SpaceX Pounces on $60 Billion Cursor Takeover Days After IPO

Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu-Seth Fiegerman, Bloomberg AI Team Leader, discusses SpaceX agreeing to take over Cursor in a deal that values the startup at $60 billion, part of Elon Musk's efforts to catch up with rivals on coding tools. The deal is expected to close in the third quarter, with Cursor investors having the right to receive SpaceX stock based on the implied $60 billion equity value of the startup.-Gautam Mukunda, Lecturer at Yale School of Management and Bloomberg Opinion contributor, discusses his Bloomberg Opinion column: “Trillionaires and Republics Will Be a Toxic Mix.” SpaceX’s initial public offering made Elon Musk the world’s first trillionaire, giving him absolute power. A mega-billionaire has resources that approach or exceed those of many nation-states and can convert their wealth into power. The exchange rate between wealth and power has never been so favorable, with some individuals spending large sums on presidential elections and having significant influence over government decisions.-Poonam Goyal, Senior U.S. E-Commerce and Retail Analyst at Bloomberg Intelligence, discusses how AI is pushing US e-commerce into a new growth phase. According to Bloomberg Intelligence: Amazon.com's Prime Day will be an early test of whether AI-driven shopping and bargain hunting can coexist. As inflation, higher gas prices and tariff-related costs keep consumers focused on value, Bloomberg Intelligence's fifth annual proprietary survey suggests shoppers are entering the June 23-26 event seeking deals with convenience and delivery speed defining Prime's core appeal.-Michael Halen, Bloomberg Intelligence Senior Restaurant and Foodservice Analyst, discusses Yum! Brands selling its Pizza Hut division for $2.7 billion to focus on its KFC and Taco Bell chains. Private equity firm LongRange Capital will acquire Pizza Hut excluding China for $1.5 billion, and Yum China Holdings Inc. will buy the rest for $1.2 billion. See omnystudio.com/listener for privacy information.