point of sale. But you can, I think, see, you know, starting to see the glimmers. You know, Asia is the first place. You know, the impact of oil and refinery issues in Asia have been the worst. And, you know, and I think Africa, you know, certainly the Middle east has had an impact. So you can, I think, sense some worry. Not really evidence of weakening of demand. But, you know, you talk to people in one on ones, you get sent some concern that if this goes, you know, sort of in the standard line all along, if this goes till July, it's going to be a problem in March. If this goes into April, it's going to be a problem. And it keeps getting pushed down the road, unfortunately, because demand stays strong.

[Lisa Abramowicz]

Well, and so so far you've raised prices about 20%, cut capacity about 5%. Is that enough? Do you anticipate more price increases and more capacity limitations?

[Bailey Lipschultz]

You know, time will tell. Depends on what's happening with the economy, what happens with oil prices. But I feel pretty good about where we are right now. You know, we laid out a path to getting to 100% fuel recovery. Certainly looks like we're still pretty much solidly on that path. And, you know, even oil has come down a little, actually would move it a little earlier from when we set it but we feel pretty good about where the demand environment is and you know, the consumer has been responsible, resilient, even with fares. But in truth like fares are up 20% but they're still in real terms lower than they were in 2019. So air travel means by far the best value as part of the travel chain and, and then pleasantly surprised with the resilience of the consumer so far.

[Lisa Abramowicz]

Is it all driven by the premium consumer who seems to be insatiable or is it really across the board?

[Bailey Lipschultz]

You know I always talk about, at least at United we're investing nose to tail for customers, stores and most of the things that we're doing for the product apply to everyone. Seatback entertainment, every seat, Starlink on every aircraft, you know, great new interiors applies to everyone. And you know the premium is a, has been stronger for a couple of years. It's still a little bit stronger but it's pretty hard. You know, I think it's been strong, you know, across the board for us but you know, we skew to the high end. You know, even the economy passengers are, you know, skewing towards the top end of that K curve for, for air travel and international of course skews even higher but we really haven't, haven't seen any, any noticeable cracks in demand sort of anywhere in the cabin.

[Lisa Abramowicz]

And you've been upgrading all your planes quite considerably nose to tail. Whether it's the fold down seats to have you sleep across the favorite.

[Lisa Mateo]

Exactly.

[Lisa Abramowicz]

You've got kids. I wish I'd had that when I was anyway moving forward, moving along. Do you find that it's difficult to upgrade as quickly as you, you want because of just some of the delays in deliveries that we're seeing in certain of the aircraft?

[Bailey Lipschultz]

Yeah, you know we, we got ahead of it. We started ahead, you know, we ordered a lot of aircraft. We got ahead of the supply chain, you know, as being the first really back during COVID it we anticipated problems so we actually over ordered because we anticipate a problem. The problems have been bigger than we thought but we've mostly managed through those. And you know, like seat manufacturing, seats are big issues across the industry. We've mostly stayed ahead. We've been somewhat impacted by it, but we've mostly stayed ahead of that. And you know, even Starlink for example, you know we're going to have the whole fleet done. We expect next year. It can't be done fast enough. But by being the first big airline to order, like we're at the front of the queue and so Most of the things we're doing because we're at the front of the queue, we're much less impacted than other competitors around the globe.

[Lisa Abramowicz]

There were reports that you were talking about Rolls Royce a couple of minutes ago, talking about how they've been a problem in terms of just honoring contracts. And what exactly is the role in some of the delays that we're seeing, particularly with Airbus?

[Bailey Lipschultz]

Well, you know, engine, engines are really the issue. I think they're going to constrain supply around the globe for probably the next decade. There's not enough engine, engine capacity. There's something like 900 aircraft around the globe that are grounded right now that should be flying because they don't have engines that can fly. And it's a really, it's not an easy problem to fix and it's going to take time. And so really kind of we need all the engine manufacturers and really the forgings and castings that go into the blades, the engines are really, I think, the biggest constraint. And you know, that takes time to fix. But we start fixing that, you know, all the aircraft that Boeing and Airbus, they're going to be able to produce a lot of aircraft. I think they're both starting to get things on track for producing aircraft, but they're going to be producing gliders. It's just not enough engines.

[Lisa Abramowicz]

Gliders are not going to fly for the industry, quite literally. I cannot imagine that trying to have long haul flight on a glider. Do you think though that Rolls Royce has been a bad actor or not as much of a good actor relative to say, some of the others that have been ramping up?

[Bailey Lipschultz]

Well, that's certainly been our personal experience with United at Rolls and that's what I hear from others around the industry too.

[Lisa Abramowicz]

Is that constrained to Airbus deliveries more than Boeing?

[Bailey Lipschultz]

You know, they each had constraints, you know, Rolls, you know, has been constrained. Pratt and Whitney, you know, has had a lot of well publicized challenges. By the way, I respect Pratt Whitney is working really, really hard to fix it. And that's all you can ask, really. GE's doing, you know, the best of the engine manufacturers, but all of them have had challenges going forward.

[Lisa Abramowicz]

It seems like all of the airlines are trying to upgrade as quickly as they can because it is going to be about the experience, delivery to the customer that's going to determine success. How much have you seen the pressures kind of come into play, the sort of pressures in the industry that you had been expecting as a result of some of the higher prices?

[Bailey Lipschultz]

Well, I think we're the Ones creating pressure. To be honest with you, we're investing more than anyone and we're doing the kinds of things really that no one has ever done. You know, whether, you know, it's the relaxed row here in the United States putting Starlink on every airplane, but also the technology, like, you use the United app. It is materially different than, I don't know who has the second best app in the world, but they're way behind United. And we're just doing more and more that. And it just changes how it feels to fly. And it's remarkable. That's how you win brand loyal customers. When you change the whole experience, it's not just about the route, network, it's about the technology, the service, the reliability and the product. And you got to focus on all four of those. You got all four of those things to win customers. And, you know, it's been working really well at United. We're just continuing to push to find ways to invest more and more and more new creative ideas to make people think, hey, it's cool to fly United,

[Lisa Abramowicz]

are you still thinking about consolidation in any form?

[Bailey Lipschultz]

Well, everyone's asking me about it. You're still thinking about it, trying to take it off?

[Lisa Abramowicz]

Yeah, yeah. But we're putting it back on. So here it is. It's still on the table for you?

[Bailey Lipschultz]

You know, I, I, you know, I said it at a conference last week. You know, I kind of came for the last couple of years at least, thought that a big kind of transformative deal to take, create a great US Airline that could beat around the globe was really where the opportunity was. And, but I've always known that that would have required a willing partner and we don't have one. So I think it means that United is likely sitting out the consolidation game.

[Lisa Abramowicz]

Meanwhile, going forward, we got the best jobs report in a long time on Friday. And a lot of it was driven by leisure hiring. We heard that across the board. How much of this is coming from just the organic demand heading into summer? And how much of this is really being driven by World cup traveling?

[Bailey Lipschultz]

You know, World cup is a tiny, tiny piece of really is the fundamentals of demand. And you see it everywhere, that demand is strong. People are still investing in experiences. You know, I've told you before, like, to me, the economy, we're a really good real time barometer. The economy, the economy feels strong. The jobs report is consistent with like, I wasn't that surprised by the jobs report because it looks to me like the economy is doing pretty well.

[Lisa Abramowicz]

Do you think that oil prices will stay at this level and continue to be a challenge at a time when every airline executive here expects it to go down. Almost except for you. But everyone expects the prices to go down.

[Bailey Lipschultz]

I've thought so really since mid March, that that oil is going to be higher for longer. I continue to think that at some point I'll be wrong. It'll, it'll, it'll go down. But it's just hard for me to see any kind of outcome that the straits get reliably and sustainably open. They may open for a little bit, you know, but just the dynamics make it hard for me to think that that's going to happen. So I think this kind of 90 to $110 a barrel, you know, what do I know? I'm airline CEO. But we're planning for that sort of for the indefinite future, that 90, $210 level.

[Lisa Abramowicz]

Coming into this conflict, the baseline assumption was that if prices got to that level, didn't stay at that level, there'd be bankruptcies, you'd have a lot of difficulties in the airline industry. And certainly there have been pressures. Yeah, but the resilience of the consumer and the ability to absorb pricing has surprised everybody.

[Bailey Lipschultz]

Yeah.

[Lisa Abramowicz]

Do you think that that will be the likely response to a persistently high oil price? Not necessarily people going out of business business, but airline ticket prices going up and staying up.

[Bailey Lipschultz]

Yeah, I think airline prices, the consumer has been even more resilient. I thought the consumer would be resilient. It's been more resilient than I thought the consumer would be. So I think that will happen. But I also think, you know, you still look around like United, Delta and Southwest, by the way, are all three going to be solidly profitable this year? My guess is at all 90 to 110, like everyone else, is losing money, some. A lot of money. That means there's a big chunk of those route networks. You know, if you're losing money overall, there's a big chunk that's losing a lot of money. My guess is the longer this plays out, the more and more it sort of pushes executives to make hard decisions that they would rather not make, to just stop playing places that lose money going forward.

[Lisa Abramowicz]

Is there any place that you want to be expanding and just to sort of wrap it up in our lovely beach here that we're sitting at in Rio?

[Bailey Lipschultz]

You know, we want, we, we, we look forward to spend expanding really around the globe. A lot of our growth has been international. It slowed down this year partly because, you know, Boeing's been behind on wide body deliveries are starting to catch up, but we're looking for, you know, International has been great for us. United is born on third base for International with hubs in Newark, which is the best, you know, Pacific Gateway, San Francisco best, you know, Pacific Gateway, Newark. Atlantic Dulles is probably the second best Atlantic Gateway. So International has just been gangbusters for us and we're opening up, you know, it's crazy to me. Our team is opening up cities that and I'm pretty informed like I didn't actually know that city.

[Lisa Abramowicz]

Scott Kirby, always wonderful to speak with you, the CEO of United.

[David Gura]

Stay with us for more on Bloomberg this weekend, right after this.

[Bloomberg Audio Studios Announcer]

If you're feeling off fatigue, mood changes, skin shifts, yet your lab say everything's normal.

[Advertisement Voice]

You're not alone. Meet Oestra from Inner Balance, the first all in one prescription Strength Bioidentical hormone cream that's natural and effective and only takes one drop, 10 seconds a day. Oester replaces five to six products women typically use to treat symptoms and is third party tested to ensure the highest quality.

[Bloomberg Audio Studios Announcer]

Visit innerbalance.com today to start feeling like yourself again. That's innerbalance.com your pet is your bestie,

[Pets Best Insurance Representative]

your therapist, your perfect match. It's easy to love them. It's easy to protect them too, with pet insurance coverage from Pets Best because it's all fun and games until they chew on something they shouldn't and you get a vet bill to match. With perfect timing, Pets Best helps protect your furry friend and your budget from this imperfect world. Get up to 90% cash back on eligible vet bills from less than a dollar a day. Pets Best has plans to cover accidents, injuries and more, from puppies and kittens to senior. Find your perfect match plan and get a [e-mail] Pet insurance products offered and administered by Pets Best Insurance Services, LLC are underwritten by American Pet Insurance Company or Independence American Insurance Company for terms and conditions, visit www.petsbest.com. policy products are underwritten by American Pet Insurance Company, Independence American Insurance Company or Ms. Transverse Insurance Company and administered by Pets Best Insurance Services, LLC. $1 a day premium based on 2024 average new policyholder data for accident and illness plans. Pets age 0 to 10.

[David Gura]

Foreign

[Redfin Representative]

let's talk about modern home shopping. It's sort of become a fun side hobby, right Scrolling listings at night, dreaming about kitchens you've never seen or backyards you haven't even stepped foot in. All from the comfort of pretty much anywhere. Redfin knows a lot of people like you want to own but are stuck in this browsing mode loop. That's where Redfin flips the script. With listings that update within minutes and tours you can book right from the Redfin app, you can see your dream home the moment it appears. Now, liking a listing is easy, but actually landing it, that's where Redfin comes in. Redfin has over 2200 agents with local expertise and Redfin agents close twice as many deals as other agents. That means they want to help you win. Not just window shop. Redfin is built to help you go from just looking to wait. This could actually be home. So become the newest neighbor on the block. Visit redfin.com to start finding and start owning. That's redfin.com.

[David Gura]

All right, voters in Maine head to the polls on Tuesday and one name is dominating conversations about the primary there. Graham Platner. He's an oyster farmer running for Senate. He's facing mounting scandals.

[Christina Raffini]

Late last week, the New York Times published a report citing three women who had been romantically involved with the candidate, one of whom says he grabbed her in ways that left marks and he once locked her in a room. She also says he knew his tattoo resembled a Nazi symbol when he got it, something he has repeatedly denied. Platner has said his past is now being weaponized.

[Bailey Lipschultz]

Every single piece of that past and journey gets dug up, litigated and weaponized. You have my back.

[Christina Raffini]

You have my back, he said there. This is just the latest scandal for Platner. Last month there were reports he sexed with women while he was married. Joining us in studio is Puck News Washington reporter Abby Livingston, along with Ashley Koenig, the director of the Eagleton center for Public Interest Polling at Rutgers. Abby, let me start with you. Just give us the lay of the land in Maine. This is to pick the candidate who will go up against Susan Collins, long standing senator from the state of Maine. Yes, there has been this stream of scandals. We can talk about the degree to which they've worsened here, but with each one, it seems like there is a main population, at least of Democrats kind of inured to this, who find Senator Collins distasteful and are willing to look the other way in backing Graham Platner here in this race.

[Abby Livingston]

This is an absolute obsession within the highest levels of the Democratic Party. You look at Twitter, they're fighting about it. It's generally, and this is the, you know, Washington, New York political class and it's often falling along gender lines. But this is the most important Senate seat to Democrats. It's the easiest pickup. And yet it's been hard in the past. And there is in his, among his supporters a confidence that he's been able to get through this, he's been able to weather this. But the other folks are like, well, hey, the Republicans haven't had their chance to just dump a nuclear bomb of advertising against him. And so I think the biggest question right now is what else is out there? And nobody seems to know what they don't know.

[Christina Raffini]

And all the while, Janet Mills remains on the ballot, if I'm not mistaken.

[Abby Livingston]

That's correct. And it's, I mean, it seems unlikely that she would prevail on Tuesday. And Platner and this, the decision makers on this are the main voters and they seem to be sticking with him. But the question is Maine is an older state and many of the voters are older women. Are they going to go along with all of these allegations?

[David Gura]

Ashley, what's your take on that? Because we do have some updated polling and it does seem that when you put at the moment Platner and Collins up head to head, Platter is, is ahead by like five points. You know, it's within the march of error there. But what is your take? Is it just that anyone but the person we've got, we've seen that sometimes on the other end, especially with people backing the president, no matter what he does or says, you know, staying loyal to that. Is this kind of the same thing, but from the Democratic side?

[Ashley Koenig]

You know, this race was supposed to be about Collins. This whole race was supposed to be about her. And really now it's going more towards Democratic viability and that tension between the two factions in the Democratic Party of progressive versus the kind of, you know, moderate middle lane. And so we really see that gap, and we haven't even had the primary yet. We do see that gap between him and Collins tightening for the general ballot in November. So that should be somewhat of a warning sign leading into the primary and especially leading into the general in terms of is this candidate still going to be viable and a surefire win against Collins as we head into November.

[Christina Raffini]

Abby, I'm curious what this means. You mentioned sort of who's making the decisions here. Yes, it's the main electorate, but you have Chuck Schumer, who made no secret of the fact that he wanted Janet Mills, the governor of the state, to be the candidate going forward. Talk a bit about his kind of relevance in picking candidates for these races. We just went through a round of primaries last week in which a candidate that he had anointed or backed. Did, did win. What does that tell us? What does this race tell us about Washington politicians having the capacity and yes, money to back primary candidates in these races?

[Abby Livingston]

Candidate recruitment is why Chuck Schumer is in the position he's in. This has been his forte. He has won many Senate seats that Democrats have had no business occupying based on his recruitment in these states. And he's had successes this year. North Carolina is obviously one of them. But on the other hand, Michigan and Maine are absolute messes for the recruits. He did not have. He has preferences in these primaries, but they have not. They are struggling and it is unclear whether they will get through. I mean, Janet Mills isn't going to

[David Gura]

get through, of course.

[Pets Best Insurance Representative]

Yeah.

[Abby Livingston]

So this is. He still has some of the juice, but it may cost, but not everywhere.

[David Gura]

All right, Ashley, we want to turn to the other end of the country now because votes are still being counted in California, but it looks like in the governor's race, it's going to be Javier Becerra. He's, he's clinched a spot in the General. Hilton and Steyer are battling it out for number two. And then you've also got the LA Mayor's race. You've got Karen Bass. It looks like she's making it to the general. Spencer Pratt and councilwoman are about a percentage point apart. These are tight races. And so some Republicans are trying to figure out where they stand. Where do you see this turning out and where are the winds kind of pushing in favor of which candidates?

[Ashley Koenig]

You know, I think when it comes to the governor, that Democrats did avoid the possible scary situation of a Republican taking that top spot. So, you know, Democrats did dodge a bullet over there with the governor. But also we have to remember that these kinds of elections, they will take time, especially when we see narrow margins like we do with Pratt and Rahman, because it will take time to count those mail in ballots. Apparently, many of those ballots came in very late towards primary day and so that's going to take time to count, unfortunately, feeding a little bit of that kind of election security and, you know, election falsifying storyline that we know of, but that storyline is not going to go away as we head into the midterms.

[Christina Raffini]

Abby, let me image just by asking you about this affordability issue, we've talked about it before when you've been here, the degree to which it's animating voters. Our colleague Annmarie Hordern was traveling with the president to Wisconsin, back to Bedminster, and she asked him during a colloquy with the President in the aisle of Air Force One about affordability in the context of these sporting events that we're waiting for. The game three of the NBA Finals, the World cup.

[David Gura]

FIFA.

[Christina Raffini]

FIFA, yeah. Let's take a listen to what he had to say.

[David Gura]

Sheenbus price for the game three you're going to is $8,000 everyday. Americans can't afford these sports.

[President Joe Biden]

Well, I know, but, but they can watch it on television. It's sort of semi free to watch it on television. But that's the way life goes. You know, you have some. And now if the game wasn't a big, if the team wasn't a big success, you could go very easily. So you know you can, you could do that too. But that's the way life is.

[Christina Raffini]

We got about a minute left, Abby. But that's the way life is. That's the way life goes strikes me as another watch Semi, semi free. These are soundbites that you have to imagine. His advisors are not glad to hear as Americans are struggling with higher prices.

[Abby Livingston]

I mean he's now at a montage level with this. I mean you've got the like little girls don't need doll. As many dolls this Christmas.

[Christina Raffini]

I've forgotten that.

[David Gura]

Yeah, I had two. Yeah.

[Abby Livingston]

I mean there's a succession of them. And I think the biggest that worried about oil prices. Exactly. And I think the biggest struggle here for Democrats is which ones to pick to use in the ads. They have a glut of choices.

[David Gura]

All right, Abby Livingston, you are of course with Puck News. We're glad you're here. And Ashley Cunningham, I'm sad you couldn't be here in person, but we're always happy to have you at Eagleton center for Public interest Polling.

[Lisa Mateo]

Stay with us for more on Bloomberg this weekend right after this.

[Bloomberg Audio Studios Announcer]

If you're feeling off fatigue, mood changes, skin shifts, yet your labs say everything's normal.

[Advertisement Voice]

You're not alone. Meet Oestra from Inner Balance. The first all in one prescription strength bioidentical hormone cream that's natural and effective and only takes one drop, 10 seconds a day. Oester replaces five to six products women typically use to treat symptoms and is third party tested to ensure the highest quality.

[Bloomberg Audio Studios Announcer]

Visit innerbalance.com today to start feeling like yourself again. That's innerbalance.com protect your pet with insurance

[Pets Best Insurance Representative]

from pets best plans start from less than a dollar a day. Visit petsbest.com Pet Pet Insurance products offered and administered by Pets Best Insurance Services LLC are underwritten by American Pet Insurance Company or Independence American Insurance Company for terms and conditions, visit www.petsbest.com. policy products are underwritten by American Pet Insurance Company, Independence American Insurance Company or Ms. Transverse Insurance Company and administered by Pets Best Insurance Services LLC. $1 a day premium based on 2024 average new policyholder data for accident and illness plans. Pets age 0 to 10 let's talk

[Redfin Representative]

about modern home shopping. It's sort of become a fun side hobby, right? Scrolling listings at night, dreaming about kitchens you've never seen or backyards you haven't even stepped foot in. All from the comfort of pretty much anywhere. Redfin knows a lot of people like you want to own but are stuck in this browsing mode loop. That's where Redfin flips the script. With listings that update within minutes and tours you can book right from the Redfin app, you can see your dream home the moment it appears. Now, liking a listing is easy, but actually landing it, that's where Redfin comes in. Redfin has over 2200 agents with local expertise and Redfin agents close twice as many deals as other agents. That means they want to help you win, not just window shop. Redfin is built to help you go from just looking to wait. This could actually be home. So become the newest neighbor on the block. Visit redfin.com to start finding and start owning. That's redfin.com.

[David Gura]

Welcome back to Bloomberg this weekend or btw, I can't even fight with you today.

[Christina Raffini]

I'm going to say I've had enough.

[David Gura]

Btw, I'm Christina Raffini.

[Christina Raffini]

I'm David Guerrero. Lisa Matteo here with some more stories you may have missed over the course of this week. And I'm going to go out on a limb. Maybe there is something related to the New York Knicks in the mix.

[Lisa Mateo]

There is New York Knicks and Elmo.

[Christina Raffini]

What?

[Lisa Mateo]

If you're saying what. Okay, listen up. This is from the Athletic and a number of other places everywhere. Knicks fans by also wishing spurs well in NBA Finals. Pick a side, coward. Okay, so this is about. Yes, I'm just reading the headline. Okay, I got a little emotional there. I know. Lovable Muppet, right? You love Elmo. Loves him. So what?

[Christina Raffini]

He did. Elmo loves you.

[Lisa Mateo]

Yes. As he always says. You know, he's from Sesame street, which is apparently based in New York.

[Christina Raffini]

Apparently. Definitely.

[Lisa Mateo]

Yes, definitely. Okay, so he wrote. Yeah, here's the issue. This is what he writes on X.

[Abby Livingston]

Elmo hopes both teams have fun.

[Lisa Mateo]

Okay.

[David Gura]

So he wished both teams luck.

[Lisa Mateo]

Basically wished both teams luck. So he got blasted on social media. Okay, you have the New York City department of transportation, jokingly threatening to take away the sign that they put out there to celebrate their 50th anniversary. Yeah. They said, take. Don't make us take it down.

[David Gura]

So they were amazing. I mean, someone called him an apologist puppet, which I thought was really funny. So many comments. NYPD said, just like in Times Square, we think this Elmo is an imposter. I mean, the city is not messing. This is what I've learned. The city is not messing around.

[Lisa Mateo]

So. So what does Elmo. Right. If you're Elmo, what do you do? You have to come up with a response, right?

[David Gura]

Yeah.

[Lisa Mateo]

So Elmo came up with a response, and he said, nix that last message. Elmo didn't mean to spur on you.

[David Gura]

All right, so Nick's the last message for those of us who couldn't understand Lisa in her voice. Elmo didn't mean to spur you on.

[Bailey Lipschultz]

Oh, I see.

[David Gura]

Spur you on. See?

[Lisa Mateo]

So, yes, he gives. Realized his mistake. Yes. Because Elmo is from New York.

[Christina Raffini]

Yes.

[Lisa Mateo]

Elmo, you're from New York. So you gotta pick a side.

[David Gura]

This account. Do you guys remember when Elmo tweeted, I just want to know if everybody's okay or something like that During a pandemic or something? No, it was just like, maybe a year ago or so. Just like Elmo wants to know how everyone's doing. And the responses were like, people.

[Lisa Mateo]

People were sad.

[David Gura]

Yeah, people were sad.

[Christina Raffini]

So I, like, heretofore didn't know that Elmo was like a tweeting thing.

[David Gura]

Oh, yeah. Almost worth a follow.

[Christina Raffini]

Worth of follow.

[David Gura]

It's all.

[Lisa Mateo]

Has a lot of followers.

[David Gura]

Be nice to Alma, guys.

[Christina Raffini]

Lisa, thanks also for the gusto with which you did those readings. I was not expecting, and I thought it was pretty amazing.

[David Gura]

No words.

[Lisa Mateo]

Okay, let's.

[Christina Raffini]

We're going to have her do the PGA update in that voice and.

[Lisa Mateo]

Or the tennis update. Okay, Travelers. This is from Bloomberg. Travelers spending $20,000 up front to never see a bill on vacation.

[Christina Raffini]

This is something Christina's told me she does a lot.

[Lisa Mateo]

All inclusive. Are you the all inclusive girl?

[Christina Raffini]

She's all about

[David Gura]

fake news. Continue.

[Lisa Mateo]

This is. Okay, so for one, they're saying it's a good deal. For two, they're saying you're not stressed out about the big bill at the end. Because if you don't go to all inclusive and you have, like, a lot of kids like David, and then you get the bill at the end. And you get the bill at the end, and you're like, where do all these smoothies come From Yes. Then you don't have to stress about that. If it's all inclusive, it has a

[Christina Raffini]

funny effect if you do this. I haven't done it much. It did at Disney World, which you already. I stress before you go there. But then you have feel like you're compelled to, like, eat everything because you

[David Gura]

want to get your money's worth.

[Christina Raffini]

Absolutely. Which is impossible to do, but I will avail myself of the extra dole whip or whatever I can get.

[David Gura]

Wait, so you can play a. You can pay a flat fee for food and drink at Disney World?

[Christina Raffini]

It's not all inclusive. Some of the resorts you can get, like the club.

[David Gura]

The resorts.

[Chase Business Representative]

I got you.

[David Gura]

I got you. Okay.

[Christina Raffini]

I'm hearing in my ear a lot of pushback.

[George Ferguson]

No, no.

[Lisa Mateo]

Well, how much would you. You pay for that? All inclusive? Because some of these you have to pay $6,000 a week for a couple. Some go as high as 20,000 a week. Because the story behind this is that they're luxury, all inclusive. So you get the private butler, like, you get all that. Who comes?

[Christina Raffini]

Tell us about that. What's it like? I mean, I haven't experienced it.

[David Gura]

What are you doing? To me, the woman who has no travel plans because she's too cheap to book a ticket. I will say I do get very stressed about spending money on vacation. No matter how much I tell myself, you have this much, just spend it. It would be nice to do it up front and know, like, you can just have the most fun and not have to stress about it. That is a consequence.

[Christina Raffini]

Probably get a massage if you're that stressed about it on vacation. But to add to that, I don't know if that's all inclusive.

[David Gura]

I'm going to get several, but then I'm going to get stressed about not tipping enough. But still, that's enough of the all inclusive.

[Christina Raffini]

I feel like there's a rule against that.

[Lisa Mateo]

Is that true against tipping if it's all inclusive? No. Because if you do, no cash can change hands. No, you can cash tip the bartender and they bring you bottles, even if it's all inclusive.

[David Gura]

Lisa seems to be the expert on this. Don't give me shade.

[Christina Raffini]

Directed this at you.

[David Gura]

Yeah. Mateo down at the end of the table has the inside scoop.

[Lisa Mateo]

I think we should move on. Okay. This one is about luxury, too. This is luxury living. Okay? Forget about rooftop pools, private dining, celebrities, chef restaurants, okay? What people want in their luxury condos are longevity services. Okay. They want MRI in their luxury condo. Okay? So what's happening is that these residents in the city, they're leasing commercial space to these high end longevity companies. For example, one high line big, you know, 3 million to $30 million or the condo prices, fancy ones.

[David Gura]

I would love to love their idea.

[Lisa Mateo]

So they have Atria Health and Research Institute there and you can go and you can be a part of this.

[Christina Raffini]

So it's a selling point for MRI with a view. Boy with a view. The dream we've all had.

[David Gura]

First of all, MRIs have no view, but I guess you can wave at it on the way in. Yeah, I mean, I understand part of justify this. No, absolutely not. Absolutely not. But it is nice to have access to some wellness amenities, right? You're seeing like more spas go in and saunas and things like that.

[Christina Raffini]

I don't know if cold plunge.

[David Gura]

I did pay extra to have access to a cold plunge.

[Christina Raffini]

Really?

[David Gura]

You did the cold plunge at my gym. I paid the extra amount to have access to it.

[Lisa Mateo]

And you survived?

[David Gura]

I'm usually the only girl in it, but I do like a cold plunge. That is true. You guys have a cold plunge?

[Redfin Representative]

No, I have not.

[David Gura]

Okay, so we're all going on our workout field trip. Remember you said you weren't coming to Pilates with us, David, but you're gonna come come to Pilates and we'll do the cold plunge and we'll report back.

[Lisa Abramowicz]

It'll be great.

[Lisa Mateo]

Can we do a hot tub instead?

[Christina Raffini]

I don't like cold plunge. Stay tuned everyone. See if I in fact do that.

[David Gura]

Thanks for joining us on today's Bloomberg this weekend podcast. Don't forget to tune in live for the show every Saturday and Sunday morning starting at 7am Eastern.

[Christina Raffini]

We're on Bloomberg Television Radio and the Bloomberg business app bringing you unique takes and in depth interviews on news, politics, lifestyle and culture.

[Bloomberg Audio Studios Announcer]

If you're feeling off fatigue, mood changes, skin shifts, yet your labs say everything's normal.

[Advertisement Voice]

You're not alone. Meet Oestra from Inner Balance, the first all in one prescription strength bioidentical hormone cream that's natural and effective and only takes one drop, 10 seconds a day. Oester replaces five to six products women typically use to treat symptoms and is third party tested to ensure the highest quality.

[Bloomberg Audio Studios Announcer]

Visit innerbalance.com today to start feeling like yourself again. That's innerbalance.com here's the truth.

[Shiba Cat Food Advertiser]

You could literally be adored by everyone and then come home and still get completely ignored by your own cat. It's classic cat behavior. But new Shiba Premium Puree is a lickable treat that changes all that. They're protein rich, made with bone broth and have the smooth, creamy texture cats go crazy for, especially when it's hand fed. Yeah, it's more than a treat. It's a fast pass to favorite human status. So feed your cat Sheba and go from totally ignored to truly adored in just 12 days guaranteed or your money back.

[Bailey Lipschultz]

Learn more at Shiba.com M&M's Popped Caramel do sound different.

[The Hartford Insurance Representative]

Oh no. People are going to be obsessed.

[Bailey Lipschultz]

What do you mean? People hate the sound of chewing. Maybe they won't like the crunch. Maybe we're saved. Wait a minute. Yellow.

[The Hartford Insurance Representative]

Have you been eating them this whole time?

[Bailey Lipschultz]

So tasty.

[The Hartford Insurance Representative]

Hands off us.

[Bailey Lipschultz]

Eminem's popped caramel. It's more fun together.