tv Bloomberg Technology Bloomberg June 28, 2022 11:00pm-12:00am EDT
>> from the heart of where innovation, money and power collide, in silicon valley and beyond, this is bloomberg technology with emily chang. emily: i'm emily chang in san francisco and this is "bloomberg technology." big tech stocks continue to sink the nasdaq 100 dropping more than 3%, dragged down by amazon and tesla. this on top of a big bloomberg scoop that tesla just laid off hundreds of autopilot workers in another round of job cuts. we will bring you all the details. we will be joined by the most decorated u.s. track and field athlete of all time. olympic medalist allyson felix joins us to talk about her tech and investing play and how she continues to fight for women and moms as she retires from professional sports. it is the new tiktok for kids and it's got the backing of the nba. we will talk to the head of the
social network about their plan for kids and the metaverse later this hour. but first i want to get a look at the markets. big rout in big tech pushing stocks down as a new report shows americans are now more downbeat about our recession. take it away. katie: the gains of last week seem like a long time ago because it was another down day on wall street. the nasdaq 100 up there, leading the rout, down 3%. some of the biggest decliners weighing that big tech index, amazon and tesla both down at least 5%. a down day on wall street. another down day for the crypto stocks. we saw bitcoin decline 3%. what has been interesting in the script code drawdown is crypto stocks have been hit worse than the coin itself. you think about coinbase again today falling another 8%. you have crypto stocks
underperforming some of the more speculative areas of the markets that will be talked about as a monolith, i'm thinking ipo's. crypto stocks as a whole have underperformed all of that even. what has been interesting is the after hours movement. i've got my eye on pinterest in particular. the pinterest ceo is stepping down effective wednesday. he's going to be replaced by a google executive. that will be effective tomorrow. that was breaking after tuesday's closing bell. the stock rallied after hours as much as 9%. a 5% decline in the regular session. pinterest shares down 45% so far this year. the new ceo has his work cut out from. emily: a longtime payments veteran. we will talk about that later in the show. meantime, tesla is laying off more people, hundreds of workers on its autopilot team specifically.
joining us for more on this, our own ed ludlow. ed: in the last few hours, tesla shuttered a facility in san mateo where there were data scientists working on autopilot. basically the team was taken this video footage from tesla owners around the world who have a camera-based system and annotated it, adding in data the train the algorithm, use cases for self-driving, but improve the autopilot functionality. according to sources, they started with managers in the morning and by the afternoon they laid off largely the entire facility, which i'm told by one source is 250 people. emily: does this change tesla's priority for autopilot? ed: it could be seen as a negative headline but there are around of layoffs globally. elon musk told us last week that it is part of 10% of salary workers.
a real focus on ai, a real focus on software. it has been an area of priority in terms of hiring for tesla, especially in 2021. elon musk talk about the importance of data labeling and our software engineering fans will know what i'm talking about, but it grew too quickly. the folks on the assembly lines building vehicles, those he expects to increase. even though it is a 10% reduction in salaried, it is like 3.5% overall. emily: how is this impacting the workforce? is everybody bracing themselves? ed: i talked to a lot of sources, and in some cases similar to what happened with autopilot, the writing was on the wall. they were part of those teams where loads of folks were hired quickly. a fantastic column the other day was about how people were laid off who had only been there for
a few weeks. these are hard things, but it is the reality in a global situation like this. emily: the human toll on the autopilot team. ed, you will be with us later this hour. great scoop. i want to get back to the tech rout and bring in mark mahaney of evercore. the stories from companies like tesla don't help. amazon, which you cover, also driving the news today. what are your big takeaways? should investors be getting in or out? looks like we are losing mark there. -- mark: i am overseas doing my best to talk with as many investors as possible. we saw a recessionary risk in these stocks. last friday we lower numbers by about 10% for amazon. my guess is most consumer tech stocks need that kind of magnitude of haircut to earnings. you need that, you need earnings to come down because of recessionary risk, then you need inflationary forces to start
ameliorating. you need the first evidence that inflation is starting to come down. hopefully we will see that with the next report. tech stocks, you get those things and the highest quality may be safe to get in at buy. emily: what about a company like meta, which has dropped so much that folks are starting to think about it as a value stock? are we going to see warren buffett getting into facebook? mark: that is an intriguing idea, maybe. there are high free cash flow yields on the book. facebook, google, expedia, they offer 8% free cash flow yields. alphabet down on multiple bases, the lowest it has been about 10 years. amazon is sitting at a multiple, as low as it has been since the great financial crisis. amazon is a stronger asset than it was back then. the valuations are attractive but the numbers need to be reset.
take the multiples, add a point or two to them, those are probably the real multiples on recession estimates. first you need the cuts, also you need signs inflation will come down. one of the things that came out of the consumer survey today was consumers' inflationary concerns are the highest in a decade. interest rates got a rise. that always undercuts tech stocks or long-duration assets. emily: you also cover pinterest. ben silbermann, ceo and cofounder stepping down. pinterest has been facing growth issues. bill ready is coming in as ceo. what is your read on this? mark: this looks to me like a pretty drastic step, especially if you don't bring in someone
internally to take over. if you are bringing someone from outside the company in, you are throwing a lot of uncertainty into pinterest and the employee base. the stock gap in the aftermarket, investors are looking for any change. right now for us pinterest we are not buyers in stock. user base has been declining. unless a base can grow i don't think pinterest can work as a stock. they are following the tiktok strategy. they are introducing a short form video onto the platform. that is a work in progress. be careful about pinterest. until you get growth in users to recover, i don't think it is investable. emily: on to companies you cover, as we are going into a recession, which are you most cautious on? is it amazon, is it netflix given them trying to rework the subscription model and get into advertising?
where are your biggest concerns? mark: in consumer internet there is nothing recession proof. across consumer tech there is nothing recession proof. that said, there are some that are more recession resistant than others. google is probably one of the most recession resistant companies. advertising is one of the last things to get cut. cloud computing is close to recession proof on the business because it generates cost savings for the company. google strikes me as having the least risk estimates. it could still be a single digit cut. the most impacted will be retail, and i think about ebay, etsy, purely discretionary spend. those probably take the biggest potential estimates cuts. amazon is probably in the middle. we cut those estimates by 7%.
a 5% cut to estimates for the most recession resistant and 15% for the most recession impacted. those will be the heavily consumer discretionary is. emily: thanks for helping us try to make sense of it all on another down day with more layoffs. mark mahaney of evercore in london. coming up, the rise in cyberattacks. we will talk about the largest online attack ever recorded and cloudflare's role in thwarting it. this is bloomberg. ♪
how will your business adapt to change? you could hire an office full of peyton mannings. what's up, peyton? good morning, peyton. hold for peyton. they'd huddle.... welcome to the peytonverse. such a visionary. game plan... you go. no, you go! and call audibles... double our investment in omaha! omaha! omaha! omaha! or you could use workday. omaha. the finance, hr and planning system used by over half of the fortune 500. for a be-agile-like-an-mvp world. workday. for a changing world.
emily: a development in the case of a ransomware gang that recruited a former canadian government employee. that employee agreed to plead guilty in the u.s. to charges he worked with the digital extortion group, helping to rack up almost $50 million in illegal payments over the last few years. hospitals, law enforcement organizations, schools, all were targeted in these ongoing attacks according to the fbi. bloomberg's jeff stone joins us with the details. this is a fairly unusual case. what makes it so unique? jeff: what makes this case particularly unusual is we know a lot of these ransomware hackers, accused hackers, are typically based in russia or
eastern europe outside of the reach of u.s. law enforcement where they will be extradited. in this case it was a canadian government employee who was from quebec. he agreed to plead guilty to a tampa courtroom well within reach of the u.s. prosecutors. emily: how did he get involved? jeff: unclear. he worked for a federal agency until january that helped the government secure real estate. before that he appears to have had a conviction in a canadian courtroom for a drug related events, but the exact nature of his involvement with the group still is not quite clear. he may have been involved it appears based on court documents with some of the money laundering aspects of this organization. emily: $46 million in ransomware payments. how big of a dent in the broader scheme of ransomware attack's happening in the world? jeff: not huge. the ransomware picture is much
larger. netwalker is probably in the top five largest groups, probably number four or five in that figure. what is particularly meaningful about this group is they have been focused since the beginning of the covid-19 pandemic on health care organizations and schools, to knock them off line to earn as much of a profit as they can in a short amount of time. emily: a case we will continue to follow. meantime, cloudflare says it helped thwart the largest online attack on june 14 without ever getting a human involved. the company warns these attacks are getting more sophisticated every day. i am joined by cloudflare's ceo matthew prince. talk about this attack and how you stopped it. matthew: every day at cloudflare we are stopping attacks. what was unique about this one
in june was it took to a different level the size and scale of the tax and instead of compromising a bunch of household cameras and iot devices, essentially copper mines in clout instances. that is a worrying new trend. cloud instances have a lot more bandwidth and can do more damage. we have seen an uptick in these attacks, an uptick in size and scale, but what i'm proud of our team is we can stop just about anything thrown at us and we continue to do that every day. emily: it sounds like you are saying the attacks will only get bigger. how dangerous is the threat landscape you see ahead? what is the role of the ongoing russia-ukraine war? matthew: we as an industry expected attacks would take up after the russian invasion of
ukraine. while we did see some attacks specifically targeting ukrainian infrastructure, the number of attacks was much less than we would see in the usual time. emily: why is that? matthew: a lot of the attacks came from criminal gangs that often times shared individuals that were in both russia and ukraine. those gangs were thrown in disarray. in the last few weeks we have seen those attacks start to rise up again. it looks like government sponsored attacks. the other day, lithuania came under a significant attack. they turned to cloudflare to stay online. we helped protect them and gave their government infrastructure back online. while there was a lull immediately after the invasion, we are starting to see the attacks tick up and make sure everyone of our customers is fully protected and we stand ready to protect any critical infrastructure around the world. emily: why do you think attacks are just starting to pick up? is it a new level of organization after the initial invasion?
matthew: i can't answer that question. i don't know what's going on in the minds of the russians and what their strategy is. initially there was a lot of focus on what the ukrainian infrastructure would have happened. even when there was the invasion of crimea, or georgia, we saw many more cyberattacks in those times. we saw a lot of probing ahead of the event, which gave us real concern that an invasion was coming even before it happened. now there is starting to be what looks like some retaliation against countries that are standing with ukraine. lithuania is one of the countries. they were going to enforce some of the russian sanctions. i think that is a retaliation. across europe and the united states, those people providing critical infrastructure need to be ready for whatever may come at them.
emily: let's talk about how strong those shields are and if businesses are being prepared. businesses are being told to adopt this zero trust approach, authenticate individuals in and outside the organization at all times. are targets ready? matthew: it depends on the industry and sector. the good news is if you adopt the way a company like cloudflare and google has, this zero trust approach, that can protective. the best analogy i have had is it is a bit like how we used to build boats versus now. you used to build the hull of the boat as strong as you could, but if there was a leak anywhere it would eventually sink. a zero trust approach is like bulkheads in a boat. if there is a leak, the whole boat does not sink. what has been incredibly important is making sure those
organizations that need the protection are there to have it. that is why we worked with law enforcement and government officials to launch the critical infrastructure defense project where we offer our services at no cost to hospitals, water treatment facilities, the energy sector, because this is a heightened type of security. emily: cloudflare sits at an interesting intersection of data and privacy, which has taken on new significance in the event of the overturning of roe v. wade. i'm curious how you are thinking about this and have you seen an uptick in websites reporting to be a legitimate health care website but is actually run by an antiabortion group? what approach are you taking here? matthew: i don't know if we've seen any examples of that. we don't tend to be in the judge in contest in this. we have now run for several years something called project galileo.
as we saw the leaked opinion from the supreme court come out, there was an increased number of attacks targeting abortion providers run the country. we stepped up to make sure those providers were protected. we have seen an uptick in the number of people providing abortion services that are under attack and need our production. we stand ready to protect anyone providing those services around the world. if you need that help, go to cloudflare.com/galileo and we provide those services no cost to those organizations. emily: have you seen any change in traffic over the last week? this just happened on friday. what is the ongoing plan in a post-roe world? matthew: one, there has been a significant uptick in illegitimate traffic. people who are against abortion are seeing this as a vindication
of their ability to launch attacks and not feel guilty for it. obviously that is illegal in any circumstance and we stand ready to protect any of these organizations. on the other side we are seeing more people trying to get clarification and understanding what this means to them. the legitimate traffic is going through the roof. that is where cloudflare can protect not just against illegitimate attacks, but make sure these organizations have resources to stay online when the information they provide is so critical at a time of uncertainty like today. emily: matthew prince, ceo and cofounder of cloudflare. thank you for joining us and working through some complex issues. meantime, airbnb taking a more permanent stand on party houses. details on that next. this is bloomberg. ♪
emily: another story we continue to watch, airbnb has made it official, a temporary ban on house parties and events is now permanent. the committee stated the party ban became much more than a public health measure. so-called disruptive parties will be continued to be prohibited and those who break the rules could be kicked off the platform. coming up, track and field star allyson felix will be joining us. how she is investing to help women and moms and we get details on how she plans to spend her retirement after announcing this will be her last season as a professional runner. and get ready for a slew of new apple devices. bloomberg's mark gurman will tell us what to expect, coming up. this is bloomberg. ♪
millions have made the switch from the big three to xfinity mobile. that means millions are saving hundreds a year on their wireless bill. and all of those millions are on the nation's most reliable 5g network, with the carrier rated #1 in customer satisfaction. that's a whole lot of happy campers out there. and it's never too late to join them. get unlimited data with 5g included for just $30 a line per month when you get 4 lines. switch to xfinity mobile today.
will be in for a busy fall 2022 and first half of 2023. apple is preparing one of its most ambitious new product cycles, including four new iphone 14's, three new apple watches, a mixed reality headset, an updated apple tv, new pro earbuds as well as new m2 and m3 based macs. the iphone 14 pro will be the big new iphone story this year, adding a hole punch camera and always on display for ios widgets as well as a 48 megapixel camera on the back. the regular iphone 14 will be a lesser update, retaining the a15 chip from last year's models. the apple watch series 8 will have a standard flagship model, a rugged addition and a new low cost. the flagship models are likely to add a new body temperature sensor, but the bad news is the new variations are likely to
stick to the same chip performance from two years ago. the ipad is in for some big upgrades with the m2 chip coming to the ipad pro leader this year and students getting 5g and an updated processor. the m2 chip will also be coming to apple's mixed reality headset. that is due to go on sale next year alongside reality ios. speaking of the m2, apple is preparing several new macs with that chip. that includes the new m2 mac mini and m2 pro mac mini and m2 pro 14 and 16 inch apple pros. apple is also working on the m3. that is destined for an eventual update to the 13 inch macbook air, a new 15 inch macbook air. the company is working on a new 12 inch laptop. expect new airpods pros later this year with better audio
quality as well as a new larger home pod with a chip from the apple watch as well as updated display. you can expect new apple tv set-top boxes with an a14 chip. i'm mark gurman. this is power on. emily: bloomberg's mark gurman. you can sign up for mark's weekly newsletter at bloomberg.com. we talked a lot about women's reproductive rights in the last few days, given the supreme court's decision to overturn roe v. wade. my next guest has spent years fighting for equality, especially for pregnant women. as she looks to end her historic career as the most decorated u.s. track and field athlete of all time, allyson felix is spending time to help mothers and women of all ages succeed. she recently invested in one of the most fastest growing baby food companies that uses science to create its menu. allyson felix joins us now. it's wonderful to have you with us.
tell us about this partnership with yumi and why you chose baby food. allyson: thank you so much for having me. as an athlete and mom, there is nothing more important than what we put into our bodies and becoming a mother, my eyes were open to the harmful things we feed our children. i invested in yumi because they are changing the industry and everything is backed with science and rooted in that. it has been an equitable opportunity that they have two female founders that i wanted to support. emily: how are you thinking about this in the context of this nationwide baby formula shortage? you have a lot of moms who feel like they can't feed their kids. allyson: yeah, it's such a difficult time. mothers are dealing with so much, parents are dealing with
so much. here is an incredible company that is producing food and delivering it to your doorstep. it is all organic and vegan. just really love that you can get it directly to you. emily: you already have a successful athletic footwear brand that you started. talk to us about what makes it different from the other options and what your ambitions are here. allyson: i'm so excited about it. our footwear is specifically made to fit the shape of a woman's foot. we exist to know women, to hear them. we are excited to make products where women are not overlooked or an afterthought. women's feet are different and we should have. choose specifically for us excited to continue to grow our brand. emily: you announced pregnant women could return shoes that don't fit right earlier this
year. what do you think brands get wrong about pregnant women? allyson: i hope our maternity returns policy can set the tone for what should happen in the industry, because as a pregnant woman, your foot can change. what people don't know is that change in size can be permanent. we are offering your correct size, a return for free. we need to support women holistically and show up for them. here is another small way where you don't have to choose between motherhood and anything else. emily: you made headlines in 2019 with a famous op ed pushing nike to reevaluate their maternity policy. they listened and they changed that policy. i have to wonder what you are thinking now for five days after
this decision by the supreme court to overturn roe v. wade. what is your reaction? allyson: it's been difficult. anytime a woman's rights are taken away, it's hard. i'm a fierce advocate for women, a fierce individual who wants to fight on behalf. it's a long way to go from here but we are not going to stop. emily: what would you like to see companies do for women in this moment, whether they want to pursue an abortion or perhaps they want to keep a pregnancy in light of this law? allyson: i think it is a holistic approach and saying we are going to be there to support in every way possible. i think it's a great opportunity for organizations to be able to step up. emily: we just celebrated the 50th anniversary of title ix. you have been fighting for women's equality for so many years.
you are now dabbling in an industry, investing and tech, that has a history of inequity and women of color not being treated fairly, not being treated fairly as entrepreneurs. how do you think your work and what you experienced as an athlete can contribute more here? allyson: i hope to focus on underserved people who are not represented. throughout my career, being able to see representation, to see diversity and myself and others really inspired me. that is something that i don't want to stop. emily: i spoke with serena williams, who is also getting into venture. everyone is curious about her plans for but are meant. we know she's showing up at wimbledon soon. she did say tennis is hard and i'm always thinking about what i should be doing next. you've made this big decision, announcing this will be your final season as a professional runner.
what do you want the next chapter of your career to look like? allyson: it is hard when you've done something for your entire life and are so passionate about it. it is bittersweet but it is the right time. i will continue to grow saysh. i will continue to advocate for women and find more ways to support, whether it is mom athletes or women in general. i'm excited for the future and i am motivated and looking forward to what is to come. emily: what do you think it is about your experience as an athlete that makes what you have to contribute so unique? how do you think you can bridge a gap that so many people yet have not been able to bridge? allyson: my entire career i've had to deal with a lot of adversity. i can relate to a lot of different people in many places.
i'm drawing on that experience, on my own journey and hoping to be able to bring that to this next stage of life. emily: allyson felix, thank you for coming here to help us help you start that next chapter. thank you for taking the time to join us. meantime, disney has extended the contract of ceo bob jpeg for three more years, given a vote of confidence to a ceo who has battled much controversy. chapek transformed the company into a streaming powerhouse while also battling with florida, the home of disney world, over a new law discussing gender in school. coming up, a social network that is teaching kids about nft's. and it is being backed by the nba. more on what that is, next. this is bloomberg. ♪
looking to expand into augmented reality and the metaverse. founder and ceo zak ringelstein joins me now for more on all of this. you are a former teacher. how exactly does this work? what are kids doing on zigazoo? zak: such a pleasure to be here. zigazoo was started out of our own home. my wife and i have three boys. we were trying to figure out at the beginning of the pandemic what to do with them and we were bummed out that the only thing you could do with your kids online was basically play a game or watch or binge tv, knowing we are going to give our kids a bit more of a digital diet during the pandemic. we wanted our kids to reach the top of the economy in teaching and creation. we wanted them to be creating. you want them to be creating in a healthy environment with friends. people thought this was kind of impossible. we realized it wasn't impossible
and we could use the construct of project-based learning, which is one of the best based on researched ways to give kids purpose in schools. we have everybody from the nba to nickelodeon, today we launched a channel on zigazoo. there are all these great challenges that kids can do. taken be something for nickelodeon on zigazoo saying what would your face look like if you got slimed? now we have the nba saying what would your best slamdunk look like? emily: now you are getting into nft's. what are you teaching kids about nft's? zak: obviously there are a lot of ways to do web3 wrong. crypto gets a bad rap, but the reality is it is the future of
the internet. web3 is web3 because it is after web2. we want to get ahead of the game by providing opportunities for kids to get to know this technology. it has the potential to be a creation based technology where kids are creating their future and blockchain technologies will allow kids to do so. we have been able to bring on some of the biggest talent in the world to create their own nft's. we are giving kids opportunities to build art and show them off to their friends. we are providing other blockchain technologies that allows kids to be creators in their own studio and to start to think of themselves less as consumers and more as creators in this environment. emily: i have four kids. the thought of my kids on tiktok for kids is a little bit terrifying, let alone my kids in the metaverse.
why shouldn't parents be worried about this? zak: there are all these vocabulary words that are thrown out there to create fear. the reality is 50% of kids are on social media that you would not want your kid on. social media is here to stay. we think the best solution is to create opportunities that are safe, educational, constructive, and do that in a way that blends the world of education and entertainment. that is exactly what we've done. we have the highest ratings from common sense media. we have safe harbor from the ftc. we have been able to create what is really the safe and lovely network of kids creating, one of only two platforms i let my three kids use. we are strict about the way we
do technology. emily: what is the other one? zak: we let them watch netflix for kids. emily: okay. so why do you think you can do it better than the other guys? there was a huge outcry when instagram announced it was going to try to do instagram for kids and it has been permanently on pause. zak: we built zigazoo ground up for kids, by kids. every single decision in the product is made with kids in mind. obviously we know that is not the case with a lot of other social networks. one of the things we keep hearing from reviewers of our platform is when we go on zigazoo, we are stunned by the fact that kids' childhoods are being preserved. there is no commenting and no negativity on the platform. we have only opportunities to shout each other out. kids are being goofy, sharing their funniest jokes, laughing,
singing, dancing, beings kids. at the end of the day, technology is here. if we try to prevent kids from using it, it's not going to work. what we need to do is give them the guiding principles and the right guardrails to be able to be kids and protect their childhoods in a way that is safe and allows them to laugh and be funny and be themselves. we have given kids a lot of confidence in the meantime. emily: what does the nba bring to the table, or the court i should say? zak: as a basketball fan, one of the things that we love about the nba is what the nba does for kids -- and as an educator i can say it teaches kids about being a good teammate. the nba is about sports and being healthy.
it's about fashion and whatever else it might be it is given kids confidence. we think the values of the nba are reflected in zigazoo as well. zigazoo isn't a game you sit on on your couch for hours, it's a way you bring technology just like you would google maps into the world. it's asking you to do challenges that are active as opposed to passive. weeding the nba as a perfect partner in helping to celebrate health, well-being, being healthy, joy, camaraderie, being social. those of the things that we know the nba brings. i became a sports fan when i was this age. i started becoming a fan of my favorite sports team.
the same is true here. this is a special way to give kids opportunities to become fans in their medium. i am a millennial. this is not my medium as much. this is their medium. they are digital natives. we are providing a safe opportunity where they are joyful. that is why we are able to secure such amazing funding. emily: we will keep following you guys. zigazoo founder and ceo zak ringelstein, thank you for joining us. zak: such a pleasure, really. emily: coming up, ride-hailing drivers are doing the math. which are more cost-effective, paying for gas or switching to an electric car? and the cost of those cars are rising. we will talk about why drivers are switching to tesla, next. this is bloomberg. ♪
kept u.s. retail gap prices near record highs, causing huge pain in particular for drivers of uber and lyft. a wave of gig economy drivers are moving to tesla as gas prices squeeze their profits. what are they doing? ed: it is data from an app. if you are a gig worker, you are using this for trips. compared from june to may, the number of drivers that said they had a tesla as their vehicle jumped 185%. the point is the price of gas is so painful. we are down from the peak of the national average five dollars a gallon, but we are not that far off. here in california, come on. emily: horrible. [laughter] it is painful indeed. any uber, lyft driver you talk to, they are really hurting. ed: it is what eats into their profit, the money they take home.
emily: are the platforms doing anything to help drivers? ed: kind of. uber has a partnership with hertz where you can rent a hertz for $50 a week. it includes insurance, maintenance, unlimited mileage. i lease a vehicle and i'm limited on the miles i can drive. if you are an uber driver and night you can't have that. lyft, zero financial incentive. emily: you can't get onto that hertz plan, just buy a tesla. [laughter] ed: try and buy a model y, you're looking at january to april of next year. emily: how much is this impacting overall tesla demand amid all these layoffs? ed: demand is a lever for tesla. they are supply constrained, more demand than they can produce to meet. it can be a nice problem to
have. emily: and elon musk has not tweeted in a few days. ed: six days. emily: that must be a record. ed: we are waiting for a certain deal to get done and i'm waking up in the middle of the night. emily: i hope you get more sleep, but thank you for holding down the fort. [laughter] ed ludlow, thank you for that and your big scoop earlier. that does it for this edition of "bloomberg technology." we are back here tomorrow. the ceo of betterment will join us to talk about fintech and hp. and don't forget to check out our podcast wherever you get your podcasts. i'm emily chang in san francisco. this is bloomberg. ♪
as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network with no line activation fees or term contracts... saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. - [announcer] imagine having fuller, thicker,
more voluminous hair instantly. all it takes is just one session at hairclub. introducing xtrands. xtrands adds hundreds or even thousands of hair strands to your existing hair at the root. they're personalized to match your own natural hair color and texture, so they'll blend right in for a natural, effortless look. call in the next five minutes and when you buy 500 strands, you get 500 strands free. call right now. (upbeat music)