tv Bloomberg Technology Bloomberg November 5, 2018 11:00pm-12:00am EST
♪ emily: i'm emily chang. coming up, the big test of election security. experts brace for attacks in the final stretch of the u.s. midterms. facebook and other platforms, have they done enough to fort take news, misinformation and meddling? plus, the most influential tech investor from russia is not overly concerned about meddling. we will hear from him. and apple shares sinking on
reports that it halted a production boost to one of its newest models for the iphone. we look at their biggest product category. but first our top story, the final stretch ahead of the u.s. midterm elections. and separate security experts are bracing for possible attacks. the poll on tuesday will be the first test of election security since the 2016 elections. and while social media sites have attempted to crack down on figure news by deleting accounts, even they admit that the battle against election interference is unlikely to be won. the biggest threat may not be fake news in itself, but misinformation. at the 11th hour, facebook has pulled a controversial ad about the migrant caravan headed toward the border backed by president trump. so to discuss the issues around this we have bloomberg tech's austin car. and austin, give us the lay of the land.
how secure are the elections at this very moment? austin: it remains to be seen. we have seen in the last couple weeks, or months, the big tech giants, internet giants like google, facebook and twitter are trying to be more proactive in the content they take down. at the same time, we are not sure what is going to happen tomorrow. if you rewind back to 2016, the a week after that election mark zuckerberg said it was crazy the idea that the network had any impact on the election. it was not until march 2018 the cambridge analytica scandal hit. so we will not be even sure tomorrow if anything has gone wrong, it could be weeks after until they can do a deep dive into it, but they have been proactive in the content they have taken down, and in managing the platforms. emily: at this hour, what are the threats that you are most concerned about? >> unfortunately, the
cybersecurity narrative has become embellished. that has not allowed us to take action and do things about stopping damages. the race to heck of a 2020 elections begin on wednesday and since 2016 was pointed out, very little has been done. john podesta was caught in a phishing scheme and that remains a big threat to campaigns, and candidates, over 460 on the ballot tomorrow, have done little to protect themselves. we need to get in front of this more quickly for 2020. emily: austin, it was pointed out that mark zuckerberg, despite the efforts facebook has made a leading up to this, they have a whole election war room operating as we speak, he never claimed facebook is fixed. and they have emphasized that there is no way they can stay ahead of all the bad actors, or say they can with complete confidence. you know, we are just getting news facebook has pulled this controversial campaign ad backed
by president trump, claiming that the migrant caravan is full of criminals. a couple of media outlets have already pulled it, but it is this controversy that could insight some more anger and possible retaliation. what do you make of this? austin: on the earnings call, mark zuckerberg spent a lot of time managing expectations, saying they will never be perfect, there will be things that slip through the cracks. the larger issues they will have to contend with is what you do with content that is not so much fake news than misinformation. and just showing how the company is struggling to grapple with the content that would not be characterized as fake news from hoax publishers, but more like content that gets viral on its own, because it is more polarized. and it leads left or right. that is more likely to spread across the network. do you proactively take it down,
or is that in a category of a free speech? those of the challenges you are seeing facebook and twitter dealing with leading up to tomorrow's election. emily: facebook said it violates their ad policy against sensational content. it is a lot to be posted, but it cannot receive paid a distribution. oren, what power do the voters and users have? what should we be aware of, what should we be able to spot? oren: voters have all the power, they can go tomorrow and elected leaders it will take cybersecurity here is the legislation that would change what we see today. and they can also vote for technologies that protect their privacy and take security seriously. so it is an important day, every day is an important date to vote, vote with your dollars, vote to send the right people to washington and to the state house it will do something about this. very little has been done since this has become more aware to everybody since the 2016
elections, and it is important to go out tomorrow and make your voice heard. emily: we are already becoming aware of some threats, senator joe manchin for example announced his social media accounts were compromised. twitter has cracked down on a voter suppression effort, thousands of accounts that could be involved in the effort on twitter. but one of the things that i see you pointed out is the compromising of the elections in 2020 happen the day after the midterms, so on november 7 we will be starting the process all over again. austin: correct. the fact is this is a never-ending challenge, and that is something that mark zuckerberg talked about and also something that jack dorsey would agree with at twitter. the problems will never go away, in matter how much infrastructure you put in place, no matter how many algorithms you have to protect against these problems. i think that what they are having to look at, look ahead to, is how to manage the challenges. would you do when they discover
something slipped through the cracks. how safely can they protect the platform in the aftermath. and along the same lines, at what point do you get to, i guess the sort of situation where you just have more users comfortable with the idea that this platform is going to be vulnerable the more you give it data, that is a part of the day-to-day of running a social network the size of facebook. oren: i think the opportunity is -- the fact it is so predictable that we know on wednesday hacks will start to influence the 2020 election, that gives us the opportunity to take advantage of it. these are not sophisticated, they are totally predictable and all it takes is a little bit of will and to smarts to get in front of it. we should look at that as part of the opportunity to take advantage of these incidents from destroying our democracy and society. emily: ok.
♪ emily: the most influential tech investor from russia is not concerned about facebook and election meddling. yuri milner was an early investor in facebook and twitter, and after selling those the stakes he went on to invest in spotify and airbnb. we spoke with him at length from the awards ceremony in mountain view, california on sunday, the
so-called oscars of science, not just backed by yuri milner but also mark zuckerberg toward achievements in math and other sciences. i asked him if he felt the investment and exposure the sermon provides has really helped move the science forward? yuri: we believe this helps with public acceptance with science as public achievement, and we want to become --we went to provide a platform for scientists to become celebrities, similar to entertainers and athletes. we all recognize, we only need to look at social media to realize that scientists are not being celebrated. they are doing amazing things, but nobody knows about them. that is our number one goal for
this prize. the second goal is to inspire younger generations to choose a science as a career. and i think that we are making progress there as well. emily: of the prizes awarded tonight, what are the discoveries you are most excited about? yuri: well, i would say maybe -- i mean, they are all exciting -- the one i feel is very special is the physics prize, which is being awarded to jocelyn bell bernal, an incredible scientists from the u.k. and she made a seminal discovery of pulsars, special kinds of stars. and she was not quite recognized at the time of the discovery, and now the recognition is
catching up with her. emily: i am curious about your thoughts on the private space race happening now between elon musk, jeff bezos, richard branson, i know you have always been fascinated by space, so how do you see the private space race playing out? yuri: we have a couple of initiatives, too. we have one that is, as opposed to the ones mentioned by elon musk and jeff bezos, this focuses on interstellar travel, you know? they are focusing on the solar system. chemical fuel is the way to move around the solar system, but it will not work with interstellar travel. so the initiative we are finding -- funding, it is really trying to determine whether we have feasible technology to move different stars. and the distances are much bigger. and that is what we are working on. emily: what has been the progress? yuri: well, it is two years old, this initiative. we have made $100 million to fund the r&d phase. this will probably take more
years. and then we can tell you whether this is a feasible and realistic to achieve this objective in the next 25 years. emily: you are not competing with them necessarily. yuri: no, the universe is much bigger than our solar system. emily: if you could but -- put your bet on one of them, who would it be? yuri: they are all targeting different, they have different objectives, you know. elon is focused on mars, jeff bezos is focused on near earth orbit. and moving industries there and things like that. richard branson is interested in tourism. they are all different and spaces so big, so we need more of those. emily: you started this with
mark zuckerberg and you are an early backer of the facebook. facebook is in a sort of existential crisis right now, the next pivot toward messaging and video, the how optimistic are you towards this in general, given the saturation and privacy concerns? given the existential crisis. yuri: i do not agree it is an existential crisis. i think it is a little bump in the road. i think that facebook and instagram are amazing products. with more than one billion people each, so you cannot really dismiss it as an existential crisis. [chuckling] but i think that facebook always was and is an evolving system. and they have always been responding to challenges. and the challenges that they are
facing can be solved through a combination of human interaction, human attention, and artificial intelligence. so, you know, there are always bad actors who are testing different products. um, but i think i feel confident that this will be taken care of through technology. it is a technology company. emily: run by humans. who have to make the right decisions, right? does it concern you that the privacy, the hacking, the potential election meddling, the fact the founders of all the companies you mentioned have gone, one of them tried to start a delete facebook movement? yuri: everything should be put in perspective. if you look at other companies that do acquisition, the founders of those companies stayed for an amazingly long time, compared to other
acquisitions. it very often happens founders are gone in six months. but here i think that they have spent -- they stayed long enough to ensure continuity and tradition, and i think those products will do very well going forward. emily: do you think facebook and twitter are living up to the expectations of people living in democracies? users living in democracies? yuri: well, democracy is an open system. it has this amazing, incredible achievement, which is called free speech. and there will always be bad actors who are abusing this gift that, uh, has been given to them. emily: i know you have tried to keep your head above politics, but the geopolitical tension, has that made your job more difficult as a bridge between russia and a silicon valley?
yuri: i have never been a bridge between russia and the silicon valley. and i never wanted to be. emily: but in a way you have. yuri: i do not know about that. emily: you created connections and a relationship. yuri: i built a company in russia. i think that this company is doing exactly what other social media has done around the world, meaning this company gave voice to dozens of millions of people. uh, and then i started investing globally in places like china, india, the u.s. we have been fortunate to call some good investments. so i -- i think that it is not about building bridges, but i think it is about pursuing global agenda.
that is the way that i see my mission. and by the way, science is another platform which is intrinsically global. and our investments are completely business driven and uh, i think that it is spread out around the world roughly proportionate to the senate -- significance of technology which is being built around the world. emily: so if someone said, do you believe the russians meddled in the election, how do you answer that? yuri: i am reading the same newspapers you are reading, so i have no special expertise. emily: softbank has a lot of money in the tech ecosystem and the saudi government has a lot of money in softbank so there is controversy around it, given the murder of the journalist jamal khashoggi. do you think it is a problem softbank has a somewhat money in the tech space? yuri: i think that we should be
-- so much money in the tech space? yuri: i think that we should be judging people based on the laws and the global situations that were at the time when they were making those investments and decisions. so going forward things may be different. so i think that, you know, people are learning as they go. and we -- we have -- the last time we have been taking money from russian investors with 2011. emily: and you made a choice. yuri: many things have changed since then. our investor base is very global since that time. emily: andy made a purposeful decision to not take -- and you made a press forceful decision to not take money from russians. yuri: we made a decision to diversify our investor base.
our investments are global and it is logical for us to have a very global investment base. emily: you have invested in facebook and alibaba and flip cart, what do you think is the next big thing in technology and where is the next big thing in terms of the hot region for tech investment? yuri: well, if you look at the previous 10 years, if you add the u.s. and china, that would be 90% of all the value created in the internet. europe is around 3%, the rest of the world is around 7%. so logically speaking, you would think europe should be doing much better in the future. sort of catching up with the u.s. and china.
i think that china can increase of their share, as chinese companies go global. and i think that it is not inconceivable to see more value coming from chinese companies. emily: more than in the u.s.? yuri: well, that remains to be seen. but i think the amazing tech u.s. companies have enjoyed in the last 15 or 20 years was based on the fact that those are global companies. emily: my interview with dst global founder, yuri milner. he said the next big thing in tech he believes will be artificial intelligence. more from the breakthrough price later this hour. and we have another interview ahead. in japan, reaping the benefits of in on this investments in technology. softbank far exceeding estimates. sun has been remaking the company from a telecom operator into a tech investment firm with
a $100 billion vision fund. but masayoshi son began his press conference by addressing another topic, questions about the murder of a saudi arabian journalist and his relationship to the country. >> i met with the crown prince and saudi officials. i raised our concerns with them and i asked for further clarity on the case. they said they are taking this very seriously. emily: so he said he pressed the saudis to get to the bottom of the killing of the government critic, jamal khashoggi, by saudi arabia's agents and hold the guilty countable just accountable, however he said -- guilty accountable, however he said that they will continue with the negotiations with the saudi government because of the country's dependence on saudi oil. follow us on twitter. this is bloomberg. ♪
♪ emily: the ibm ceo announcing is buying $3 million in company stock, one week since their 33 billion acquisition of red hat. the company committed to buying back $4 billion worth of shares. and the world biggest paid service a spot if i will buy back up to a billion dollars in stock. this after their fourth-quarter forecast fell short of estimates. spotify stock down more than 25% since hitting its peak in july. up next, apple changing its holiday plans. the company no longer ramping up production for its budget iphone. we will have more on that, next. plus the fda approves the first direct consumer genetic test that aims to tell you what drugs will work best for you, made by 23 and me.
♪ emily: this is "bloomberg technology." apple may be having second thoughts about the popularity of its budget iphone. the company is said to have halted in production boost for the iphone xr from foxconn and other production lines. apple shares and those of its major suppliers fell on monday on the report, only adding to concerns about the outlook for its biggest product category. for more we are joined by an analyst who has a buy rating on apple with a price target of georgia $35, and our bloomberg tech reporter joining us from los angeles. mark, what do we know? mark: there is a report in the nikkei overseas indicatin they are cutting production lines.
and i am a bit surprised these reports are not already built into the stock price. if you do a google search on the nikkei iphone water cuts he will see results ranging from upwards of four or five years back. it is an annual story. i think it is a mix of what the publication is looking for, combined with adjustments apple makes after the initial few opening weekends of new iphone releases. emily: water, what is your reaction to the report? walter: he profiled the fact this has been going on for years. the company invited this, to a certain extent. some of these things have been ignored in the recent years, there was not much of it going into this quarter. the company talking about not reporting units going forward, now they will allow stories like this to resonate in the market because there is no data point that will follow when the company reports and reports a unit number that may contradict
a lot of these, what i would call supply chain stories that tend to emerge before the quarter. they have not done themselves in the service by saying they are not going to report units, because that actually helps to temper the impact that stories like this have had on the stock in some of the recent quarters. emily: i think i remember of the years many times talking about these reports on production when it comes to apple. any little bit of information analysts and investors, we fixate on it -- mark, what does this say about the popularity of that keeper iphone in particular, which is kind of a new strategy for apple? mark: right, it is possible this could be another swing and miss on the low end of the market. apple tried this before with the sc, discontinued after 2.5 years. earlier this year, they tried it with the 5c. i would be not much surprise if
this is discontinued in a couple years if they get the functionality they are bringing down in cost throughout the rest of the line at that lower price. this is all about bringing these out at lower prices and eventually things me in the middle and the fun will not be necessary. emily: water, what is your outlook for this holiday quarter? walter: the flip side of the argument is also that the 10 s and max are selling very well. and last year when there was a belief that maybe the iphone 10 crossing over $1000 was going to limit some of the attractiveness of it, it was actually a great phone that sold in each of the quarters going forward. so it could be the outlook into been positive, because this is a reflection that customers continue to gravitate to the higher price phones, even though you may not see unit growth, you will not be anything if they do not report it anymore, you will see some revenue growth still just from the fact that they are getting their existing, very loyal customer base to pay more
and more each year for their products. emily: we never quite know what the mix of the iphones is, it is anybody's guess and we sort of try to deduce it based on the average selling price of the iphone. mark, you know, what do we believe the mix is at this point? do we have any indication of which phone consumers are really springing for? mark: last year, the price points were the same as this year, except for the additional high-end model. and we get some color there, and the comments that the iphone x was the best-selling every week, that lets us know, and walter could attest to this, that the mix is a skewed toward the 10s and max at this point, also they have had a much more runway this quarter. emily: how is your job going to change, now that apple is not going to be reporting the unit sales?
what kind of information will you be looking for it how will you draw your conclusions? walter: it is better for us, because we usually approach this from the demand side, the wireless operators, what are they saying? the lifecycle of a phone has been extending, apple sold maybe 231 million phones several years ago and they still have not reached that level, so the demand side analysis is actually benefiting and my peers who rely on the supply side, getting some of the data points, you now, out of confirmation later on, it will be more volatile for them because there is not as much i think that would data points to check where those, where that stuff is coming from. emily: mark, do want to get your thoughts on the development and trade war we are hearing now. even more compelling words from the chinese side, president xi hitting back at some of the things president trump has a
said. what will all this mean for apple? mark: it really just depends on how long these tariffs go on for. if you are looking at the political climate, the u.s. right now, it is likely that the tariffs if they come into play soon will be around for maybe two more years or six more years. thick about how long it would take a company that produces as many devices on an annual basis as apple to move their supply chain out of china to countries perhaps like malaysia and vietnam, that could take two or three years in itself. so i think apple will take a wait and see approach. see what happens if the tariffs are implemented, with the political climate will be in the united states. and while they are waiting, they are doing quiet measures against it. if you look at the price raises that they have been recently on some of the products, those are products specific to ones that will be affected by the tariffs. the apple pencil, a $30
increase. the mac mini, $300 increase. the macbook air, $200 increase. the leather cases they are selling to cover the new ipads, those have gone up significantly comparatively as well. so while they are waiting out the bigger picture, they are making small changes to avoid any short-term problems on their revenues and profits. emily: and those are significant increases. apple obviously had the supply chain entrenched in china it of the. chinese market is a huge part of apple earnings how concerned are you about the trade is situation? walter: there has been a lot of noise, this impacts a lot of the companies of that we have covered, and if any company has pricing power to pass it along to the customers, it is obviously apple. they have done this and they have gotten higher margins. now you are talking about a company that has ridiculously
high gross margins for a consumer lecture product. they are going into a quarter were they are facing currency headwinds, still guiding for strong margins. and again it is something that you have to always worry about and keep your eyes on, but again it is, and apple's case there is less worry given their ability to increase price. emily: ok, walter, thank you some much. mark, we will keep watching. staying on trade, the cofounder of alibaba do not hold back on his opinion of the current trade spat. speaking at the international import expo in shanghai, he called the trade war "the most of the thing in this world." coming up, 23andme may be able to tell you which medications will work fast. we will hear from the ceo on what the new tech will tell you. plus, amazon's quest for a second hike drying -- for a second headquarters location may be coming to a close. that is next. this is bloomberg. ♪
♪ emily: 23andme, known for its dna tests on genetic health risks, is adding the study of gene drug response to the list. last week, it won fda approval for a test that can tell customers how they will respond to medications based on their genetic profile. while some other tests are on the market, this is the first of its kind to get fda approval for direct consumer sale. why are some calling it dubious science? i sat down with the cofounder to discuss. take a listen. anne: people do not realize that every single one of us
metabolizes medication in different ways, so sometimes you can take a medication and it works great for you, i'd take it and it does not work great for me. or i have an adverse event and you are fine. it is an important science to bring forward. so this is step one. there will be many steps around this whole genetics and a drug interaction, so this is going to be step one. we do not have imminent plans of exactly when we will have reports at the customers. we will have to do more work with the fda, but it is an incredible step forward and my hope is, when i think about my dreams in five years, every single drug coming out on the market should have a component to the label, and you see that in cancer and cancer therapies, but not in the other medications. emily: what drugs are we talking about? anne: things like one on drugs like plavix. the presence -- the depressants, the statins. some people take them and get
muscle pain. so i guess secure check -- psychiatric is a big area. many medications have already known associations. plavix is interesting because the state of hawaii came out and actually changed the reimbursement laws because a much of the hawaiian population does not genetically respond to plavix. so they made statements specifically about it. that was an interesting case for me. but there is a lot of medications. when we look at numbers and when we have the tests out before we could see 30% of customers had a significant response. emily: what is your response to the controversies? some people are excited about this, others say it is dubious science, why is the fda approving this? anne: i think that is -- it reminds me, and we are so used to the controversy now, it is a
matter of time and education. the science is well-established and again i look at people like a professor at stanford, there is really great data out there about drug response. and not in everything 100%, but has not been widely disseminated. it is not often taught in medical school, pharmacists are a dispute on it, but that is a disconnect. so that is what 23andme does, we bridge gaps when there is information out there but not necessarily part of the medical world right now, we will help make it a reality. and we are totally sympathetic, the medical world will be out there making sure people know what to do with this. emily: but the fda says you cannot use it to make medical decisions. so how do you have it both ways? anne: it is a matter of time. there will be more validity work to do and we will be able to make that happen at some point, but without a doubt there are medications other today where we can say if you have this mutation you do not want to take
it because you might have a severe adverse event. emily: would you imagine the test will look like, what do imagine it will cost? 23andme -- anne: we want to make genetic testing affordable and we want to keep you engaged. i think if you have a genome, how will we keep you engaged on that? so in judge testing there is a lot of, you know, this is an area where you want to integrate in with your physician and integrate with your pharmacist, so we are thinking about additional ways we can make sure that this is most useful for our customers. emily: and what about the other companies working on this? anne: it is one of those things, i have been tweeting about this, there is a controversy where you have 23andme, which is a direct consumer company, and we own it. we do not require a physician or a genetic counselor, and we have gone to the fda to prove that people can understand the information, it is accurate and to save and people can understand it. but there is a whole world out
there that is not regulated, that is the laboratory developed test world. those are companies that put a physician on top, people do not know there is a physician there, and they are kind of able to avoid going to the regulatory, fda process. so the fda put out a warning the day after our authorization, specifically saying "warning" -- there are many other companies that have not gone through the fda. and some of those claims, i cannot speak about the fda, but some claims have caused concern. they have caused concern for our scientists. so we are a strong advocate. the fda has the potential for innovating and there needs to be one system that regulates all of these companies. emily: one last question. you work so closely with the government and you probably have more insight into this bridge between silicon valley and washington, more than other companies might, how has that
relationship changed under the trump administration for better or for worse? are you concerned about the future of technological research, or no? anne: that is a great question. in some ways it is hard to look at the specific political environment for me because there are a couple things that have happened. it is clear this is an administration that is not want to regulate. that is very clear. at the same time we have had issues that have come up with facebook, google, etc., that clearly show that there are unintended consequences of these services. so it is an interesting mix, because it is an agency that does not want to regulate, but now there is some kind of push to regulate. so in that technology world
there is definitely -- things will change. in the health care space, i have not seen it. i think that the commissioner of the fda has done a fabulous job of trying to enable innovation and push companies through. so he has been a great job. emily: are you doing anything for the midterms? have you been active? anne: i try to support at the federal level. but my town is actually quite political this season. and so i feel like i get everything from the school district to clearly, you know, the interesting senate races. i am on pins and needles. we will see what happens. it is an important election and everybody needs to vote. you are either part of the solution or the problem, but if you did not vote you have no business complaining anymore. emily: 23andme ceo and cofounder, anne wojcicki. amazon says it will announce the location of a second headquarters by the end of the year. why all eyes are on virginia. and in europe or they may not pick just one location, but split their headquarters between two. this is bloomberg. ♪
♪ emily: the debate over the digital pack in the european union continues with a finance ministers meet in brussels to discuss. the proposed tax would be applied to those companies with total revenue of $860 million and eu revenue of the $57 million. it will come into effect in 2021, if no solution is reached. well, more than a year ago amazon announced plans for a second corporate headquarters, it said could bring in $5 billion in investments and over 50,000 new jobs. rumors have been swirling with amazon not giving any hints. now the wall street journal is reporting that they plan to split the second headquarters evenly between two locations. according to the journal, the new plan would divide the workforce with 25,000 employees in each city, this coming after reports amazon progressed to late stage talks with a small group of communities, including new york, dallas and crystal springs, virginia. spencer, what do we know?
spencer: not a lot more than what we knew when they narrowed it to 20 cities. a flood of news over the weekend. it was reported crystal springs was a front runner, many people thinking about the d.c. region because it is a power center, a good place for them to be especially with the antitrust conversations bubbling up. and the latest news it could be split between two cities, which there have been hints about that previously from amazon. they have even said that the overall process, those cities that do not get the second headquarters, it is still an opportunity to make relationships and do research for other things, like the film -- fulfillment centers and data warehouses. they are still looking. this is like playing the lottery, i it is -- if it is a big jackpot and get in on office opoll you are -- pool you are
likely to share the prize. emily: it is interesting the washington post reported the scoop, the paper being owned by jeff bezos. and in it, amazon dividing the second headquarters there, you have jeff bezos in the town near where the president is essentially throwing bars, periodically. spencer: the d.c. region is one where they had three places. they had northern virginia, maryland and the city of d.c. itself, all three among the 20 finalists. so does the splitting of the headquarters between two locations mean that it can all be in d.c., split among those jurisdictions? or are we talking about two different labor pools? that is an important thing to flesh out at this point. emily: what do we know about new york and dallas? spencer: new york, the big thing
about new york is obviously the labor pool. it has the biggest out there. and the other thing new york has the amazon might crave is up -- obscurity. you can blend in. in seattle, it has become the bogeyman of urban woes. it is blamed for traffic, skyrocketing home prices leaving people homeless and as such, but nobody blames new york city's problems on any one particular company. people blame new york city problems on new york city, so that is one thing that could attract them there. dallas is a simply in texas where it is a business friendly environment that could have its appeal to amazon, given some of the backlash it has faced in seattle on things like a head tax and homelessness and that sort of thing. emily: amazon has a said they will make a decision before the end of the year. once that is decided, what is
the timeline? when with a new headquarters come to fruition? when within no employees be hired? spencer: that has not been clear. they have set a long-term trajectory of investing $5 billion and hiring 50,000 people over 15-18 years. so they were looking for a place where they could immediately slide in. so one thing they were looking for was space immediately. how many of those people would be hired out of the gate is unclear. but long-term they were looking at 50000 and $5 billion over 15-18 years. emily: ok, spencer soper in seattle. we will keep watching. a blizzard facing fan backlash, the company and often a new mobile entry into the diablo franchise, called diablo a mortal. but the gamers were not keen on the move away from the pc's. many took their voices the social media and added as much
as 413,000 this likes on the game's youtube trailer. shares fell as much as 6.9% in monday trading. and that does it for this edition of "bloomberg technology." tune in for our special election coverage on tuesday evening. we will be live with all the latest developments as they come in and have special coverage on how tech is impacting the election. it will be a late night. this is bloomberg. ♪
yousef: our top stories this morning. president says he is confident china deal will be done. it is the hot topic. we are live throughout the show. stocks.asia-pacific how much do collections matter for the market? companies and countries around the world that dodging sanctions on iran will hurt. yousef: