Skip to main content

tv   Bloomberg Technology  Bloomberg  October 29, 2021 5:00pm-6:00pm EDT

5:00 pm
♪ announcer: from the heart of where innovation, money, and power collide, in silicon valley and beyond, this is "bloomberg technology" with emily chang. ♪ emily: coming up, mark zuckerberg thinks he has seen the future. it is the meta-verse. it is a rebranding enough to get content creators and customers
5:01 pm
on board? plus, how the supply crunch may steal christmas, apple and amazon results, diving into the $6 billion loss in sales for apple and how it could lose more. shares in twilio plummeting, down 17% in the biggest one-they drop, but analysts still positive about the long-term potential. we will talk with the ceo. first, the markets. stocks ending up, despite those results from apple and amazon. walk us through. kriti: record highs for all indices. big tech coming off earnings. not hitting the s&p 500. i want to start off with big tech movers. they have gained a bit when it comes to microsoft and facebook.
5:02 pm
what hasn't gained is apple and amazon. earnings is going to be the key piece of the equation. if you look at macro, use salt yields lower. you saw breath higher. i want to dive into that. ed ludlow can take us into the details. ed: the numbers speak for themselves, make a cap falling -- mega cap falling. apple and amazon. amazon morning higher input costs labor. what is interesting, both stocks down by 2%. earlier, amazon was down as much as 5%, biggest drop since july, and apple down by the most since march, but both stocks recovering. some green on the screen.
5:03 pm
look at this chart. we have a new king. microsoft now the world's most viable company by market cap, overtaking apple on the but also microsoft has had a great run, it's 11th consecutive quarter of beating estimates. let's talk about the company formerly known as facebook. over five days, down. we get this drop off in earnings, concern about advertising linked to apple's changing. somebody pulled a canvas sheet off the sign and facebook has a new name. the stock was higher for the last two sessions. we will go through it later in the show. the question is, how long does the transition take, and how long until meta makes money on
5:04 pm
the meta-verse. what a mouthful. emily: and how long to call facebook meta? it would take a long time to get used to it. thank you. it is all about the social network rebranding and expanding ambitions to the meta-verse. >> starting with the most important experience of all, connecting with people. emily: the social media giant announcing its new name after days of speculation. the company is in the middle of scrutiny over safety and content issues. will the new name and focus change its reputation? i'm going to start with the dean of global business at tufts university. thank you for joining us. what are the odds that meta can
5:05 pm
make a monster pivot to a totally new business and change its reputation? >> odds are low. that is my bottom line, but that it will make a monster pivot. it has made a pivot in terms of changing the name, and i heard that big sigh from ed. there is a collective sigh that several of us are releasing as we hear this, and a sigh and i role as to -- eyeroll is to the wisdom of this rebranding. there is the rebranding and a change in the underlying business. the change in the underlying business has been around a while, going back several years. so what is different is this new branding. a new business, a totally different model for what used to
5:06 pm
be cold facebook is many, many years away, if at all. i actually think the actual business of meta his doomed for -- is doomed for many reasons. emily: there are concerns, talent issue, reputational issue -- do people still want to work at facebook? yes, 40,000 smart, talented people work there, but i understand the latest controversy that has weighed on morale heavily. >> absolutely. you can hear that from ex-employees who valued the time it facebook, and current employees as well. meta stands for to die in one language, but i don't think this is the death of facebook, as the previous chart shows, doing extremely well financially, so
5:07 pm
it is not the death knell of facebook, but the model of the meta-verse is still not a robust one for many reasons. one is the talent issue just talked about. people are not joining facebook with the same vigor and enthusiasm as they used to. the smartest are staying away. we also have an announcement sometime back where they said they would be looking for 10,000 new technologists, not from the u.s., but from europe, so that suggests they are actually looking for talent in places where facebook's name is not as toxic as in the u.s. so that is worrisome if they don't have the talent. second, if they do have the talent, history shows us that it is difficult for a company like
5:08 pm
meta to divert enough resources to this new thing that is unclear, does not deliver revenues, and clearly has no clear market. another reason why this will be a very difficult road to travel is the business model itself. currently, this company knows how to do one thing. it brings in eyeballs and collects data on those eyeballs and sells advertising. the plan for the meta-verse is to go beyond the advertising model. this is not a leadership team that knows how to do that. emily: let's talk about leadership. i'm curious, do you think mark zuckerberg can still be in charge? >> no, the best thing mark zuckerberg can do is to step down. it is clear that even if he steps down, he will be pulling the strings, because of his ownership stake in the company,
5:09 pm
but the first thing he can do, even the face of the company today, is so closely associate with him, he needs to step down. emily: thank you so much for joining us. i appreciate your pointed commentary. in other news, the fda pave the way for children five to 11 years old to get pfizer's covid vaccine. the fda cleared the children's doses, third of the amount. 28 more children in the u.s. could be eligible for vaccinations as early as next week. one more regulatory hurdle remains. tuesday, advisers to the cdc will make more detailed recommendations about which children should get vaccinated, and a final decision expected shortly after. coming up, microstrategy, the ceo talking about earnings and how it has amassed almost 9000
5:10 pm
bitcoin in the last quarter. that is next. this is bloomberg. ♪
5:11 pm
5:12 pm
♪ emily: it is not just investors celebrating the bitcoin surge, microstrategy surging 24%, validating the decision to triple down on the asset. for more, the cofounder and ceo in early bitcoin investor michael saylor off of the latest results for the company. look, her $7.3 billion valuation, your bitcoin position is worth $7 billion. what does that say about how
5:13 pm
people are looking at your company? is it more than its bitcoin investment, and why? michael: there is ferocious trading in the stock, nearly $500 million today. we are getting a lot of attention from investors. we appreciate that. microstrategy is a leveraged come along bitcoin plate, and an enterprise software company. investors are trying to evaluate how to separate the two businesses and our growth prospects in either. our strategy with bitcoin is we acquire bitcoin with equity when the market timing is right, sometimes with the debt, and sometimes cash flows, and it has worked out well for the past 12 months. we put $3.1 billion in two bitcoin, and our position is worth more than $7 billion now, so i am pleased with the macro trend and how it is working. emily: obviously big moves last
5:14 pm
week, coming down this week. what do you read into it? michael: it is bullish. great statements out of the senate, support from congress, support from regulators, two etf's coming online. you read about etf's coming online in australia. the etf action is bullish for the stock. i think all the regulatory clarity will be really good for bitcoin. emily: there is still no spot etf, and that depends on gary gensler. much does it matter? michael: i think everybody is perplexed that we are late with this, but i think the writing is on the wall. there are 40 different etf applications in place. in time, over the next 12 months, we will see more and more etf's and more options.
5:15 pm
if a spot etf comes to the market, it will be good for bitcoin in general and everybody involved in the bitcoin ecosystem. emily: you know, looking into robinhood results, there crypto trading dropped almost 80%. it was kind of astonishing. i spoke with the cfo who told me that perhaps crypto trading had normalized. i wonder what you make of that huge change in volume. i know it is just a window into robinhood, but i wonder if it signals broader interest or hype around cryptocurrency? michael: we have some cyclicality. it is natural. q1 was a big quarter. things slow down after the china equities. -- china exodus. it is heating up now. you can tell with the various coins. i don't think we have seen the last of crypto volatility in crypto enthusiasm.
5:16 pm
i think that in time that we will see more cyclicality. emily: you think more volatility is ahead? michael: um, i just think this is the most exciting thing going on, right? the entire crypto world is attracting a huge amount of capital, attracting a huge amount of talent, attracting a huge amount of attention, and on saturday afternoon what else is there to talk about, the bond market, gold market, equity markets are closed, but crypto is moving. bitcoin is changing. twitter is on fire. and youtube is working. i think it is a tailor-made asset class for the 21st century. emily: what do you want to see when it comes to stable coin regulation? michael: look, i think the u.s. has the ability to make u.s. dollar the world reserve digital currency, and there is a norm's
5:17 pm
demand for dollars in africa and south america and asia -- enormous demand for dollars and africa, south america, and asia. it is clear the best chance is something like tether or circle, there is $100 billion between those two coins now. the entire market is waiting for regulatory clarity, and when they get clarity, it is possible for these private stable coins to grow 10 to 100. we could see $1 trillion going to $10 trillion, and it would be good for the u.s. dollar, the u.s. world reserve currency status, and it would move the entire state of technology forward by leaps and bounds. emily: curious for your thoughts on chips in particular. i mean, so many people thought it was a joke, and who is laughing now? michael: you know, there are
5:18 pm
different segments of the market. there are the savers who want to buy a reserve asset like the point. there are the technology and funds that want to invest in the nft platform, and then there are the specter daters -- speculators with the new meme coin. it is all part of the crypto world right now, and it is what makes it so interesting and exciting. i don't think it would be the last one. emily: how would you compare it to dogecoin? michael: i have no opinion about one coin versus another coin. i stay in my lane, emily. bitcoin. that does it for this edition of "bloomberg technology." emily: so, look. michael: bitcoin is my lane. emily: let's talk about your bitcoin lane. we have seen a massive crackdown in china. we are expecting waves from that shock to impact the bitcoin
5:19 pm
ecosystem in the u.s. one of the interesting things we have been talking about is the talent flow out of cryptocurrency companies because u.s. regulation has remained uncertain, and there are these other companies that potentially have more certainty. do you think that will have a negative impact on the industry and the enthusiasm we have seen over the last couple of years? michael: well, i think the china crackdown was the best thing that ever happened to bitcoin, because the entire bitcoin mining business moved from china to the u.s., in the u.s. became the world leader in bitcoin mining, so that was a good thing. i think, in fact, regulatory certainty became clearer for bitcoin, that the crypto world outside of bitcoin is waiting for clarity on stable coins, security tokens, and defi, but the bitcoin world is all about digital property, and we got that clarity. the clarity was support for
5:20 pm
bitcoin from the senate, congress, the regulators, and the acknowledgment that bitcoin is digital property in part of the western technology stack. it will be critical to the support of and the spread of the american values in western technology, just like the english language, just like the u.s. dollar, just like google and amazon and facebook and microsoft, and so, that china crackdown is a good thing for bitcoin. emily: michael saylor, always appreciate you kicking off another exciting session, i am sure, that trading over the weekend in cryptocurrency. the microstrategy cofounder and co-ceo. coming up, supply chain issues cost apple $6 billion in sales in a disappointing third quarter. coming up, plans to reclaim those sales during the critical holiday season. this is bloomberg.
5:21 pm
5:22 pm
5:23 pm
♪ emily: the u.s. and taiwan are working to secure semiconductor supply chains, according to the u.s. envoy to taipei. a request for information has faced resistance and south korea and taiwan, with a concern about a possible leak of trade secrets. apple lost about $100 billion in market value thanks to thursday's results. the message from tim cook to investors, the holiday season will be difficult. no thanks to supply constraints. tim cook: for this quarter, we think the primary cause of
5:24 pm
supply chain-related shortages will be the chip shortage. it will affect, it is affecting, i should say, pretty much most of our products currently. emily: i want to bring in mark gurman. what does it mean for apple? will it get worse before it gets better for apple? mark: absolutely. they said they took a 6 billion dollar negative revenue hit for the fourth quarter because of the chip shortage and other issues. essentially, tim cook was saying if not for the chip shortage, we would have at a record q4 porter. he sang the negative impact will be larger than $6 billion. apple will have a year-over-year gain in overall revenue. last year, they reported $111.4 billion in revenue, an all-time record for the holiday quarter. analysts are calling for one hunter $20 billion, or were before -- $120 billion.
5:25 pm
you can imagine they will fall somewhere between those two numbers. those are huge numbers. that is growth year-over-year, but not as big as tim cook, apple, and some investors and analysts would have liked to see , given how strong the portfolio is, how much demand were seen for the high iphone 13. emily: what is apple doing to fix the issues? can they? mark: tim cook was defensive when an analyst asked about the supply chain strategy. he was basically asked, is it your fault you moved all final assembly to china? but the reality is more nuance. they source components from all over the globe, and if one component is missing, one chip, that will impact the entire output of china for these new devices, so he was pushing the
5:26 pm
blame on the supply chain partners. he said they are working with supply chain partners to mitigate the problem, pumping up the chips from other sources, basically saying they are doing what they can, and basically, it is not our fault. it is the fault of the world. emily: tim cook is the architect of apple supply chain strategy. should you order an apple product now? should you expect to get it now? mark: they will get it. i'm seeing apple watch delivery estimates at the end of december, with some models unavailable. i would keep refreshing to look for in store pickup today or tomorrow to find one. emily: mark gurman thank you for that update. coming up, twilio took a hit, after projecting a loss for the current quarter. we will talk about that with the
5:27 pm
ceo. this is bloomberg. ♪ this halloween,
5:28 pm
xfinity rewards is offering up some spooky-good perks. like the chance to win a universal parks & resorts trip to hollywood or orlando to attend halloween horror nights. or xfinity rewards members, get the inside scoop on halloween kills. just say "watch with" into your voice remote for an exclusive live stream with jamie lee curtis. a q&a with me! join for free on the xfinity app. our thanks your rewards.
5:29 pm
5:30 pm
♪ >> looking back -- welcome back to bloomberg technology. i am in san francisco. a wild week in deed. a lot is thanks to big tech. lackluster learning -- earnings from apple and amazon today, so ending the week in the green with microsoft and alphabet chairs. another major ipo debuted this week. this is rent the runway debuting
5:31 pm
wednesday at 18%. dropping 18% since the debut. how much of that is related to broader tech earnings and the broader market sentiment? i want to hit some of this week's movers. outside of big tech come outside of ipo's, there is a lot going on. start with ebay, a story that hit a double whammy. first lackluster earnings. on top of that, concern about holiday shipping and e-commerce companies like ebay and wayfair taking that on the chin. ford, one of the sold-out performers outside of tech. that is a rarity in the quarter's earnings season. then you have a story interesting to me. an application software company looking to buy surveymonkey's parent company momentum global and taking eight when he 4% hit
5:32 pm
since announcing the deal -- taking a 24% 10 -- hit since announcing the deal. we will see how that potential deal actually turns out. lastly, facebook. even though we did have the major name change brand change to meta-, trading officially under that title december 1, actually ending lower on the week highlighting broader issues facebook has been kneeling with. emily: -- dealing with. emily: thank you. shares of twilio, which helps brands communicate with customers, plunging down 17%. a week fourth-quarter forecast and that a partner of its coo was unexpected area are investors missing something? joining me now is twilio ceo jeff lawson. what you think investors are thinking here? i they missing something? jeff: the market decides what the market wants to decide i'm a but we had a fantastic quarter.
5:33 pm
we have this model that is a real palo -- a real power force because it aligns us with customers. that has fueled are very strong dollar base expansion rate and growth, which organically was 38% in the last quarter and in organically 65%. we have guided to a 30% annual growth rate for the next three years. i don't see anybody guided to three years of annual growth. that's because of the confidence we have in the business everything from our perspective looks fantastic. we see a generational opportunity to help companies transform how they engage their customers in the digital world. digital has been massively accelerated because of the last 18 months. companies are investing more than ever before. we did a survey of enterprise decision-makers. 95% will maintain or increase their digital budget communicate
5:34 pm
with customers in the coming years. that is the acceleration the pediment has brought. business is doing great. emily: what about the short term? are you seeing impacts of supply chain issues and the advertising pullback as a result of supply chain issues? do you expect that more through the holiday quarter? jeff: we are a digital business and loss of our customers are digital businesses too. the bigger trend we are seeing in the market's privacy. if you look at what is happening with the apple platform or cookie changes going on, privacy changes, whether technology or because of government, are really changing the way companies talk customers. these changes are the right side of history. as consumers, we want privacy in these products. so, companies have to stop relying on shady third-party data sources and do the fundamentals of business, to
5:35 pm
earn your customer, get to know th serve them well, then, make them repeat, loyal customers. that requires first party data. it requires you to understand your customers based on every click, every squirrel, everything they have bought, everything they have returned and use that data to do a better job of marketing relevant products to them, personalizing the website, and everything else. that is what the digital joints do well. that is what amazon does well. that is what netflix does well. every company needs to do that in twilio's platform enables them to that. -- and it twilio's platform enables them to do that. -- and twilio's platform enables them to do that. in a world of privacy, that is more important. emily: facebook has a complicated relationship with privacy and with apple. you work with facebook. what is your take on the name
5:36 pm
change? the bet on the meta-verse? just in general, controversy continues to follow the company. i wonder if it will continue to follow the company whether it is called meta-or not. jeff: there has been a lot of experiments by analogy companies over the year in this kind of technology. so far, they have not caught on and been mass adopted. that is the case with new technologies. mark has put forth a bold vision. we will see if it plays out. emily: twilio engage, what can you tell us about that and the future of marketing at twilio as part of that organic roast you were talking about earlier? jeff: when we look at how companies are reaching customers online, the latest marketing tools started with a campaign. they can't send and it last -- they hit send and it blasts to everybody. instead of starting with a campaign, start with the data. who are our customers?
5:37 pm
what are the relevant messages to send them on the right channels at the right moments. get the right message in front of the right person at the right time. to do that well starts with data. that is why segment, the number one customer data platform we are our guest -- last year, is such an integral part. they figured out how companies can take first party data and turn it into an understanding of the customer and with twilio engage and execute campaigns perfectly tailored to each customer. i think this is the future of digital marketing. if you don't personalize communications to customers and make them relevant, they click on subscribe. when you lose -- they click unsubscribe italy: you think people will unsubscribe -- emily: do you think people will unsubscribe from facebook? i am curious if you think that what we have seen over the last couple of weeks will come a long term, her this company that has been one of the giants -- hurt
5:38 pm
this company that has been one of the giants. jeff: i think privacy is an issue of our time and consumers and governments are rightly demanding that chronology be responsible with customer information. this is the site of history twilio has always been on. we only deal with media that the data is complete owned by that company and the way they use it is correct. i think privacy is a core issue of our time. i think every company will have to start aligning to the realities. this is what consumers want. this is what governments want. this is what our society needs. emily: jeff lawson, i appreciate you stopping by. world leaders are starting to arrive in glasgow ahead of top 26. -- cop 26. we will get a look at what the next decade will look at in the fight against climate change.
5:39 pm
i will be speaking with the bezos earth fund ceo andrew scheer about what to expect and what it is like working with jeff bezos. that is next. this is bloomberg.
5:40 pm
5:41 pm
emily: we are seeing 25 years of u.s. climate, and says. next monday, the 26 kicks off in glasgow. i caught up with bezos earth fund ceo andrew steer. i asked for his top priority will be in glasgow next week you
5:42 pm
there have been 25 years -- next week. there have been 25 years of climate conferences and 26 is around the corner. what are your expectations this time? andrew: the number one word is ambition. we are not where we need to be. about 120 countries put in new commitments for 2030. about seven of those are improvements. but we are not going to get to where we need to get to, which is a housing -- how -- halving of greenhouse gases by 2030. emily: we are well off track when it comes to public and private finance for climate change. you say that needs to increase 13 times faster. how do we do that? andrew: governments need to step up. they have not yet.
5:43 pm
on the private side we are doing better than we thought. $100 billion is under asset. even in the united states -- $100 trillion is under asset. most commercial banks have signed up to move their overall portfolio to net zero emissions. emily: now that you are at the helm of the bezos earth fund, how and where will you put that $10 million to work? andrew: this is what we call the decisive decade. our recent scientific report shows that unindexed 10 years we will -- in the next 10 years we will get enough carbon and greenhouse gases that we will get over the 1.5 degrees limit where it starts getting really dangerous. this is the decade. we have gotten basically pivot this decade. that means we have got to have revolutions that are very exciting. we are asking, which should we be in? how should we engage in them so
5:44 pm
that change becomes your is this double and unstoppable? that is the job of flowline soapy -- of philanthropy. emily: how is jeff bezos involved in the day-to-day operations of the earth fund? how often do you talk to him? andrew: regularly. he is very interested and it is very exciting having conversations with him area emily: what -- with him. emily: what are your conversations with jeff focused on? i am interested in how he is approaching this differently than other institutions you have worked for. andrew: if you are as successful as jeff and many other leading industrialists and entrepreneurs, you are dealing with somebody deeply intelligent and deeply analytic and deeply passionate about what he is doing.
5:45 pm
it is extremely exciting. emily: 2030 still the target date for the distribution? or that an initial some in the fund could go on after a decade? andrew: the attendant jeff has is that we will disburse these funds in -- the intention jeff has is that we will disburse these funds in this decisive decade area so, every single dollar dispersed not only to earn its way on its own particular project or particular result framework, it needs to leverage other change. the point is to get a kind of up spiral of hope. what we call an ambition boom. we get the private sector. the government sector. civil society basically egging each other on, encouraging others to go to the next step. i think that is exactly what we need in glasgow next week.
5:46 pm
emily: $10 billion is a lot of money but is that enough? andrew: i think it is remarkable that somebody should give away this amount of money. i think we should use it with great stewardship. we just need to see generosity of spirit all around, frankly, from all of us, including our governments. we need to really go the extra mile now. there is an opportunity to change the world. the future could be much more exciting than this. emily: could you give us any hints about where the next big investment might be or the areas of interest? andrew: we need to do three things. we need to protect what we still have. we need to restore what we have lost. and we need to transform some systems in the economy.
5:47 pm
one month ago we committed $1 billion for the first of them. the next week we will be announcing equivalent programs for the other two, restoration and food system transformation area emily: how will your mother -- transformation. emily: how will you measure the success? andrew: if you do not measure it, you will not treasure it. you will not manage it. i will give you one example area last year the bezos earth fund put $60 million into a satellite system that will measure land use change. we will be able to see everywhere on the earth, not only how land-use is changing, but, how much carbon is embedded in that going up in these high and how much is coming back down. it is called carbon flux.
5:48 pm
this could enable a carbon market. there was a lot going on at the moment that we are involved in. on the voluntary carbon market. corporations are saying we want to do the right thing. but up until now a lot of those investments have not been high-quality. they protected the forest for a few years. it is gone they planted trees. they did not last. we will know down to the ton of carbon, down to the 30 meter by 30 meter resolution, we will be able to basically look at the carbon flux. you can imagine a carbonate market really taking root. emily: do you see these investments offsetting amazon's carbon footprint? the airplane. the trucks. the vans. it more needed? -- is more needed? andrew: i don't work for amazon so you would have to talk to them about that. but amazon is, along with more
5:49 pm
than 100 other companies, committed to go net zero 10 years early area -- early. emily: you would gather experts from around the world and ask them what stories you should be watching. what stories should we be watching in 2022? andrew: that is a wonderful question area whether or not the decisions that were made and announced in glasgow are being implemented. it is very tempting when one goes to glasgow that it will be nearly 30,000 people there. you have over 100 heads of state, some of the most powerful ceos in the world will be there. to make grandiose statements and commitments. what we need to do is say ok. it is now january the first, 2022. where are we on this? we need to monitor, monitor, monitor and be accountable.
5:50 pm
emily: the president and ceo of the bezos earth fund. you can catch the full conversation at coming up, facebook's name change goes viral. i look at some of the meta-highlights from across the web. >> it is time to adopt a new company branded to encompass everything we do. our company is now meta-.
5:51 pm
5:52 pm
♪ >> sales shrinking for the fourth straight quarter at huawei. smartphone equipment business continuing to struggle after
5:53 pm
being blacklisted by the united states. huawei is looking into other areas from smart mining to electric cars. it was a roller coaster week for facebook which ended with a new name. officially changing its name to meta-but not with the internet having something to say about it. here is our own ed ludlow. you were in front of the original facebook sign. it paid off. because, you saw the change happen. ed: we keep calling it facebook. we need to make the change. meta-. they covered up this famous sign. everyone knows it. there have been reports they change the name. we were all asking, are they going to change their name? there is area it was so blatant. -- there it is. it it was so blatant. for hours security guards would
5:54 pm
patrol around the sign before the unveiling stopping members of the public going anywhere near it in case the name leaked. emily: and you are the only one there? ed: for hours. as if no one believed it would happen. and then everyone showed up. emily: jack dorsey was one of the first to tweet. meta was one of the names we were thinking it could be. referring to itself or the conventions of its genre. self-referential. ed: he responded to another twitter user that said meta was referenced to a dystopian future . he clearly does not think much of it. emily: aoc is also tweeting "meta as in we are a cancer to democracy metastasizing."
5:55 pm
ed: aoc is one of many on both sides of the aisle that have criticism of the facebook parent company but is an avid user of the platform. her instagram page has 8.7 million followers. it is a means she uses to communicate with voters. emily: many of facebook, instagram, whatsapp critics, also use the platforms. therein lies the paradox. this is my favorite. wendy's is changing its name to meet. -- meat. ed: a good take on meta. i am an avid social media user. you are an avid social media user. this happens. you have had facebook for more than a decade. this is a big moment in technology history. 2021, the world immediately
5:56 pm
results to memes, to ridicule. emily: you could make the argument that facebook created this whole dialogue. ed: yes. it was self-inflicted, ironically. emily: it was very meta. ed: mark zuckerberg making this presentation, quasi-virtual. there are bookshelves but also barbecue sauce. emily: that has to be sweet baby ray's, his favorite barbecue sauce. we use that in our household now because mark zuckerberg recommended it. ed: it is reassuring that in the virtual world we will have our favorite condiment. emily: ed, thank you for your reporting yesterday and getting that amazing shot. ed: it was a big moment.
5:57 pm
emily: indeed. thank you. that doesn't for this addition of bloomberg technology. -- that does it for this addition of bloomberg technology. david westin will be up next for wall street week. this is bloomberg.
5:58 pm
5:59 pm
6:00 pm
>> the administration keeps its economic agenda don't -- alive. earnings keep chugging along. this is bloomberg wall street week. i am david westin. larry summers on his inflation debate with treasury secretary yellen. >> i have a norma's -- enormous respect for secretary yellen. >> new ceo jose minaya on his way of hedging inflation. >>


info Stream Only

Uploaded by TV Archive on