Skip to main content

tv   Bloomberg Technology  Bloomberg  October 12, 2021 11:00pm-12:00am EDT

11:00 pm
announcer: from the heart of where innovation, money and power collide -- in silicon valley and beyond, this is bloomberg technology with emily chang.
11:01 pm
emily: becoming a hub for crypto. we will talk to the miami mayor, what he plans to do to keep up the momentum in south florida. while facebook sits in the hot seat, a longtime investor david sacks says facebook isn't the baddest guy of the social media bunch, but cable and other platforms are more polarizing, addictive and raunchy. there is some sparring with sacks later this hour. we will get to all of that but first, let's get a look at the markets. kriti gupta and ed ludlow, take it away. kriti: another day of selling when it comes to major averages, the s&p 500 ending in the red. outperforming unless you are a chinese adr,
11:02 pm
alibaba baidu, they , underperformed. look what in the green. biotech. biotech up .1%. but let's talk about the big macro issue at hand, and that is inflation, specifically commodity inflation. you can start to see the correlation between stocks and oil, which tends to be pretty positive. now turning negative, telling you the surge in oil prices are a negative for stocks. rates are kind of a negative to some of those big technology companies like facebook, microsoft and amazon. bloomberg intelligence putting out a report that the most exposed to rate increase risks will be your social media companies. snapchat, pinterest, these are the companies you want to watch when they are starting to talk about rate increases. you saw a hint of that inverse dynamic today with rates dropping a little bit and these names ending higher on the day. whether that pattern continues
11:03 pm
is something to watch. ed, what are you watching? ed: let's get to the breaking news -- apple is cutting its production target for the iphone by as many as 10 million units. the stock down by more than 1%. this isn't just about apple but the supply chain. apple telling its manufacturing partners that chip suppliers like broadcom, texas instruments are behind in getting key components to those apple handsets. it's interesting because if you look at some of the laggards on tuesday, the supply theme is commonplace. micron and western digital both down by more than 3.5%, after a report that forecast its memory chips will fall in price going into the fourth quarter and we will see a slowdown at the same time, we got data overnight about the pc market. hp down more than 4%. tutor sales grew at the slowest
11:04 pm
rate since the start of the pandemic. the wide component shortages and chip shortages, it's not just the iphone handsets still feeling the heat from the chip's shortage, but it is widespread throughout electronics. emily: moving on to dig into some of that apple news. the company battling a potentially major production challenge. bloomberg has learned apple is poised to cut its projected iphone 13 production by as many as 10 million units. this is largely due to the ongoing chip shortage. what exactly is happening here? mark: this is a story with my colleague, reporting apple has told suppliers it's reducing its production targets for the balance of 2021 from 90 million units to about 80 million units. about 10 million less than anticipated. this is due to apple not
11:05 pm
receiving components from key suppliers. broadcom and texas instruments in order to produce those units. what this indicates is apple is having a shortage of these new iphones where they cannot produce as many as anticipated. if that means they are going to have enough to sell to everyone, that remains to be seen. emily: apple just announced its having another event coming up. what do we know about that? will it affect other apple products? mark: next monday, apple will hold an event called the unleashed event. this will be another virtual affair given the ongoing impact of covid. they will announce the first revamp to the macbook pro in five years. i can't tell you how many people have asked questions about this. when the new macbook pro is going to come. if i was given a penny for every question i've gotten about the new mac pro, i could get when it -- get one at no charge. people want this, they are anticipating it and it's the
11:06 pm
first high-performance mac with an in-house apple-designed processor. emily: talk to us about what apple has coming up this year. every holiday season is a big holiday season for apple, but dealing with these production challenges is a new wrinkle. mark: if you look at their website or visit and apple retail store, you know the vast majority of products in term of their major devices are facing supply shortages. the macbook pro, the current model is facing issues as are other macs. the apple watch series seven, you see wait times quoted into december or january depending on where you are buying it. if you order an iphone 13 pro, you will be quoted a shipping time over one month from now. likewise, if you visit the retail store, the new iphone is hard to come by. this is expanding to other devices. the big challenge for the balance of this year is apple going to figure out how to get the new devices into consumers
11:07 pm
hands. the other question, beyond the macbook pro and existing devices, look for new versions of the airpods to be introduced as well. emily: what devices from other companies will be impacted? obviously it's not just apple. mark: google is going to announce the pixel six on tuesday, a day after apple's announcement. we will take a look if they will have a supply chain crunch related to that project as well. amazon announced a slew of new devices a couple of weeks ago, including the home robot. a new echo. those have shipping times quoted at the end of next year as well. clearly this is a problem affecting all major consumer devices. emily: what are you watching for next? mark: the next big thing i'm watching for is looking into next year about apple's augmented reality and virtual reality headset plan. that's the next major launch from apple.
11:08 pm
they were hoping to discuss that product publicly this year. that's not something they want to introduce virtually. this is the first new major category in seven years, they want to make a big splash, so it will be introduced next year. this is an interesting story for consumers, developers and the industry about how apple is going to be able to tie everything together and take a category of device that is really niche at this point. try to take it mainstream. it's going to take some time for apple to pull it off, but they are certainly going to try. emily: thank you so much for that update. mach 2 continue to follow. coming up, miami's big bet on a crypto. tech and more. we will be joined by the mayor of miami to talk about his plans to make a new crypto hub out of his city, next. this is bloomberg. ♪
11:09 pm
11:10 pm
11:11 pm
emily: welcome back to bloomberg technology. i'm emily chang. i want to talk about tesla in china -- a few tech stories we are continuing to watch. tesla overcoming a broad slump in overall car sales. overall shipments of china-made cars rose for the second month in a row. where than 52,000 were sold. meantime, car sales fell 17% in september. plus, general motors reached an agreement with lg over a
11:12 pm
recall of battery. the south korean company will pay $1.9 billion. the manufacturing defect had a -- an increased risk of fire. stay with us after this break. ♪
11:13 pm
11:14 pm
emily: the grade miami tech rush started with a tweet from the mayor asking how can i help in response to a venture capitalist who openly wondered about the prospect of living silicon valley to miami. this kick started a new boom of sorts in a state known for real estate and hospitality businesses more than it tech scene. at the miami mayor is betting big on a growing tech community,
11:15 pm
especially crypto, announcing the city's own crypto currency, miami coin. let's dig in to all of this now with mayor francis far as himself, who joins us live from miami. thank you for joining us. i want to start with your sales pitch. as a tech destination, what do you think miami has on silicon valley right now? >> we have a lot of things. we are number one in the nation in new tech jobs, number one in the nation of new tech job migration in the last two quarters. we've done over a billion dollars of tech closings of venture capital deals in the last eight weeks which is , about a 200% increase pre-pandemic. we have all of the momentum. we moved about a trillion assets in the city of miami and created over 8000 jobs, and average salary of $120,000. we have a significant runway for
11:16 pm
growth which is missing in some cities in america. we can grow 10 times in our physical landscape from what we are today. many urban cities in america cannot say that. emily: miami is still well behind san francisco, new york and other areas in terms of venture capital funding. it's not even the biggest tech job creator in florida. that's jacksonville and tampa bay. how do you see miami changing the dominance of san francisco? >> the figures you show are from 2016-2020. those figures are accurate for that timeframe. we are headed into to pay 22 and the how can i help tweet is at the end of 2020. what kicked off this new era in miami, it is interesting that we continue to grow and see that progress and it is evidencing itself and our deal flow, the
11:17 pm
number of jobs we are creating and the fact we are number one in growth for tech jobs. we feel very confident we can keep this momentum going through tech month, which will have the bitcoin conference from l.a.. we will have the largest tech conference in the southern part of the united states. emily: more money is moving to miami, but more money is moving to a lot of places right now. there have been reports of a feud between new tech folks from miami and the existing tech community as well as some of the miami establishment. how do you reconcile some of those groups? >> i think that's natural. when you have new people coming to the city, there'll be some issues like that. i had a lot of conversations
11:18 pm
with what we call the miami og's. that was reported a few months ago, that has changed dramatically in the last few months. the integration has turned the corner, and we are starting to see more collaboration between older miami tech which is helping to redefine the city. emily: you have proposed allowing the city of miami to invest a portion of funds in bitcoin, but cities are not permitted to invest in crypto in the state of florida. how much success are you having lobbying tallahassee for rule changes, and how much of a priority is this for you? >> it's a major priority for me because i want to differentiate ourselves as a crypto capital. we are going for a request for proposal and october to allow our employees to get paid in bitcoin, to our residents who pay for fees and
11:19 pm
taxes if the county allows it. the third thing you are talking about, which is the state allowing the city to hold bitcoin on its balance sheet, which if we would have been able hold it from the resolution on our agenda, it would be up 30% or 40%, so i would have looked like a genius back then. but that is the way it works. emily: miami coin is a novel way for people to donate funds to the city. tell us how you are thinking about pending regulation and if you are at all concerned about what could be coming from the sec. >> what is great about miami coin is it is it corn-based technology. it hashes the technology through stocks which is the only smart contract that can happen at the bitcoin blockchain. the protocol calls for 30% of the mining reward to go into a digital wallet.
11:20 pm
we are not even at the 75 day part and its $16 million, so it is significantly more than the last time it was reported. what we are seeing is a community of people who want to invest in bitcoin through stocks and miami coin, and want to do it in a way that supports our mission of creating a miami that is here for everyone. emily: you have an election coming up on november second and you are best known for your efforts to bring crypto and big -- bring tech to south florida, but what about miami residents who may be hurt by tech and crypto jobs coming in, migration, rising rent. why should they vote for you? >> i don't think they are going to be hurt. obviously i think they're going to be helped. one of the things you mentioned as our economy that was driven
11:21 pm
often times by hospitality and construction, two of which are often times not high-paying jobs. part of what we want to do is differentiate our economy and provide high-paying jobs and better opportunities for our residents so they can have better outcomes and live better lives and be able to provide for their families and children. that is something that will work to my benefit as a candidate. the people of miami have a vision not just for miami today, but miami tomorrow. i was blessed to be elected by 86% of my residence, and i'm hopeful to get something similar this november in the next three weeks. emily: what is your level of interest in pursuing the 2024 presidential run or getting on the vice residential ticket? >> what is my current interest? [laughter] [laughter] my interest is finishing the next three weeks of my campaign successfully. if i do that, i will be blessed by my colleagues to be the u.s. conference of mayors president, to be the president of an organization all the cities of the united states beginning on
11:22 pm
january 3, and we are going to create an agenda for america in conjunction with america's mayors that will be something significant. beyond that, my term would end in mid-2023. only god knows. emily: speaking of that campaign, new york magazine has pointed out a number of the most prominent silicon valley transplants to miami were accused of wrongdoing in california, including someone accused by multiple women of sexual harassment. a report by myself. he donated to your miami for everyone pac and i'm curious if you are aware of this and if it is in line with your values? >> obviously anything that is sexual harassment is not in line with my values or in line with the people of the city of miami. my understanding is that those are allegations made against that particular individual that were not substantiated.
11:23 pm
it is a difficult situation in the world we live in because we live in a world where allegations are made on a regular basis and it is hard to draw the line between substantiated allegations and not substantiated allegations and decide how you are going to interact with people. emily: they were substantiated by multiple women who i talked to. i will send you the report. i want to talk about your platform because you have positioned yourself at odds with governor desantis on a number of issues, including masks. if you were to run in 2024, what would your platform be? would you run on crypto platform? how would you differentiate yourself from a ron desantis or even a donald trump. >> first of all, i haven't decided i would run in 2024. i think that person is going to have to be a person who is a problem solver. the next generation candidate.
11:24 pm
that person is going to have to be someone with an innovation agenda, an agenda that appeals to all of america. an agenda we can be proud of, and that will support people across the economic spectrum, whether they be homeless, someone seeking a better standard of living and dealing with some difficult issues we have struggled with as a society like income inequality. whoever the person is, they are going to have to have a concrete vision about how to take america into the next generation and make us the most competitive country in the world. emily: your police chief was just suspended amid some very serious allegations, you did speak about that earlier today. some of your critics say you prefer to be out there talking
11:25 pm
about fun stuff like tech and crypto rather than take on some of the issues every politician has to face. how do you respond to that? >> i'm talking about it now to you. i respond to that by saying i'm always available and open to talk about issues. certain situations require certain responses depending on circumstances and the situation with our chief is extremely delegate and unfortunate because he came in with very high expectations, someone who had a very qualified record of achievement in multiple departments and you always want it to work out. unfortunately, it hasn't worked out and it's a situation that is best for all parties, including for him and his family to go in another direction. emily: take it 10 years out, where do you see miami in a decade based on the changes you're making? >> miami could be one of the most globally significant cities.
11:26 pm
i think it could be what i call the capital capital, or if you want to build a business and innovate, there's no better place on the planet because we are at the intersection of new york, south america, silicon valley and israel in the middle east. we are strategically located in a position very well for the future. we have the tremendous ability to grow, we are inviting innovators to come to our city, and that's paying dividend in terms of high-paying jobs. we have reduced poverty in the last 10 years by 50%. we used to be the fifth poorest city in america now we are the 115. we have the lowest homeless rate since 2013. we will hopefully be one of the cities in america that puts out a functional zero plan to get 20 -- to get to zero homeless, which is i think a very noble endeavor and one all cities should strive for. emily: there is certainly a beautiful view behind you. i will give you that. we will have to check in with you hopefully sooner than a decade from now. thank you so much. >> hope so.
11:27 pm
emily: coming up, china's tech industry in a tailspin. we will hear from grace capital partner edith young about which companies are most at risk. that's next. this is bloomberg. ♪
11:28 pm
11:29 pm
11:30 pm
emily: welcome back to "bloomberg technology." i'm emily chang in san francisco. let's get back to the markets and the china regulatory crackdown. a blockbuster year, telling investors it's all about china. blank check companies are spooked and have changed their tune. ed ludlow is here with the latest. ed tell us about the about-face. , ed: it's the industry crackdown weighing on investor sediment. -- sentiment. there are stocks with the
11:31 pm
intention of later merging with the mainland china tech company, now there they can about its viability going forward. the other is the ftc is requiring more documentation than ever and more disclosures, basically explaining the risk of doing business in mainland china. we have for spac's here that in recent months have amended their filings to remove references to the word china. in one example, they amended their filing last month not only to remove the reference to china but said explicitly under their articles of association, they are prevented, prohibited completely from doing a deal with the chinese company out of concern it may not go that well. the question is, what is the timing? is this an overdone concern? if we bring up the hang seng index, it has been a rocky ride.
11:32 pm
morningstar is out with a note saying this could be the most undervalued sector in terms of chinese i.t. stocks. some the assumption that all the announcements we've had from regulators about crackdowns for specific industries have come. we don't expect any going into the fourth quarter. on that morningstar assumption, if that is the case, we have bottomed out on the hang seng index and this could be an opportunity with chinese stocks going into the fourth quarter, but it does raise the question, especially with these spac-sponsored, should they go back into mainland china? look at some of the startups, potentially merge with them and allowing them to list on u.s. exchanges. it's a question for some of our guests. emily: thank you so much. with the tech terminal continuing to unfold in china, how are venture capitalists responding? is plowing money into china still a safe bet? i'm here with edith yeung and i'm curious how this is impacting your strategy and where you are putting your money.
11:33 pm
edith: personally, i take a very long term view on china. hearing all these crackdowns on a daily basis, i want investors to keep in mind that china is still the second largest market in the world, 1.4 billion people, $15 trillion gdp. especially when i focus on than the venture space, just look at sequoia china. they did 96 deals in the last 90 days. so things are not slowing down per se, but everyone in china needs to play by the rules. does it really matter that alibaba, the pboc, no one can really outplay the chinese government. having said that, on spac, what is the latest going on with spac -- one of my popular
11:34 pm
companies, they are going on a spac on nasdaq. very very soon. that is going to happen. emily: would you -- have you changed your strategy at all given the china crackdown? are you putting in just as much money as you would have more are you changing where that money goes? edith: i really want to go back to china. because of covid, i've been here for two years. not able to go back makes it really tough for me to invest in china, mostly from from a raise capital strategy is , to focus on early-stage input early support on infrastructure software. right now, the world is so big and everybody is more distributed remotely, so it doesn't matter if they are in china or not.
11:35 pm
but most of the investment lately has been in silicon valley, we invested in data bricks and ftx. emily: it is interesting you mentioned ftx because they moved their headquarters from hong kong to the bahamas in part because of this crackdown. over the long-term, how do you see this playing out in china? do you see the chinese government easing up on some of these restrictions or if this is the long-term strategy, how do you think that impacts the tech ecosystem long-term? edith: technical systems need to play by the rules. it doesn't matter how big you are, you have to comply by chinese law. especially with the data privacy protection law, it's a key thing. as an investor, you need to be aware of that. i don't think we should drift our investment strategy just because what is happening in china. it's something we have to keep in mind. there's tons of upside because the market is so big, but at the
11:36 pm
same time, there could be some feeling because of what is going on. i do think there are certain industries in particular more ancestry -- interesting preventer, particularly semi conductors and health care because it's not it's close to consumer data, which is very sensitive in china. therefore, being an investor, we need to be super nimble and pay attention to what is going on in china. emily: what about crypto in particular? trading in mining has become illegal in china. how do you see the crackdown there impacting the landscape and investing? edith: china always has a love-hate relationship with crypto. 2008, when i was still -- china was the number one in interest of crypto mining and
11:37 pm
trading. and since 2018, 2017 there were ipo, 2018 2018, we started to see crypto to crypto trading. we started to see finance, crypto crypto training. ended 2019 until today, crypto mining is all band. -- is all banned. the biggest difference is, when the first crackdown happen, it really impacted prices. today, it's about $55,000 equivalent for bitcoin. the crackdown in china in some sense is rebalancing the cryptosystem and longer, that's a good thing for the blockchain ecosystem. now china's influence is getting less and less. emily: edith yeung grace capital
11:38 pm
general partner. thank you so much. reducing your carbon footprint while using it service. it's all about fighting carbon chain. our tech reporter is with us next. that's coming up. this is bloomberg. ♪
11:39 pm
11:40 pm
emily: a new push by google to help you reduce your carbon footprint while using its services. of fighting climate change. i want to bring in our bloomberg tech reporter now. what does this mean in practice? can we search on google and be green? nico: google announced last week
11:41 pm
ways for consumers to be green by taking more environmentally friendly routes and flights. today at a conference in the bay area, it announced their corporate clients will be able to see how many carbon emissions they are using with their google cloud efforts as well as google flagging to customers if they have projects that are idle using a certain amount of carbon emissions so they can take those projects off-line and save their emissions. in addition to that, there is a google earth engine that will show how climate change could affect different parts of the earth which might tell a company whether it's a good idea to invest in that place. emily: what's the significance of these updates? we are hearing from a lot of corporations about how they are being greener or trying to be . how do google's efforts compare? nico: google's ceo likes to say some of these efforts may sound small, but it does all add up.
11:42 pm
google itself has a goal of becoming 100% carbon free by 2030 and this effort is to bring customers along for the journey who may not have the resources of google to focus on sustainability as much as google has. emily: what's next here? we are following google cloud in a big unveiling their conference. nico: google cloud is trying to continue growing. they are hoping this can be a differentiator between them and amazon and microsoft. it's also announced renewed partnerships with salesforce and customer deals with wendy's, general mills and siemens energy. it is doing more work to let customers use their cloud services wherever and however they want to, even in their own data centers. emily: thank you so much for your reporting on this.
11:43 pm
the netflix co-ceo is defending the decision to air a controversial dave chapelle comedy special frittering -- featuring trans jokes in name of artistic freedom. on monday, they suspended three employees who were crashing a meeting, including a transgender worker who spoke out against a special and a twitter thread that went viral. a netflix spokesperson told bloomberg that no employees were suspended because of their tweets specifically and the company encourages disagreement. coming up, facebook isn't really all that bad -- we are going to speak with the former paypal cfo who says cable news is more polarizing. there are a lot of things that are worth. we will talk to him, next. this is bloomberg. ♪
11:44 pm
11:45 pm
11:46 pm
emily: facebook still in defense mode. frances haugen confirms meeting with lawmakers in europe as well as a facebook oversight board in the united states. on the other side of the coin, some don't see facebook as the biggest bad guy. former paypal ceo david sachs tweeting cable news creates more polarity than facebook. the process the agenda. hollywood and fashion advertising create more body images. in fact, he argues facebook is less divisive than twitter, less violent than youtube, less addictive than tiktok and less raunchy then read it. it is only the whipping boy now because it ran highly quotable studies on itself. in other words, it's sin wasn't -- was introspection. david sacks has come prepared to spar a little bit. as always, good to have you.
11:47 pm
i want to start here -- where do you think facebook gets a bad rap? david: first i want to challenge every aspect of this story, starting with the idea of the so-called whistleblower. what crime did she blow the whistle on? the term whistleblower was invented to describe an employee that blows a whistle on a crime. what exactly did facebook do wrong? what facebook seems to have done a study the impact of its product on users, and, for that, they have become this whipping boy. what they have been accused of in terms of promoting divisive or polarizing content, isn't that every single night of cable news? in terms of promoting body image issues, isn't that the business model of hollywood or the fashion industry and advertising? how is facebook uniquely to blame for any of these issues? all it seems to me as they studied it.
11:48 pm
that's basically the essence of what is unique. they studied the issue. emily: they studied the impact of its product on children and found that its products do indeed harm children but to our knowledge didn't do anything about it. if that's not where you draw the line, where do you draw the line? david: i think you are jumping the gun on that. there are some data points that have been passed around through the echo chamber, but let's look at what those data points actually were. the biggest one, the one upon which this entire body image issue rests is the idea that 32% of teen girls said facebook made their issues worse. but if you look at the way the question was worded in the survey they conducted, it began with if you are experiencing body image issues, does instagram make it worse. 32% said yes.
11:49 pm
in other words more than two , thirds of the team girls who weren't experiencing body image issues said it was not making worse. some said it was making it better. the other here lacking here is a benchmark. is 32% a bad number? if you ask that exact same question to the universe of teen girls experiencing body image issues, do reality shows make you feel worse about your body or magazine advertisements make you feel worse, i bet they would score worse than 30%. so we don't have those data points and instead are jumping to conclusions about the idea that facebook or instagram is evil. if they never conducted that survey, we wouldn't be talking about this. emily: no one is saying reality shows or tiktok or fashion magazines are perfect.
11:50 pm
the issue is facebook. if you look at facebook, do you see anywhere they are at fault? david: yes. there are a lot of things i've called facebook out on, starting from the fact -- facebook has made a lot of bad decisions related to free speech but we should understand the agenda here is not to promote more speech, it's to engage in more censorship. that is my objection to what is happening. i don't have a specific agenda to defend facebook. i believe free speech needs to be defended. what is that all about? you had the so-called whistleblower on 60 minutes in less than 36 hours later, she's testifying in front of the senate judiciary committee. that just doesn't happen. congress does not move that fast. government does not operate that quickly. she's been working with the senate judiciary committee for weeks and that committee has hauled zuckerberg up no fewer than four times. in order to lecture him on it is
11:51 pm
to censor. that is what this is all about. there is an agenda of censorship. the senate judiciary committee is not allowed to censor a free press. the constitution protects us from that. but the constitution does not guarantee a free newsfeed. they can regulate the newsfeed. that is what this is all about, an end run around the constitution to regulate free speech by the senators who have stated their intentions explicitly. it's not a conspiracy theory on my part. they have said they want zuckerberg and other social networks to take down more speech. that is what the agenda is. emily: do you think facebook can turn around its image with mark and cheryl leading the company or do they need a change at the top? david: i don't think they need a bigger change. i think they need to defend the principle of free speech. the reason i think they are in
11:52 pm
such bad shape right now is they can drift in terms of principle. as soon as you admit it's ok to regulate free speech, which is basically what they've been doing for the last few years, where do you draw the line? now the machinery of their social network can be co-opted i anybody who thinks censorship is ok. i think they should have defended free speech from the beginning. i don't think it's too late and i think it should start by pointing out the hypocrisy of all these calls for regulation. again, i don't see one thing facebook that has been accused of that cable news is not worse on, that hollywood is not worse on, that the fashion industry is not worse on, so why should facebook alone be regulated? if people calling for regulation want to regulate in a socially conservative way all these different areas of our culture, i can respect that as being consistent. i wouldn't necessarily agree with it. people making these arguments are not traditional religious conservatives. emily: i know you think algorithm issues get blown out of proportion, but facebook has
11:53 pm
a range from happy face, and they use those metrics to serve up what they think we want to see. is that better than consumers making their own choices about what they see on the newsfeed or whatever you want to call it or not? david: that is what they ought -- what the algorithm is doing is giving consumers what they want. emily: why shouldn't consumers have the freedom to choose? david: let me finish my point. the purpose of the algorithm is almost like a nielsen rating system that has been digitized and spat up. it asks what users respond to and that is the principal. the issue is there are people with an agenda want to replace your choice with what you listen to and watch with what they think you should listen to. that's what i object to. if i were to ask you or any
11:54 pm
viewer out there about their own facebook usage, i think what everyone would tell me is it's a mildly amusing divergence, they get some information out of it, there's a lot of noise. they certainly don't think it's a brainwashing machine. if you ask people about other people's usage, they would say this is a nefarious thing and people are being programmed. there is a sharp dichotomy about what people think about their own usage versus other peoples usage, what i would argue is we all understand our own usage. that is the truth of the metal. we have bent the narrative about other people's usage that's not really true. emily: we are not going to solve these disagreements in a seven minute segment. we will have to take this off-line, but i want to ask about the fundraiser you are hosting for florida governor, ron desantis, who is a very divisive figure and has made some choices that are questionable when it comes to
11:55 pm
public health. i know you don't necessarily agree with all of them, but why do you support such a divisive candidate, especially given the global health crisis we are facing? david: why is he inherently more divisive than gavin newsom? i would argue, words like divisiveness assume a normative baseline in which everyone agrees because they come from a certain information bubble and anyone who deviates from that orthodoxy is seen as divisive. i would argue there's a multiplicity of use and you are not divisive because you don't agree with silicon valley. emily: but why desantis over other candidates. we had mayor suarez who is on the show earlier this hour and they are on different ends of the spectrum.
11:56 pm
david: i donated to suarez, too. i like both of them. i like suarez because he's been extremely welcoming for the tech ecosystem in miami and i think that's a smart strategy. i don't get why politicians in san francisco don't do that. they are killing the golden goose. in terms of why i like desantis, he was the first governor to stop these insane lockdowns. he found the right policy on lockdowns which was to stop them, and he did it despite an extremely hostile media and i respect that. when someone takes the right position despite the hostility of the media, that is something i can respect. emily: we showed the invitation up there, so if anyone wants to participate, they now can. david: email me, it's going to be a fun night. emily: always good to have you here and appreciate differently -- the friendly arguing. thank you for joining us. that does it for this edition of "bloomberg technology." tune in tomorrow.
11:57 pm
we have a great show coming to you live from the goldman sachs builders and innovators conference with a host of fantastic guests, including the head of investment banking and reid hoffman. the maiden ceo. and paul davidson of clubhouse. you will want to miss it. i'm emily chang in san francisco. this is bloomberg. ♪
11:58 pm
11:59 pm
12:00 am
>> the following is a paid program. the views and opinions expressed do not reflect those of bloomberg lp, its affiliates or its employees. >> the following is an important paid program about humana medicare advantage prescription drug plans, sponsored by humana. announcer: life keeps changing, and so do you. but as your lifestyle evolves, is your medicare plan keeping up? does your health care company treat you as an individual or a number? a huma


info Stream Only

Uploaded by TV Archive on