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tv   Best of Bloomberg Technology  Bloomberg  August 27, 2017 3:00pm-4:00pm EDT

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♪ emily: i am emily chang. this is "best of bloomberg technology," where we bring you the best in this week's interviews in tech. samsung's attempt to steal the smartphone thunder from apple. introducing the new galaxy note eight phone ahead of apple's next big iphone. we have details on both devices. plus, mutual funds take into consideration google and other giants. could new sales stats boost investor confidence? as the price of bitcoin surges, investor interest is growing
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stronger. now the question is, are we in a crypto currency bubble? when could it pop? first, our lead. it is a redefining moment for the samsung note line as the south korean company unveiled the samsung note 8. it is their largest phone yet and could be its most important. after last year's exploding battery fiasco, consumers could be hesitant to pick up their new phone, however, samsung is confident that the problems are fixed. it wants to move forward with its best mobile device yet. our bloomberg representative has the story. >> i am in midtown manhattan for the unveiling of the samsung note 8. the stakes are very high, since it is the latest version since the galaxy note 7 was recalled after reports of catching on fire and exploding. let's take a look at it. ♪
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>> the note has always been samsung's biggest phone. one with the screen so large, it has been compared to a tablet. now, the screen is getting even bigger, measuring at 6.3 inches, to be exact. the note 8 has an improved camera with two lenses on the back of the device. it also supports faster networking for browsing the web and downloading content. but the question remains, can samsung win big with customers after last year's note 7 debacle? samsung killed off the smartphone after customers reported problems with earlier models exploding and even replacement phones catching fire. the whole fiasco cost the company an estimated $6 billion. >> we won't really know if they have gotten over the note 7 debacle until probably early 2018, when the phone has been out there long enough, and people have tested it. >> but that is not the only problem the company faces.
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this week, the former head of samsung was jailed for charges for bribery and embezzlement. >> their management is not so tied to the brand of the company. other companies, for example, apple's tim cook is different. he represents the company. i feel very few consumers know who runs samsung. >> but, perhaps the biggest -- -- the biggest obstacle is its competition. especially with apple and other competitors in asia. apple plans to unveil their highly anticipated phone eight in a matter of weeks. >> if you are doing feature by feature, comparison and you are looking at what is rumored to come in to the iphone, there is a very strong lineup. >> samsung regained its top spot in the global smartphone shipments with 23% of the market, after losing ground during the note 7 scandal. so, can samsung hold on to it spot in the increasingly crowded smartphone market? only time can tell. but one thing is for sure, by
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keeping the same note branding, samsung is making it clear that the note 8 has fixed the problems of the past. emily: meantime, the latest edition of the smart phone that started it all, the 10th anniversary of the apple iphone is still shrouded in secrecy. marc berman has a lot of the secrets on what to expect from apples flagship product. he gave us some of the details. >> for the first time, they will have three big phones. to the phone is going this premium model, it has stainless steel. we said it is going to be the size of the iphone 7 plus screen. but that is the whole phone. is very slim around there. it will be easier to hold, not be as heavy. the 3-d sensor and the fingerprint sensor of going to will be the "crown jewels" of the phone. the phonewill unlock
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and milliseconds. it can even do it in the dark. tell me more. >> there is the 3-d scanning sensor and an infrared sensor that you would see in a classic remote control for your tv. the laser controls this light. in the dark, i imagine being on a swat team with your helmet where you can see in the dark, so it is kind of like that. so, the phone will be able to read your face based off little light in the dark. emily: when it comes to some of the features apple is lagging. , i did sit down with tim cook back in june and he had this to say about being first. take a listen. tim: for us, it is not about being first, it is about being the best. and giving the user an experience that delights them every time. we don't let that impatience
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result in shipping something which is just not great. emily: talk about the future -- the features when it comes to apple. which features are apple first in, and what features are they behind? inyou can apply what he said june. it was the opening line of this story. so, the os screen which is something that has been appearing in samsung phones for vertical integration, motorola has had them, the essential phones we have had on the show all have them. samsung has had it. 3-d sensors are going to be new. the app store, that is something they created. is on the android, google play, everything after that. apple was the company that modernized the smartphone. emily: also when it comes to processor speed. >> yes, a couple months before that, i think i said the phone would have the big chip, but
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they did come out with the 64 bit chip. they are still ahead when it comes to processors. emily: let's talk about the home button. there will be a home button. you get your on-screen real estate. what does that mean? >> to make the phone smaller, they have to chop off ins. they are getting rid of the home button. which will now be part of the screen. essentially, there will be a home button area. there will be unique controls. there will be swiping gestures for navigating between apps. and it will be to the point that you do not really need the click buttons around it. there will still be the power button. maybe even the volume buttons will go away in the future, too. emily: obviously, the note is coming out. how does it stack up to the competition whether it is samsung or essential? >> the note is very significant. the note 7 was one of the
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highest reviewed phones when it first came out. it was one of the most anticipated and successful phones in terms of the product reviews. then it started exploding and that changed everything. i think that will be a challenger in people's eyes. emily: what do we know about timing that this new iphone? so, the new iphone has been dog with reduction rumors that they have had production issues. what do we know? >> they will release more of the models that they have supply of. there are going to be three models. initially, the mix will be much higher for the new updates. we will see the new, pro model trickle out, but it is going to be hard to buy in for the first couple of months. emily: that was bloomberg's mark gurman. in india, there is a new nonexecutive chairman at infosys.
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the software services company. he is backed by infosys founders that want to take back control. the founders group has clashed with the board in recent months, which led to the previous ceo's departure last week. coming up, uber's drama is weighing down its valuation. which funds are cutting price estimates, next. plus, mark cuban flips on bitcoin. outspokenbillionaire skeptic is now a believer. are digital currencies now becoming a mainstream investment? we will discuss. this is bloomberg. ♪
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♪ emily: since going public in june, blue apron has lurched from one setback to another. the meal startup is losing its human resources chief and have start a -- started a hiring freeze.
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the shakeup comes just as the company ramps up a new center which will handle half of its production volume. blackrock, vanguard group, and t. rowe price have lowered their valuations of uber by as much as 15%. they have faced a persistent drumbeat of bad news including court battles. this on top of an ongoing ceo search after travis kalanick was ousted in june. uber has held up its $69 billion valuation. they are a transformational, once in a generation company. the evidence that uber might be less valuable than it appears may scare off future investors. we are here to talk about their latest developments. >> the mutual funds marking down uber, 15% vanguard. blackrock is 1%.
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it is a useful sign. especially as this big softbank deal gets done, and we do not really know what kind of -- what the valuations of the secondary shares are going to be bought. people doing the selling, having these professional assessments, the company valuation could give them a guidance. emily: you have been reporting about new investor interest. is it happening at that $69 billion valuation? is it significant that they are flat and not increasing? >> there is certainly strong interest from insiders to see the valuation. emily: but even if it is flat, is that a good thing? >> it is hard to say. given the circumstances, flat valuation is the best they are going to get. of course, it is a paper valuation. in terms of what they are
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actually paying netted out, it is going to be a lower value. emily: who is selling these shares? are these shares coming from other investors, employees, former employees? >> that is the big question. especially is benchmark during the selling? selling?the is travis doing the selling? the range of the secondary sale was as much as $2 billion to $10 billion. you can get a sense of what the appetite for the sellers is going to be. emily: in the meantime, uber is showing fairly positive revenue numbers. growth is up 17%. trips up within the last year. losses are falling. what do you make of the numbers? >> i mean, they are good. it is all about perspective. uber is losing short amounts of money. if you annualize the amount of losses they have had this
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quarter, you get to about $2 billion which you can compare to amazon in 1999 when they had their worst loss, which was about $300 million. so, the scale of their losses even as they fall significantly. i think it was 9% quarter over quarter. they are still humongous compared to any other company. emily: for most of that quarter, uber still had a ceo even if the investigation was still ongoing. it will be very interesting to see the numbers for the current quarter. so, the ceo search. labor day is approaching. they had said they would have someone in place by then, or have at least voted on it. there is only one name out there. >> yes, and he remains the frontrunner. there were reports that meg whitman was back in the mix. we have held our tongue there. there are other outlets that have said she is not in the mix. there is a lot of confusion on that. benchmark denied the idea that they had put her out there.
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it seems like there is a main candidate, but there are also some others who are reportedly still in the mix. emily: do you think labor day is a realistic deadline? will we know by then? >> i think everyone is exhausted and they would like to see deadline met, but it would require of investors going along to get along. it is hard to say if they will meet the deadline or not. see it met ife to everyone could get along. emily: coming up, after the events of charlottesville, virginia, various tech companies have taken a stand against neo nazi groups. but the debate in silicon valley on how it deals with hate continues. we will discuss next. plus, netflix is building up their original content. we break down the new media marketplace. this is bloomberg. ♪
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emily: jack jones, the former president of uber has been named ceo of h&r block. he previously served as chief marketing officer at target. the move is part of a greater move by the company. h&r block touted a collaboration with ibm for free online returns as it competes with online services like turbotax. since president trump took office, tech leaders and the white house have butted heads on several fronts from immigration to climate change, and most recently the policy around hate groups and hate speech after the events in charlottesville, virginia. now, washington has grown more critical of tech firms, hiring practices, and news content that could have far-reaching effects on key legislation as well as regulation. with bensed this topic brody and michael wolff, ceo and cofounder of activate. >> we mentioned some of these cultural issues.
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the ban on trans members of the military. these are places where the administration and the company have clashed in a very public way. and those kinds of clashes have policy consequences, you know, especially in this administration where loyalty is a big deal. there is not a lot of love lost between some of those companies and the white house, especially given the events and charlottesville more recently. but it is more important to realize that there is a policy dimension here, too, issues like privacy, on the table. washington is looking to take them on. we do not necessarily know what they are going to go. like tech may be losing in them. so, there are a lot of ways in which these companies are being surrounded right now. emily: obviously, the trump administration has not had the
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best of luck of pushing through policy initiatives. but michael, is the fact that congress and the white house are considering tax, energy, energy -- energy, immigration reform, which are all important to silicon valley. the white house is clearly not on the side of silicon valley. how much of a concern is that? >> what you have is a divergence of values. you have silicon valley where there are a number of things that are very important. net neutrality, steeled immigration, you have the gender issues. but more broadly we have issues which are important to tech companies. one of them is consumers. these are companies with hundreds of millions of users and they are very afraid of some , sort of consumer activism. and so, they want to focus on their values. they are willing to bend their values when it is things that are important to their companies. two examples are upgrading the government's infrastructure with the contract reach of these companies. and other things like tax reform because many of them want to
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repatriate foreign earnings. emily: so, ben, there was the tweet about amazon doing great damage to companies throughout the u.s. and many jobs being lost. are we getting to a point where tech companies could ultimately end up being regulated like utilities, or at least that is the direction the trump administration wants to go? >> i do not necessarily think we are at that point yet. i think we are at the point where some people in washington, both liberals and conservatives, and it think that it was -- that is what is interesting, are asking people to look in on this. this is not the main strain opinion yet. i would say there are people who say, look there is a lot of market share here. there are a lot of companies like amazon gobbling up smaller ones.
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or even medium and large ones like all foods. they are saying, and emigrate are saying this as well -- and democrats are saying this as well we need to take a look at , what is going on here. i think it is important to realize as well that some of these companies are on the chopping block when it comes to these issues. emily: so, how would tech companies change their approach to lobbying? we know they spent a lot of money during the obama administration, lobbying various lawmakers. what is happening right now? >> well, they are spending a lot of money. that is what it comes down to. there was some talk that these companies did not have any republican representation. and they needed to bring in conservatives. i think that was a little overstated. in d.c., big companies are always in play for democrats and republicans. but google had record spending in their last quarter. a company like goldman sachs barely spends $1 million.
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so, they are really spending a lot of money, because they know that a lot of things are coming their way. either coming or going. and they want to be a part of it. emily: michael, we are looking at potentially three more years in the trump administration at least. what are the main issues you will be watching? >> from a tech perspective, any potential efforts that are about hampering these companies, because we cannot stop the march of technology. amazon, apple, google, facebook, these are companies which do not just impact the united states, but they have an impact globally. we should be wary of anything that gets in the way of their growth. and yes, they are also, they trade in politics. jeff bezos owns "the washington post." so, there is a lot of progress in tech companies which can be threatening to people in the
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administration, and other businesses. emily: since the events of charlottesville, virginia, a surprising topic has come to the forefront in silicon valley. deep-seated divisions about how far tech companies should go to silence hate groups, specifically nazis? where do these companies draw the line? bloomberg's editor export this -- explored this topic and joined us to discuss. >> silicon valley has had a hard time navigating the era of donald trump. and that is partly because, even before the election, there was all this controversy around companies like facebook and google as to whether or not they were media companies are -- or technology companies. if you are a technology company, you do not have to take responsibility for the content on your platform. if you are a media company, you do. most of these companies want to be a technology company because you do not have to spend as much on content moderation. the thing that happened two
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weeks ago was, suddenly, these companies realized, maybe we have to take some responsibility. that came to the forefront when google and go daddy and a bunch of other companies took down "the daily stormer," which is a nazi publication had been on the internet until then. emily: right, cloudflare was the last company to cut off "the daily stormer." this is a company that has taken a more laissez-faire free's reach approach -- free speech approach. we did have the ceo on the show and he said he was still uncomfortable about taking down the site. he believes that no person, no company should have the power to take down sites. take a listen to what he had to say. >> we turn to the experts like law enforcement, regulators, and we say, here is the content.
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what do you like for us to do? that feels like the process of -- principle of due process. that they are politically enshrined with the responsibility of knowing what to do rather than someone like myself or mark zuckerberg or jeff bezos. emily: he is arguing that internet companies should be regulated like utilities, and that decision should be out of their hands. what you think? >> yeah, i don't know if he has really thought through that one. if you are regulated like a utility, you are worried about the burdens, but if you are regulated as a utility, that creates a new set of burdens. there is also price control and a whole bunch of other things where if you really think through it, you realize you cannot really want. emily: coming up, call it crypto fever. bitcoin is bigger than ever as the price surges past $4000.
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we get investment perspective on the future of digital currencies. and a reminder, all episodes of bloomberg tech are live streaming on twitter. check us out. this is bloomberg. ♪
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♪ emily: welcome back to the "best of bloomberg technology." i'm emily chang. well, outspoken billionaire mark cuban thinks there is opportunity in cryptocurrencies after all. cuban, who tweeted in june that the claim was in a bubble, is now investing in a fund called "one confirmation." cuban tells bloomberg in an email, i have always looked at block chain as a foundation platform from which great applications can be built. hopefully, we can find a few. caroline hyde sat down with the head of level 39 to get an investor perspective on crypto currency. >> block chain has enormous potential in much of the interest is in finding expression in the valuation of
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bitcoin. what we are seeing is a galloping ahead of interest in the technology manifesting in the price of bitcoin. caroline: and not only in the price of bitcoin, but also in the ripple. it is tempting a lot of companies to come out and raise funds of ico's, initial coin offerings. within minutes you are able to go to the crowd and raise millions. is this something we are seeing in europe adopt as well as the united states? ben: there is huge engagement with ico's, token sales, the fcc in the united states is clarified its view the authority , and the u.k. has taken a keen interest. it is keen to make sure that it encourages innovation, while making sure it protects the markets and consumers. the real potential of ico's is very exciting, but it comes with a health risk. it is an extreme sport. caroline: it is an extreme sport. therefore, do you think that we will start to see u.k. regulations come in, and say,
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these are going to be asset securities that we want to be regulated, to be registered, in the same way? ben: well, they have been consulting on this over the last few months. they have not declared a clear position looking for just yet. -- looking forward just yet. but they are prioritizing protection of the marketing consumer, while seeking to encourage innovation. and that is one of their key strengths, being the superhero, the u.k. is keen to make sure it supports innovation and helps the u.k. maintain its position as a great place to innovate. caroline: what is interesting about level 39, that you are a hub for startups, but you are in the middle of morgan stanley or jpmorgan, where they are based in london, how much are you seeing the banking sector respond to the rise of block chain technology? and companies that are being sworn out of it? ben: that is a really great question. the actual application of these
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technologies that you described, is a long and complex process. you have to look carefully, listen, and look what people are -- for people who are building deep relationships. that is what we seek to support at level 39. it is not a dramatic activity. it involves drilling into the details. >> how can it change the way they operate? ben: well, if you consider at the heart of distribution of trust across networks, many people compare this to the early stages of the internet. there is a comparison that is useful. much of the interest in bitcoin and other cryptocurrencies right now looks like the hype that surrounded the internet in the late 1990's. but in just the same way, the fundamental transformation potential is hard to see in full now as it was in 1995 as people consider the future of the
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internet. caroline: that was an interesting point that mark cuban made out. from the ashes of some of these bubbles like bitcoin, you will see the ico's, the digital currency versions of amazon, google, facebook, come to be the real game changers. where will they be based? san francisco, london, switzerland? switzerland is trying to claim precedent. ben: there is a huge amount of innovation. we can look further afield as well, in china, russia, japan. also great innovation in cryptocurrencies. we should be ready to be not surprised where the real progress arrives. but of course, it is also important to look beyond cryptocurrencies, and consider for example the implications of smart contracts. there are very exciting developments, which are also built on the same essential foundations. caroline: there been questions as to whether one digital currency will win out over all. do you believe one will or can we have many?
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ben: i think we will have many. if you look at the governance debates and the technology debates that have been shaping the recent developments of bitcoin. i do not think any major currency is immune to this. governance is a challenge. scaling is a real challenge. it is systemically useful to have real diversity of currency. just as it is useful to have diversity in almost every other. caroline: and what is interesting is also government interaction between yourself and level 39. are you discussing with the government how they should be adopting and looking at cryptocurrencies? you are someone who used to get startups connected with investments. are you saying that ico's would -- could be a good way for companies to start? ben: i think the government does a fantastic job. they do a great job of balancing the challenges of maintaining the protections for markets and consumers, while also being permissive. it is the envy of regulators
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around the world. and i've seen plenty of evidence in my travels. as far as the central government is concerned, there is no doubt in any of the minds that i've been engaging with that developing the u.k.'s huge advantage as a great place to innovate is a forefront to that. emily: bloomberg's caroline hyde with level 39 ben brabin. honolulu adopted an ordinance to outlaw using a cell phone while crossing streets. it is $30 per violation. u.s. pedestrian deaths have been on the rise but there are no statistics to show whether texting played a role in fatalities. coming up, is facebook copycat
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strategy paying off? why the team user base could be waning. the solar eclipse got everyone's attention, even president trump. he got glasses to watch outside the white house. we discussed the excitement around the once in the 100 year event. this is bloomberg. ♪
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♪ emily: this year, facebook is expected to see a decline among teenagers users in the u.s. 14.5 million people will use facebook in 2017. that is a 3% drop from the prior year. this is the first time a research company has predicted a fall in facebook usage from any group. teens are migrating to snapchat. -- snapchat and instagram, which is owned by facebook, but will
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snap be able to capitalize on this weak spot? sarah joined us to break down. sarah: we have seen the stock climbed today after a long drawn out fall since the ipo. one of the main reasons, of course, that's that has fallen, is because facebook has been coughing its most popular features on its main app and an -- and on instagram. you know, this company continues to be very compelling to a lot of young people. that is what this report reminds us of. it is still a lot cooler than the big social network is. emily: how much of a concern is this for how much facebook, given that they own instagram, is it still a big problem that they lose teen users? sarah: well, when i talked to teenagers who use facebook, they use it for things that are more -- responsibilities are utilities.
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they use it to coordinate their soccer matches, work on group projects with people from their spanish class. i mean, it is the kind of thing you have to kind of be on to survive in high school and college, and a social setting with your teachers and all. it is more of a tool. it is not utility. it is not fun. and the way that teens are communicating, they are communicating in images, video. it is less the kind of status updates we have seen on facebook, which have become increasingly political, or increasingly heavy. this more light communication on instagram and snap. does it harm facebook? i think facebook made a smart bet a few years ago acquiring instagram. it has become so crucial to their future. and so, i would love to see a little bit more color from the company in the future of exactly how much instagram contributes. emily: when it comes to snap,
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you got nbc doing a show now on snapchat, cnn is now doing a daily show on snapchat. how much traction are these kinds of things actually getting? sarah: they are getting a lot of traction. like millions of views. it is very interesting. this kind of media consumption experience differs in many ways. first of all, it is mobile first. second of all, it is in these short bites that people really consume on the go. and it is something that caters to this very millennial audience that is increasingly not paying for cable, not watching conventional tv. it is a way for brands like cnn and nbc to reach this new generation that may not be on facebook. emily: how well do we think the facebook hopping of instagram and snapchat is actually working? when it comes to facebook and making the camera primary and adding stories, is it backfiring? sarah: i would not say yes, that it is backfiring.
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with any user base of more than 2 billion people, some people are going to use whatever they create. but i have not seen people use facebook stories, at least on my own facebook. that is anecdotal. they have not released information on it. have you? emily: no. [laughter] sarah: maybe we are old, emily. it is something we have not seen gain traction. it was the top think mark zuckerberg talked about at the developer conference earlier this year. that part is embarrassing that they made such a big deal about the augmented reality platform of the future and then we have not seen a lot happen there. but in terms of instagram, that is going solo. -- is going so well. that is incredibly successful copycat effort. emily: that was bloomberg technology's sarah frier. competition in the streaming space is set to get intense. apple's $1 billion spending on
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original content in 2018 will allow it to produce 10 shows. while it may seem that apple is using deep pockets to launch original shows, it is entering a crowded field already dominated by netflix and amazon. michael wolff joined us to weigh in on this new media landscape. michael: apple brings a lot to this party. they have devices, people watching video on their phones and on apple tv and computers. but at the same time, they also got a lot of data and they know what people are watching and they know what people are doing. but at the same time, it is very difficult to produce hit tv shows. youtube is using data to be able to decide what shows they will produce. for example, they are doing a spinoff of "the karate kid," because they know people are watching old clips of "the karate kid," or doing shows about dancing because they know
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what people are looking at. in apple's case, it is not as easy as going to the video store, or the content store, and saying, just serve me up a hit series. that is very difficult to know what to produce. there is an old line in hollywood -- "no one knows nothing." that means no matter how may times you have made a film, you may not know what will make the next film or next tv show successful. i think it is going to be evolves,ng how apple and at the same time, they are competing against a bunch of other people. they are competing against facebook, youtube, as well as other companies that are out there that are already well established in the tv business. emily: facebook is set to unveil an original series. youtube spending on original series. of the two, is it a tossup in terms of who is better positioned to compete, or are you optimistic about them both? michael: it is hard to make the
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judgment based on their platforms. it really comes down to who is able to produce hit shows. and a lot of that revolves around talent -- directors, writers, stars, people they can put together, and then there is that bit of luck. about what an audience will be interested in. one of the advantages that facebook has is they have hundreds of millions of people in this country who are in a constant basis, going to that platform. if nothing more, they will click on that watch button to see what is there. but when you look at an average of $3 million an episode, and you are talking about 10 episodes per season, it is going to take a long time to burn through that billion dollars. and at the same time, it is going to take a while to ramp up. it is hard. you cannot just go out and buy it, you have to build it.
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emily: that was michael wolff with activate. coming up, the once-in-a-lifetime out of this world event that unfolded right before our very eyes. we explain how tech played a role in the first total eclipse across the u.s. in 99 years. and if you like bloomberg news, check us out on the radio pair you can listen on the bloomberg radio app, on, and a sirius xm. this is bloomberg. ♪
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♪ emily: well, the total solar eclipse has come and gone this week, and it put the u.s. power grid to the test. utility owners and link electricity generators braced for more than 12,000 megawatts of solar power possibly going off-line. sunrun is the largest independent solar developer in the u.s. >> i think the best part about the sun is that it is a -- it is so reliable. when these eclipses happen, which happens once a generation as you mentioned, we have a lot of advance notice. we were working with grid operators and they were able to procure power to meet the needs during the eclipse. it is important to put it into context, when you look at the overall, traditional power sources, they go off-line all the time and without a lot of
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notice. annually, they will go out to the tune of 9000 times the amount of power loss that we will see from this eclipse. so, the sun is really there and is reliable, and we're asking our customers to turn their power down and enjoy it. >> is this in a way, testing how you react in an event where we have solar power as a dominant force in the provision of power generation in the country so you can look at what the options are in terms of switching between one and the other? as you said, in terms of solar power, i mean, that is the most reliable source of energy that we have out there. >> it is. and the cost production has been so significant that it is becoming the dominant source of new generation. you know, the segment that my company operates in, on the rooftops, also adds a different dimension. we often think about renewables
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as one and the same. but there is a difference between the large utility scale pipe were nobles, and what we do at the home-level, which is really pushing out, using the rooftop to produce power, using electric vehicles, getting a battery on this grid. and what we are going to see is a system that will be much more reliable with the addition of this rooftop solar, storage and electric vehicles. i really look for to that. >> to julia's point, we have been talking about power operators, scientists using this as an opportunity to test their systems and software. is there anything you are doing during the eclipse, are you testing battery capacity? what will you be observing? >> well, for our customers, you know, we have about 150,000 customers across the country. so, a full gigawatt of power. we certainly can test to see how
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our systems will produce during this eclipse, and we will do that and record the data. we will also look at what the consumer patterns are. were we successful when we asked consumers to bring their consumption down? those are important learnings. again, because this eclipse -- an eclipse in any given point across the world happens once every 300 to 400 years, so it is fairly rare. so what we are more focused on is how do we get the storage piece to be cost-effective, so that when there is a situation like this, we are able to fill up the battery with solar power and dispatch it to the grid when the grid needs it. emily: that was the ceo of sun run speaking to bloomberg television. mean town -- meantime, we sat down with tom to discuss the craze around this historic event. take a look. tom: so, we used everything from very unsophisticated serial box
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-- cereal box viewer, our colleague used one. i used one of those google glasses that you tested out earlier in the week. we saw people looking with their naked eye. i wanted to shout over, i don't the you're supposed to do that. [laughter] tom: here in san francisco was a little cloudy and foggy. it covered about 70% of the sun. a little anti-climactic here, but the thing about this eclipse given the ubiquity of social media, when we got back into the office, you could hear and look on facebook and twitter, and see the experiences of people across the country who were in the path of totality. i saw people posting photos just saying, hey, my son just took this and it changed his life. i was listening to people in south carolina cheer as the sun went completely dark. so really, for some people, it had a very profound impact. emily: i actually did cover a solar eclipse in china in 2009,
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and was in the path of totality. so, going to complete darkness there is a magical, eerie feeling, the temperature cools. you definitely heard people talking about it across the country. as you say, it was this communal moment. even the president watched. he got a lot of flack on twitter for looking up briefly without the glasses. we're looking at him now. he just took them off. when he came out onto the balcony. there he is. tom: very briefly. [laughter] tom: hopefully, he did not do much damage to his eyes. but you can hear in the video people down below the balcony shouting, hey don't look. this was one of those moments, i have seen essays about this, when this was an opportunity for the nation to come together and focus on something different. hopefully, wearing glasses, without the moment being upset by washington d.c. and yet, here is what happens. the president found a way to
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steal the thunder from this event as well. [laughter] emily: yet again. everyone had a different live stream. nasa, twitter, the weather channel. it was all over cable dues, but -- all over cable news. it was interesting to see how various tech companies from google to twitter to airbnb turned this into a business opportunity. tom: we talked to airbnb. there were thousands of people along that path who rented homes. in some instances, for the first time. i can't remember the exact number, they had a surge in listings. because people were wanting to be there. if you look at google maps, you saw traffic patterns acutely very red in that path of totality. emily: in fact, there were some folks in idaho, who spent a lot of money, and it rained, yet they were still happy about the experience. it was an all around experience, i guess, to commune and watch. looking at people in the path of
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totality. tom: people throwing parties. i was on a plane recently, and a guy got sidelined going through security because he had a pair of welder's glasses. emily: bloomberg tech's tom giles there. that does it for this edition of "the best of bloomberg technology." we will bring you all the latest in tech throughout the week. remember, all episodes of bloomberg tech are live streaming on twitter. check us out on weekdays. that is all for now. this is bloomberg. ♪ .. ..
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♪ >> welcome to "bloomberg businessweek." oliver: we are coming to you from the headquarters in new york. carol: how today's nba stars are learning to score as tech investors. while donald trump is busy in the white house, his sons are running the family business like dad. oliver: all that ahead on "bloomberg businessweek." >> take a look at presiden


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