tv Bloomberg Technology Bloomberg June 22, 2017 11:00pm-12:01am EDT
alisa: i am a alisa parenti from washington. you're watching "bloomberg technology." let's start with a check of your first word news. president trump says the obamacare era is over. he criticized his predecessor's signature legislative achievement at a meeting. president trump: obamacare is a disaster, totally dead. we are putting in a plan today that is going to be negotiated. we would love to have some democrat support. but they are obstructionist, they won't support. we won't get one, no matter how good it is. we will hopefully get something done, something with heart, and very meaningful. alisa: democratic leaders are slamming the bill, arguing millions stand to lose coverage.
house minority leader nancy pelosi described it as mean and heartless. senate democratic leader chuck schumer echoed pelosi, saying millions will be kicked off medicaid in three years. former president obama weighed in, called it a massive transfer of wealth from middle-class and poor families to the rich. he said senators on both sides should deliver what the american people need. president trump tweeted today he does not have tapes of his conversations with former fbi director james comey. an earlier trump tweet indicated tapes might exist. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i am alisa parenti and this is bloomberg. "bloomberg technology" is next. ♪
emily: i am emily chang. this is "bloomberg technology." drone diplomacy at the white house. highlights from president trump's meetings with tech executives and their advice for -- to him on what is to come. plus, a new era at uber. the final moments leading up to travis kalanick's resignation. which investors were responsible for the ouster, and why. and the hero prepares to go public. we are at the noah internet conference in berlin with one of its biggest investors. first, to our lead. president trump continues to welcome u.s. tech leaders this week to the white house as part of an initiative to get the government equipped with the latest technology. today's meeting was around emerging technology like drones and iot, or the internet of things. among attendees, at&t ceo
randall stephenson, and venture capitalist steve case. , president trump's main message, remain number one in technology. for more, i want to turn to toluse olorunnipa. he covered the meeting for bloomberg in washington. what was the main takeaway from the drone meeting today? toluse: the president wanted to talk specifically about how to make sure america is number one in emerging technology. including the drone industry. there were several ceos from drone companies and the president got to see some of these drones in action. usually we hear the president talking about the need to get rid of regulations. some of these drone company ceos said the white house and federal government need to put in appropriate regulations for the drone industry so they can expand. the president was hearing some messages from various ceos about how to keep the u.s. number one in various emerging technologies, because other countries including china, are pushing ahead with some of these technologies. that was something the president
listened to and said he was willing to accept recommendations and move forward. emily: shortly after this meeting with the tech ceos, trump posted a tweet confirming he does not have tapes of his conversation with former fbi director james comey. i wonder, is the message from tech week getting lost with everything else going on? toluse: that is a great question. this is supposed to be technology week. the president had a meeting with top ceos. but after the meeting he went on twitter and stepped over his messaging, talking about tapes and this mystery that has been delayed over weeks and weeks after he originally tweeted james comey should hope there are no tapes of the conversations between those two gentlemen. now the president is saying he did not release any of those tapes. he raised more questions over whether there are other types of illegal surveillance going on within the white house and the west wing.
the president did seem to step a little bit on his message. i believe the white house wants this to be tech week and wants people to focus on what the president is doing about technology. his use of technology with twitter is getting in the way of that a little bit. emily: i can't let you go without asking about the other big topic in washington this week, the health care bill. and us about the momentum the chances you see for this actually passing. toluse: this bill has been crafted behind closed doors. they were finally able to put out a draft version. they are running into trouble because they only have 52 republicans and need 50 to vote for the bill. there have been several republicans on the conservative and moderate side that are not happy with the bill as it stands. they want to vote on this in the next week, but it looks like they have an uphill climb. the president even saying the bill needs to be negotiated, they need to make changes before it is ready for his signature. it is interesting to see if republicans can rally around the bill at some point, make changes, and get 50 votes.
it will be a tight margin if they are able to do it in the next week. that is the timeline they are looking at. emily: thank you so much for that update. for more on this drone meeting with president trump, we're emily: thank you so much for that update. joined by kespry ceo george mathew from washington, where he attended the meeting. he develops drone hardware and software services. give us some color from inside the room and how it all went down. george: good afternoon, emily. it was a great meeting to spend time with this administration. the focus of the administration and this specific area of american leadership in emerging technology was to drive into three key aspects of emerging technology. one was drones, another was a 5g, another was iot. the context of the drone discussion was around three seminal areas -- where regulatory policy stands and how
to drive efficiency in terms of regulations. second, technology innovation that occurred in the drone space. of course, the safety and security surrounding drones. we had an ability to spend time with the president and administration, discussing these key areas, and dive into the details in terms of how this continues to evolve, the commercialization of the drone market. emily: we have video of you showing a drone to the president. what was president trump's mood in general, and his level of interest and knowledge of drones? george: he was very focused on the topic. he was very much aware of the conversation that was emerging in the drone space. we had an opportunity for the first time, to bring a drone into the white house, and walk through the kespry use cases. we have been focused on industrial use cases where construction engineering,
insurance, mining and aggregates companies can take advantage of analytics generated from the drone we built. manufacturing this drone in the united states and being able to provide a full cloud infrastructure that supports our users, and being able to introduce one of our construction users to the president, was quite a seminal moment for kespry and the drone industry. emily: did trump give indications of his plans for supporting technology going forward? whether it is for consumers in general use or the military? george: we really spoke on the commercial aspects, at least for kespry's industrial use cases. the entire focus for this working session was on commercial use of drones. it was interrelated in the fact that iot and expansion of 5g broadband is defining where the future of these technologies are going to go. in my view, the drone is the new sensor network. the interrelationship of these
topics was quite seminal for us to have this discussion with this administration at this time. emily: there continue to be safety concerns around drones. what was your message to that for president trump? george: the industry itself is focused on safety and self-regulation. if you think about kespry today, we have hundreds of drones of flying autonomously throughout the country and world. we have over 25,000 flights we have safely and securely done. we have actually been one of those key players in terms of being able to autonomously drive the safety and security of these commercial use cases that we have been focused on. at least in kespry's case, we have not had concern over the need to pull the rate safety -- the right safety levers in place as regulation continues to evolve. we are considered one of the good actors. of course there are bad actors , in the middle of this.
that is where the focus and attention particularly from a , security standpoint for drones, should continue to evolve. emily: what are the next steps, especially when it comes to the faa? george: it was one of the big pieces of regulatory structure we talked about. as of becoming the law of the land in october 2016, we have a framework to operate in. the drone has to fly below 400 feet of air space, it has to remain within line of sight, you have to have that part 107 exam passed. if you are flying outside of kespry airspace, you have to get a waiver, and that is perfectly normal. the challenge is, a waiver today is a manual process that takes over 90 days for anyone to get a waiver to commercially fly in u.s. airspace. that is a huge challenge. it is not a question of whether the regulation is right, it is a question of how to automate what is already in place for regulation. emily: even before the meeting
started, steve case, the venture capitalist, posted about deflecting criticism he was attending this event at all. why did you think it was important to go visit president trump? george: on a personal basis i thought about that quite a bit, considering my friends close to me in silicon valley, and the politics surrounding this current administration. but this was about policy, understanding how to progress forward in terms of commercialization of the drone space. in that regard, we had an opportunity to represent not only kespry, but the entire sector in this discussion. we were delighted to see this administration and ideally future administrations continue to push forward in terms of driving this innovation around american technology. emily: kespry ceo george mathew in washington, just out of a meeting with president trump. thank you for joining us. the world's largest manufacturer
of iphones is preparing to invest $10 billion in the u.s. foxconn next month will begin with a decision on where to build a $7 billion display-making plant. there are seven states in the midwest where the factory could be built. they could create tens of thousands of american jobs. coming up, we go behind the scenes at uber after travis kalanick steps down. breaking down the shifting power in the board room, plus a campaign by employees to bring the controversial ceo back. bloomberg tech's live streaming on twitter, check us out. this is bloomberg. ♪ emily: master co-founder sean
parker has stepped down from spotify's board of directors. he was an early spotify investor, joining the service in 2010. plenty of heavyweights will remain at the company. including former disney ceo, padma warrior. the world's largest music streaming service will go public on the new york stock exchange this year. new developments in the wake of travis kalanick's exit as uber's ceo as the ridesharing start up tries a new chapter, we have new details behind his abrupt exit. potentially more shakeups to come. eric newcomer joins us now. we have been getting more and more details about how exactly this happened. two investors flying to chicago to deliver him a letter. how what was precipitated. tell us what we know now. gurleyt goes from just in the mix, to others. gurley left his two partners,
peter and matt, flight to chicago to meet travis at the ritz and hand-deliver him this letter telling him, we and other investors want you to resign. got these gurley investors on board, correct? eric: yes, the letter is what got travis out. emily: what was it that convinced them this was the right decision, after all these years? eric: there is so much. this indian rape case troubled a lot of people. the handling of waymo came up and it. there are legal issues at play, too. uber just hired a law firm to defend itself in the civil case and investigate what happened in the indian rape and the handling of the woman's medical records. that was a very troubling allegation. so many of them for so long may have pushed it over the edge. emily: another big issue according to my sources, was
that travis kalanick scuttled any potential plans to bring in new talent. he would intimidate coo candidates in interviews and they would walk away saying, i can't. i can't work here. eric: he wanted to be the central hub of the company. of finance was very effective, but was not very senior. travis resisted bringing in a serious cfo. similarly, concerns about the coo that he was supposed to and whether he would get high-caliber talent that would draw attention away from him. emily: he wanted to clear the way for new leadership, a new ceo, and start fresh. there is a board meeting happening today. we know anything? eric: it should have just ended or is ending. we're still waiting to see. i expect david trujillo should be there.
the board is changing, even though the firms are staying the same, the names are changing. it'll be interesting to see if some join it. this eight person board needs more people. emily: there are still independent board seats open, right? eric: right. the board has approved an independent chair. a new independent needs to join. i think eric camp is on the board. he wrote a letter saying they need board members. i think they will fill this out some. emily: eric camp is founder of uber and current chairman of the board. need board members. there is a petition signed by employees requesting travis be reinstated. eric: at last check, 1400. that is 10% of employees. very upset travis is gone. recognizing his flaws, but they really bought into the message
of, travis can reform and come back. he is so core to the identity. emily: any chance he can be reinstated? eric: very unlikely. he is on the board right now. i think the question is, could he have another role -- it is not clear. becoming ceo is very unlikely. emily: there are new allegations travis kalanick knew that anthony levandowski stole files from alphabet a year ago. what do we know about this? eric: we are still learning. that came from waymo. a lot of questions will be asked about what travis knew, when. it will be a continuous theme as we go forward, figuring out why he would buy this company where it seems like in retrospect, there were so many red flags. emily: interesting. i know you will get right on the
phone after this for new information. thank you. emily: we bring you an exclusive interview with a rocket internet's oliver samwer, what he says about delivery heroes ipo and of the european tech scene. check us out on the radio, the bloomberg radio app, bloomberg.com, and sirius xm. this is bloomberg. ♪ emily: large european companies
meet startup founders at the national -- international noah conference in berlin. excitement around a food startup, delivery hero. caroline hyde caught up with a -- one of europe's most famous investors rocket internet's , oliver samwer. rocket owns a 35% stake in delivery heroes? samwer must be eagerly awaiting germany's biggest ipo of the
year. caroline: it is crucial for rocket internet. it is not since 2014 we actually saw a success story from portfolio companies exiting. that was alando, back in 2014, when rocket went public. we have seen the shares up some 15%. they have a lot of proving to do to the market. we are expecting an ipo in excess of $1 billion. a nice chunk of change to their -- to rocket internet and their own investor base. i spoke to oliver samwer and this is what he had to say. oliver: i think it is great for europe because it is a great example of european entrepreneurship. the team has done a fantastic job. there were 5000 people. i hope it will inspire many
other european entrepreneurs to take their company public and build bigger businesses, create more jobs, and show other people that big companies can be traded here, too. caroline: how much advice have you given? you are an investor that knows what it is like to go public. oliver: we bet first on entrepreneurs. we want them to make the decision. at the same time, we're also there for advice. we talked a lot on the ipo. we basically provide lessons on what has gone right, wrong, how to handle investment banks, lawyers. there are hundreds of small details. if this company goes public, it will be their success, and i want it to be their success. caroline: what about the other portfolio companies you have? there is an aim now for you to ensure they potentially become profitable, is that the way they want to see startups now?
there is a dialogue change, we do not want to be just revenue growing but bottom line-growing, as well? oliver: the number one priority for all the companies is to reach scale. the critical scale it needs to break even to get the operational leverage. companies have been operating for many years and i think are very close to the scale. management will decide what scale they want and when they want to engage stronger in the path of profitability. i think they make tremendous progress. what exactly, will be their choice. i encourage companies to think long-term and make the right choices for the long-term, as many successful companies have. caroline: where to put money to work for you? what excites you, can you break it down by sector? oliver: we started in consumer, moved to software. now we say all sectors. anywhere you can find really good entrepreneurs.
we also do artificial fintech,nce, e-commerce, travel b2b, we look , at autonomous driving, mobility. we try to find amazing entrepreneurs in all sectors, and to back them. emerging entrepreneurs and emerging technologies. that is what we're looking for. caroline: that was my exclusive interview with rocket internet ceo oliver samwer. later this hour we will bring you more highlights from the noah conference in berlin. with interviews from blockingchain ceo and others. emily: thanks so much. we will get back to you. forther news, jd.com paid an alliance between china's second-largest e-commerce player and the online fashion shop. trying to boost itself in one of the largest growing markets.
and 12:29 p.m. in tokyo. i am paul allen with the latest first word news. associated press the saudi arabia and other nations are demanding qatar cut ties with iran to end isolation. they also say the saudi-led bloc has given doha 10 days to shut down its broadcasting network and cut down a trading network. quant wants to end the 18 day diplomatic crisis. north korea is said to have carried out another test with internet -- intercontinental ballistic missiles.
it happened where previous test had taken place. earlier this month, pyongyang said it would not fire to deliver a nuclear missile to the u.s. mainland. the latest drill with a japan failed to shoot down a dummy missile. indian prime minister narendra modi heads to washington next week, hoping to persuade president trump to extend the visa program that has allowed i.t. companies to send a skilled workers to america. explain howmpt to the schemes help both countries. the indian i.t. trade body says at three quarters of america's top 500 companies use indian services. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. bloomberg. i am sophie kamaruddin with a check on markets. asian shares looking mixed today, ending the week on a lackluster no. it was a roller coaster ride. dream came true and
entered oil bear category -- territory. this one down 0.4%. onulators poured cool water the potential for chinese stocks to join in the emerging market rally. japanese stocks trading higher, 0.1% after this morning session. other shares slightly ahead of the cpi. those are due later this afternoon. the hang seng said to snap a three-day drop. these lead the laggards after going to macau grew only 3.7%. we have the likes of china resources and gas firms in china higher, jumping the most since 2009. regulators clear the air after uncertainty they see in the industry. these shares jumping as much as 9%. shenzhen climbing in hong kong.
a zynga pair-based warehouse operator said to be in talks to join -- it has been growing warehouse property in hopes to boost its logistics business. ♪ emily: this is "bloomberg technology," i am emily chang. facebook ceo mark zuckerberg has written a new mission statement to give people the power to build community and bring the world closer together. at an event in chicago, he rolled out new tools for group services in order to further engage its users. >> we have to build a world where every single person has a sense of purpose and community. that is how we are going to bring the world closer together. we need to build a world where we care just as much about anyone -- a person in india, china, mexico, nigeria, as much as a person here in chicago.
emily: we're joined by david kirkpatrick, from techonomy. what is your reaction to this change in mission statement? david: there has been a lot happening at facebook recently in talking about themselves differently. i think they are unbelievably responsive to the growing concerns that have been developing about the social impact of their business, starting with fake news and facilitating terrorism and other problems people are accusing them of contributing to in society. many accusations have some validity. they are working very hard to say, yes, we are open to talking about that. today, they are trying to underscore the truly positive impact facebook has in people's lives. by talking so much about these communities and specifically emphasizing that facebook's
new mission is to bring more community to the world, they are trying to remind people that for all the problems, facebook has a lot of truly positive impacts in the world. emily: how do imagine our facebook experience, and using the product actually changing as a result of this? david: that is a good question, and i do not know. probably not that much in any dramatic way. certainly, he is emphasizing more this idea of groups. all of us will be encouraged to be part of private and public groups, more than we are now. they say 100 million people are in the groups today. that is a relatively small percentage of groups that are truly socially significant. a small percentage of their almost 2 billion users. suspect they would encourage us to aggregate more in true conversation. when he says something, he means it. he does not mess around.
emily: mark zuckerberg was one of the first founders, along with google, to perpetuate the idea of the cult of the founder, the dual class shares, consolidate power. now we see travis kalanick, ceo of uber, resigning, who had a similar amount of power. what do you make of travis kalanick stepping down? david: i think travis kalanick needed to step down. clearly, uber has committed tremendous errors and really offended the world in so many ways, that they had to come up with some sort of reset. it is ironic to me, thinking that somebody like travis kalanick, clearly an opportunist and a very aggressive and a visionary of a sort, but not a very ethical or morally minded person, should take his cues
from zuckerberg -- whatever you say about him, he is unbelievably ethically and morally centered. he is a unique character. it is very dangerous to think if you are starting a company you should model the way you do it after the freedoms and powers that zuckerberg got because he really had the capacity to live up to those powers. he is a very responsible steward of facebook. the things you hear repeatedly happening at uber you never hear happening about facebook. the worst you hear about facebook is that they do not have enough women executives and minorities. i know that is real and something you care about, i care about it, but it is nothing like repeatedly breaking the law heedlessly making threats, , stealing intellectual property, all kinds of horrible things uber did. emily: travis had a hard time bringing in other high-level executives into the company.
the sheryl sandberg of uber, for example. we see a successful partnership between mark zuckerberg and sandberg now, but people forget they were previous executives at facebook they did not work out. how did zuckerberg handle that transition in the power dynamic? you were there on the front lines. david: i knew him, a talented guy but nothing like sheryl , sandberg, we have to admit. i would respond to that by saying, facebook has almost the lowest executive turnover of any company i have ever seen. people love working with zuckerberg. he has a very constructive way of working with his senior leadership team. it is funny hearing people talk about sheryl sandberg being a potentially strong candidate to go to uber and take over kalanick's job. there is no way that will happen. sheryl sandberg does not want another job. she is the top candidate any ceo
searcher would want for any job, including ge are probably senator, governor, maybe even president of the united states. for the time being, she loves her job, loves working with zuckerberg. and he is very good at learning from his co-executives and not thinking of himself as superior. he is revered at the company, but he works very constructively with his leadership team. i do not think that is the way kalanick did it at all. emily: let's get back to kalanick. there is broader concern about the overall arrogance of founders in silicon valley. what lessons can founders and investors take from what happened in uber? david: there was a lot of talk about the greed of investors in enabling kalanick. that is a very legitimate point. he seemed to be turning entire industry upside down in a way that could be enormously
profitable. people thought he would potentially create a new monopoly, ala facebook or google. i never thought that was a strong possibility. he got people excited by the potential scale of his victory, and they just threw money at him and i think they did it heedlessly. we need to see investors being more careful and nuanced or cautious about how they throw money at people. he was allowed to run wild because of the greed of his investors. that, to me, is the single biggest problem. emily: david kirkpatrick, not mincing words. ceo of techonomy. as always, great to have you. altice climbed in its trading debut, raising $1.9 billion in
the second biggest u.s. ipo. the cable company gained 9% after it sold nearly $64 million a share. the ipo comes one year after it was formed with the parent company closing the acquisition of cablevision. altice usa plans to use the money for acquisitions. the ceo says they will look at any type of deal. are focused on cable, we like cable. we like the opportunity to have more cable, if possible. if not, we will look at other things. emily: more from the noah internet conference in berlin, and discuss whether cryptocurrencies are boom or bust. this is bloomberg. ♪ emily: tesla is known for
branching beyond cars to batteries, solar panels energy , storage. they are in talks with record labels about their own music streaming service. it is unsure if they will go forward with the service or continue with its current music partners, said the person asked not to be identified, discussing private information. it could involve multiple tiers of service, starting with a pandora-like web radio offering. i want to get back to the noah conference in berlin. one big name in attendance, blockchain. the bitcoin currency provider will provide fresh funding. the influx of cash represents one of the largest investment round in the financial tech sector since britain's vote to leave the european union. caroline hyde caught up with blockchain ceo peter smith and started by asking about how the company was able to draw in their latest funding round during such a tough political climate.
>> we have added an incredible year on a growth perspective. investors are willing to back up companies that are growing well. we have a strong management team. we're diversified. our market, we have a huge european user base. but it is also a majority outside europe. because of that, i think investors are more comfortable backing us. caroline: you talk about growth, can you give us an idea of what growth you are seeing? peter: one is, consistently improving your product. making it more useful to people. the other is the extreme geopolitical risks we have seen. when you see that, people want to diversify and find new assets to the current system. when that happens bitcoin does , well. caroline: there are plenty of other digital currencies. what are you seeing in terms of
dynamics there? yesterday we saw some volatility, is it stressing? peter: there's been a huge run-up. it is probably overheated. it is probably a bubble that will pop soon. that said, i am positive about the long-term outlook. markets can get irrational. at the same time, bitcoin is doing well. in a stable way. fromcame up from a be 1000 2500, 2700. bitcoin now trades as a safe haven asset. they are closely correlated to gold. i think generally right now, bitcoin is seeing a slow and persistent run-up. emily: blockchain ceo peter smith. caroline hyde also caught up
springer's ceo. they are one of the largest digital publishing houses in europe. she talked about the relationship with social media platforms and how he sees it he revolving. >> social media are an important driver. we have new leadership. the important thing is that in the long run, we have a sustainable model. advertising is one, but paid element subscription has to be the second one. facebook is preparing initiatives in that context, i am confident that in a short period of time on social media we will have two revenue streams. we have the date of our clients. with that, i think a great platform. if facebook itself would transform into a publisher, then -- or be forced to become a publisher then we would have an
, issue. i do not think it is going in that direction. i think social media are platforms for distribution to connect people. we publishers are generating the content, strong brand monetizing, advertising. , caroline: the question of fake news, how is it then dealt with? mathias: fake news is first of all nothing new. the amplification of fake news through social media is a healthy debate. it shows there is a big difference between the post where you're told you do not have to know who has wrote it. there is a track record of investigating and breaking news. on the one hand it is educating people. it is also showing paid distribution platforms they have to attract high-quality content. it has also increased
credibility of branded content, of journalism. take for example the new york times, with 3 million subscribers. the highest subscription numbers in history. most of it is digital. it is very much driven by phenomenons like fake news. we need trustworthy sources and we're benefiting in our portfolio. caroline: how will that affect the german elections? mathias: there are all these ways to manipulate, they will be used to determine the german election campaign. they have a tremendous opportunity to show what they can do. people are smart, so i am not too concerned about it. emily: axel springer ceo there. jeff bezos takes a unique approach to seeking philanthropic ideas. founder how ton work on philanthropy. and, a reminder of our new
jump thursday after reporting strong fiscal fourth-quarter sales. having its best day since 2014. thanks to that stock surge, it jumped $3.4 billion. that made the silicon valley billionaire the biggest gainer on the bloomberg billionaires index today. a tweet from a week ago from amazon's jeff bezos may have been lost in the shuffle due to that amazon-whole foods deal. it is certainly getting attention now. the tycoon's request to his
twitter network about how he could best use his wealth to help people has set off a frenzy of responses from every corner of the world. part of what he wrote says, i want much of my philanthropic activity to be helping people in the here and now, at the intersection of urgent need and lasting impact. joining me from new york to discuss the responses that bezos received is tom metcalf. give us the range. some tweets were lighthearted, like donate $42 to every shareholder. others said this is refreshing what about food banks, , safe water mental health care? , what did you see? tom: you are picking through 42,000 tweets. you have the whole range. some are snarky whole foods comments. it is split between the two. some people are taking the opportunity to complain about amazon's customer service or asking that he give alexa manners. the majority were heartfelt.
his tweet was asking for responses for urgent need, stuff like food, soup kitchens. also, loan forgiveness for students. teachers were a popular topic. basically, something his money can impact now and have a long-term impact at the same time. emily: taking a look at the bloomberg, you see jeff bezos hanging out in the number two spot. compare what he is trying to do here with what other billionaires have done, like zuckerberg or bill gates. tom: there is a lot less information about what he is planning to do. he is a second richest in the world, just after gates. in comparison to bill gates, who has already donated $30 billion, $40 billion of microsoft stocks, bezos has done little. he has given $100 million to his family's foundation. in contrast to mark zuckerberg,
zuckerberg has said, i will pledge 99% of my facebook shares, $63 billion today. in contrast, bezos sent a tweet that is suggesting he is starting to think that way. but he is lagging. people put him alongside bill gates warren buffett, mark , zuckerberg. emily: what has his the philanthropy been like so far? tom: about $100 million, focused on specific items. it makes this wide-ranging call for ideas surprising. in seattle he has given $10 million, $20 million to a cancer research unit. his family foundation is heavily focused and well-known for its attention toward childhood education. that is run by his parents, mike and jackie. he is indirectly involved through funding part of that movement. emily: any ventures to guess what it might look like after
this? tom: he could do something about job retraining. amazon had a tremendous impact on the american job market. if you look at this cynically, philanthropy can be used to buy goodwill. he had that one impact through amazon's success and he will perhaps try to rectify that or offer retraining to the american workers who might have been hurt by amazon. emily: tom, thanks so much. that does it for this edition of "bloomberg technology." all episodes are live streaming on twitter. that is all for now. this is bloomberg. ♪
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