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tv   Best of Bloomberg Technology  Bloomberg  November 21, 2016 12:00am-1:01am EST

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♪ >> here is an update of the top stories. the asia-pacific summit was in peru. americat obama said must resist isolation of policies touted by donald trump. south korea's president may be close to impeachment. havetion of lawmakers sided with the opposition and say it is time for her to step down. this comes after prosecutors say she did play a role in and influence peddling scandal.
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security giant semantic is buying last lock. byt lock was being pursued some other companies. their shares are up 25% this year giving an market value of almost $2 billion. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 160 countries. this is bloomberg. a quick look at the markets. afternoon trading eating underway in hong kong and china where we are seeing hong kong up. shanghai is pacing its offshore peers. , heading for a bull market. ♪
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emily: this is "the best of bloomberg technology," lori bring you the -- where we bring you the best of our interviews in the world of tech. mark zuckerberg strikes back at critics who said the social thea site facebook affected outcome the elect -- of the election. first, to our lead, snapchat against the process of going public. they have filed for an ipo under the jobs act. this is something a company can do if they make less than a billion dollars in annual revenue. ofy have a target valuation $20illion-20 billion -- billion-20 $5 billion. cory johnson caught up with sarah frier and justin khan
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after the news broke. >> snapchat's filing confidentially because they don't have $1 billion in revenue yet so they can do that. this ipo could happen. it could be the first quarter of this year, maybe as early as march. it could be up to $4 billion in what they raise. this is incredible considering that they filed to go public before the election, and everything seems on track. >> fairly amazing here that if we are talking about a $25 billion ipo. 12 xook went out at revenue and collapsed afterward. >> this is absolutely aggressive. they will try to emphasize their growth potential. snapchat is very early on their path for revenue and they already have about one third of facebook's users in the u.s. they're not making as much money off every user as twitter and
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facebook do, but twitter has fewer daily users. snapchat will probably have about 350 million, definitely a fraction. they will definitely empathize growth. >> justin, you have the tiger by the tail. the business grew so fast. is oner what your take the company deciding to go public with the backing they've had. i think they have a tremendous network effect. their people using them every day several times a day. i think that is going to change. i think the long-term prospects are extremely strong use it. >> what you think of the ipo as a way for a company to decide to
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grow to the next up? and make sense, the ipo is a necessary step in your evolution as a tech company, to get liquidity. i think it is part of the process. the prices pretty high -- the price is pre-but i think we will see these tech companies with a strong network effect will be extremely valuable. will are billions that eventually join facebook. my terminalchart on right now that shows ipo business, but the ipo business itself, sara, has been very quiet. if you look at this chart, you can see the numbers we are talking about when the ipo's have happened are really low numbers for 2016. this is on a dollar basis. you see some of the benefit from facebook in the middle of the chart, but fundamentally, 2016
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was enormously quiet. why was that? sarah: there are many reasons. one thing we hear over and over is that we 17 is the year we might hear that the likes of snapchat get a little more serious about going public. the fact of the matter is that -- it is been extremely easy to get in recent years. it looks like that peaked around 2015 and companies are having to look for other sources of capital. later stage investors want a return on the investment and are getting more skeptical about growth prospects. i can't wait to see the prospectus and what the numbers really look like. sarah: anyone who wants to leak it. corey: come on an, bloomberg is here for you. media, googleial
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and facebook have announced some action. users from using fake stories and driving revenue from those. those stories may have influenced the u.s. presidential election. sarah, let me start with you. this is a story that has exploded in recent days. to me, the strongest thing about buzzfeedthe story on about the macedonian bloggers putting up fake stories to get clicks to get paid. this is an extremely lucrative business if you can figure out a way to play it. and the clicks are easy to get on social platforms. facebook, for its part, lisa takingclose look and is a close look at its responsibility for response -- distributing information. what might be difficult to these more biased
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stories that just give you some of the facts, maybe trait a misleading perception and aren't necessarily fake but are definitely more propaganda like in nature. you saw the fake story of a pending hillary clinton indictment, and then a trumped up, pun intended, by fox news. they ran the story and it was not real. saidn, mark zuckerberg only 1% was fake. i think that was completely wrong. i think that is not accurate. if you look at that store you just mentioned, it started on a viral site that was newly registered, and that story was shared to leonard 16,000 times on facebook, where's the "new york times" story that was true, it was only shared around 80,000 times. the impact of some of these
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stories can be extremely huge. facebook's ethical responsibility to not help spread fake news. corey: did they make money on the spreading of phase -- fake news? will think they're profiting on the fake news specifically, but fake news is optimized for engagement. people click on what they want to see. often times people click on what confirms their biases. algorithmpdated their to show them what they want to see and that doesn't correlate 100% with what is true. corey: you're saying they made lots of money on these clicks, they may not have done intentionally, but they were a great beneficiary of clicks on these inflammatory stories. justin: that is right.
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basicallyit is optimized for engagement, and when people click on something when they like something, that person is more engaged on facebook and spends more time on facebook. they are benefiting from it. meantime, 13 f five have rolled out this week. thees of twitter rose after hedge fund added stakes in the company. investors are divided on the outlook for alibaba. tiger global management added more shares. also from tiger, it's decision to cut amazon and double down on apple. coming up, shareholders voted on the solar city tie up. we will bring you all the details, next. plus, you will hear from joe lonsdale.
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will the security company go public in the age of trump? this is bloomberg. ♪
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emily: the u.s. government will now require new hybrid and electric cars to make delays when traveling at slow speed. that is so the pedestrians will
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hear the car coming. regulators say the new rule could help prevent about 2400 pedestrian deaths per year. speaking of electric cars, tesla shareholders approved the solar city merger this week by an 85% vote. we caught up with david welch in detroit for all the details. he wants to put everything under one roof. you can get your model three and get a solar roof. the battery can charger care, it is a one-stop shop. is not really clear why these companies need to be together other than it is elon musk's vision. you are not doing a lot of production of the batteries in the auto plant. it is not that kind of syney. for solarnk there is
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city is the synergy of the tesla brand. it carries so much weight. when you start to put stuff under the tesla name and bring this together as one big green, high-tech product that can generate revenue. emily: what you think the impact is or will be of a trump presidency on elon's big vision. this is a president who may not believe climate change exists and it could translate into his supporter lack thereof for clean tech. i think it is important to note that one of the things that wouldn't worry is about solar city going forward is the buffalo manufacturing plant they are wrapping up. it was good to see they're going to come to the table and help on
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that front. --hink having tesla as having it under tesla's umbrella helps. as far as the political climate, i think it is across many sectors, facing a lot of uncertainty. i think donald trump and his staff have been very clear that they are not going to be supportive of climate change. , theyedits really driv are one of the drivers of solar in the united states, and was shepherded in by paul ryan. it is a job creator. i don't think they will go after tax credits. it is a risk. to get to aideas cost for your competitive without tax credits and some companies are on the verge of that. we do have a difficult solar -- wenment right now with have a major glut we have not
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seen for several years because we have too much capacity. in the short-term, solar city benefits from that because we are seeing prices of panels drop dramatically. emily: in a short and longer term, david, what are the products solar city will offer? david: you will see a solar roof. these are not just panels, it looks like an actual roof and looks pretty good. unit a one-piece solar that is the entire roof of a building. that will be the key for solar city. for tesla, obviously the big thing is the model three. that vehicle has to go off without a hitch because that one will sell and high-volume and generate cash to get the entire enterprise going. after that, elon is talking about a delivery truck or a pickup truck being electric. my guess is we will see the pickup truck first. you will see a fleet of vehicles
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, assuming the model three goes well, generating cash for the company, you will see these vehicles coming out in the next three years. emily: the business of running a stock exchange has changed quite a bit. disclosure and requirements are easy been -- is your than they have been in years. after that a changing of the guards at the top of one of the biggest operators in the united states. we talked with dena friedman on changes at the exchange. been partnered together to make sure we have optimized the business. i've had my hands on the vast majority of what we've been focused on within the last two years. our job is to continue the journey that we are then on to make sure that we continue to be a critical market and infrastructure provider to the capital market. really expanding those
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capabilities for the nasdaq, will that be your focus going forward? adena: we got started as the first electronic exchange. i think that will continue to be our focus, and how we can bring emerging technologies and drive to be inow our clients the market as effectively as possible. regulatory operations in all the other things that come with a world-class exchange. >> is there anything different you might do? as much as you can reveal, is there anything different we can expect out of the nasdaq? : we have been transforming nasdaq into a global market technology provider. , will expect that to continue that we will continue that journey with the clients and
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employers, and we will continue to be a great exchange operator. >> let's talk about regulations. there's is a lot of uncertainty around policies in general. we heard from president obama talking about what may or may not be expected and what he is responsible for anymore. there is a lot of talk from president-elect trump on rolling back regulations that have been imposed on the financial world. how will that affect the nasdaq? : to the extent that we do have a republican administration and that they show a pro-business orientation, that balance andh regulation. one thing that has impacted us is dodd-frank. while there have been a lot of safeguards put in place in the industry coming from that, there are unintended consequences, most notably that the banks are
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no longer in a position to offer much needed liquidity into some of the markets where we operate. we would like to see the opportunity for dodd-frank to be modified to allow banks to take responsible risks into the markets as they have to provide that really important liquidity. >> modified or retracted? think we have to recognize that an enormous metalwork when into the creation for dodd-frank and there were a lot of reasons for that. we need to recognize the history we come from. we also know that whenever you put in a new regulation, there are always unintended consequences that come with it. how can we make sure that we are more likely modifying the regulation to make sure that it really is in fact having the impact you wanted to have? >> when you say then that president-elect trump is good for the exchange and financial market? say from what we've seen so far, i would say republican administration
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would be generally good for the financial industry. >> he has also pledged to cut back on corporate taxes. think if you have some of the tax policies they are considering in terms of potential changes in corporate tax rates, holiday and other things like that, that really makes it so companies can optimize the cash they are generating and re-invest in the business and growth. that is good for the economy. emily: that was betty liu with adena friedman. uber get theuld last laugh in china? we will head to hong kong for the details next. and a reminder, all episodes of areomberg technology" streaming on twitter. this is bloomberg. ♪
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emily: samsung is making moves in the automotive technology business. the company has agreed to buy harman international industries four $8 billion in cash. harman makes high-end car audio and is a leader in connected car technology.
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harman's ceo says samsung is a good fit. >> what samsung and harman believe is this is an ideal strategic fit that will maximize our company three strength. scale, r&dlobal capabilities and distribution channels will provide harmon the resources to barton -- broaden our reach and accelerate production of solutions. emily: sticking with the car business, it has only been a few uber's operations were bought out in china. now, chinese cities are enforcing tighter ridesharing rules. if this policy goes into effect, uber's deal might give them the last laugh. we spoke with lou chen and david kirkpatrick.
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there is a discordance between the central government and the local administrations. if you look at the central government, they have legalized the car hailing apps, but all the local level, because city governments are issuing permits , as isi operations probably a push back from the , where they actually take a cut from the operating revenues. in and bringing in millions more drivers, it is a blow to their business. >> there was a thought that one of the things uber was doing was taking a step closer to an ipo. you get the sense, not just with uber, but just unicorn companies, they're going to cash out investors and going into publicly traded companies? in general and maybe
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happening but i don't since it as much in uber as with other companies. i think uber is comfortable with raising capital. if you look at facebook's situation, if they had never gone public, they would've been able to do a lot of things to respond to situations that are put in a difficult situation right now that they cannot do when have to keep turning the advertising crank. china web giant tencent reported earnings this week. smartphone gains, performance paints -- performance-based ads. it is a pretty interesting quarter. the company boosted revenues more than 50%, so by any standard that would be considered strong growth. at the same time, it is investing heavily in some of
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these new ventures and that is the reason you saw that income rise a few notches more slowly than that. the company is the dominant services messaging through we chat and qqq. it is investing into cloud services and games and media systems,online payment it has a bunch of initiatives is trying to invest in. it is also getting ahead of a slowing chinese economy. services haveng been essential to 10 since growth. 's growth. any signs of slowing growth? context, we chat has twice as many users as twitter. it is the most popular messaging service in china. tencent also has the qqq service.
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they've been adopted by almost the whole population. tencent is trying to monetize those more. they are selling more advertising through those mediums as they offer new services, and they are also marketing games and other digital goods. they are popular channels for promotions and tencent is trying to take advantage. emily: still ahead, twitter suspends the account of a prominent whites premised -- white supremacist. what this means for the site. you can listen to us on the bloomberg radio app or on sirius xm. this is bloomberg. ♪
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>> it is 1:30 p.m. in hong kong. here is an update of the top stories. donald trump met more candidates for his administration, including general mathis, who may become defense secretary. mitt romney is being considered for secretary of state. isckstone's jonathan gray linked to the treasury job. employers of crown resorts have been formally arrested in china. otherial review says staff are also in custody. over staff have been held
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gambling related crime since october and it is not clear what charges they may face. shares of chinese supermarket chain send junk -- after alibaba said there buying a one third stake. this is their latest retail acquisition. they sell discount groceries from about 160 stores across china. newss on the rise after that there will be new proposals to boost unity. it has been said it is highly probable a consensus will be reached next week. this is been, located by iran's desire to boost output and iraq wanting an exemption. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. let's take a look at the markets
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in the asia-pacific trading. mostly positive, as you say. that rally we are seeing really boosting energy players and lifting the regional index. also a healthy gain in shanghai and japan. the nk open a -- 1/10 of 1%. we would see export jobs doing incredibly well. the yen weakening against the dollar. we've seen japanese equities and the black. here in hong kong, things looking pretty flat as we see the market regime following the lunch break. we are seeing some support for insurance place today and consumer related stocks. a good rally coming through on the shanghai market. we are seeing political pressures weigh on the overall copy.
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also a weak finish in australia, closing down. new zealand fluctuated throughout the day close in the red. you're still sing a little bit of weakness coming through in jakarta. we are live from london at the top of the hour. ♪ welcome back to "the best of bloomberg tech." follow-up from the election of donald trump continues to ripple through the tech world, especially when it comes to social media companies. this week, twitter announced it suspended the account of a prominent white supremacist. among them, richard spencer, who spearheaded the alt right movement. rolled out ways for users to filter out con-- filter out content.
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meantime, facebook continues to come under fire for allowing they can news it to spread in the run-up to the election. mark zuckerberg has dismissed those claims. we caught up with the cofounder of aspect ventures and sarah frier. >> twitter in the run-up to the election has understood that there has been a dramatic increase in hateful conduct on their site. the anti-defamation league has run studies, there's been an increase in white supremacists, those kind of commentaries. by the excitement over the election, not necessarily endorsed by donald trump, but definitely they have found a way to rally around the election. company was already working on will to curb harassment in light of that and they released
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the news earlier this week at about some of the more stringent rules being put in place. better reporting tools people have. now they are showing they can actually take action. i think this is all something they have come under fire for in the past, and in light of the election, the need to take a serious look at it. fake news,k, it is there is fake news on twitter, too, but on twitter people are more concerned about harassment and abuse. twitteroth facebook and are accused of amplifying the voices of people they do not want here. think the ideai , of fake news on facebook which it is a very small amount of the content, influence the
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election in any way, i think it is a pretty crazy idea. emily: jennifer, what do you think? how much responsibility does facebook and twitter bear here? jennifer: i think the election has highlighted how impactful social media is. i think all of these private these areons, because private organizations, they are not subject to first amendment coverage or carrier rules. how they think about their impact requires them to reflect about what that looks like it, even if it is a small percentage. how that will change over time and what kind of tools they can use, on a nonarbitrary basis, manage fake news or harassment or aggression through their site is something they need to take a look at. i suspect they are. emily: twitter and facebook are completely different sites. facebook is enormous. that kirkpatrick who did
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interview, suggested earlier this week that jack dorsey is taking a more clinical sense and we are seeing mark zuckerberg being more a political. sarah: zuckerberg, it is important to them personally to appear unbiased. tosaw how facebook reacted the dispute earlier this year around trending topics what it was reported there might be liberal bias in the story selected to be trending. facebook almost overreacted to that. they fired an editor, they invited conservatives to headquarters to learn more about the newsfeed. this is a very tricky place for zuckerberg to be in. it is not want to be the arbiter of truth. he does not even want to block biased opinion mongering news, opinion masquerading as news. those will be the most difficult
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articles for facebook to try and restrict. could be easy, but those kind of things that are trying to persuade people are on to be harder. this is bloomberg. jennifer -- emily: jennifer, do you think they needed take an active role in curating? neverer: facebook has promoted itself as a new site. i think putting that responsibility on them from a human editing perspective raises their liability. emily: but people are still sing so much of the news on facebook. is fair. i think that i think there may be some automated solutions and don't forget the power of users themselves to self manage and self regulate. there's quite a lot of that already today. more tools input place to enable the individuals to manage that. only: if people are clicking on stories they agree with, maybe they won't understand their fake or they are liking their own.
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discover what news is or isn't. that is ai think challenge, but he was a challenge before facebook came along. people here the information they want to hear. choosing fox news over cnn and that fashion. how much responsibility falls on facebook versus the consumer? sheryl sandberg publicly endorsed hillary clinton in this particular election. let's talk about snapchat. we have reported they have filed to go public. a filed before the election. his snapchat facing any of these allegations or are they in a different place because the content is so ephemeral? sarah: snapchat is not fee-based. a situation where you are sorting through who to follow. they show you what to look at. they halve the hole discover
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channel. -- both candidat have advertised on the platform. affectedhas not been by business as much. you are right, it is more ephemeral content people are sending to each other. internally, i don't think snapchat executive, even though they filed to go public before the election, i don't think they are worried about a trump presidency. i think everything seems on track. just: jennifer, you are awarded the see of the year -- vc of the year. i'm curious how you are looking at investing in social media right now. you started a new fund a few years ago, and given the power of facebook and twitter and snapchat, do you see social media -- is there room for growth there? jennifer: i think there
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continues to be amazing innovation and that it is striving toward the conversational user interface. most of the innovation we're seeing and investing in is moving toward where the consumers are spending their time, which is on slack, on i messenger, on facebook messenger. drivenseeing it will be off the top of that platform. emily: jennifer font standard and sarah frier. billionaire and twitter investor prince always been tall spoke to us this weekend and waiting on his various investments, namely twitter, despite its falling stock price, he remained optimistic for the future of the site. >> jack dorsey was my friend. he to go over a year ago. this has to begin
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sometime. -- anything over that would be sweetener for us. the best daysve are yet to come. palantir'sl ahead, cofounder joins us about his partner and how donald trump may affect tech. effect of donald trump on tech stock. this is bloomberg. ♪
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emily: let's turn now to the global forum, where tech pioneers are talking about innovation and how it might help diversify saudi arabia's economy away from a reliance on oil. erik schechter sat down with joe
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lonsdale, cofounder of palantir technologies. the question, what will peter thiel bring to donald trump's transition team? >> he is been one of the most important mentors. i think what is unique about him is that he is able to look at things from a contrary in perspective. waking up the out the world is probably not the media are going to talk about. i think having peter there will give him a strategic perspective. >> what you think his priorities will be? i think he has a lot of common sense. a lot of regulatory reform, a lot of immigration type things. i think peter really believes in making america a place where you are continuing to advance and build new things and really think about the future. 1950'ss about how the always looking to the future and sci-fi was in and we don't have that. i think he will try to put that back in the play. >> broadly speaking, do you
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think his role in chores a positive or at least an accommodative environment for technology and maybe even silicon valley specifically? thata gets me more comfort we are not going to scrub the trade stuff. it gives me a lot of comfort that it is going to be good for us. in terms of tech businesses, those that people might label monopolies, we'll have to see what happens with that. >> given the work palantir is some for the u.s. government, what kind of prescriptions is a place -- face in a place like saudi arabia? restrictors --the restrictions are really the moral restrictions within the company. we've been encouraged to work with allied companies, and one of the things they do is going after terrorists.
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i think there are a lot of governments that want help with working with the u.s., and they don't want to support regimes that are going to be against our values. >> self-imposed skates. other imposition such as you can't work with china or whatever, but i think a lot of the rules become more self-imposed as far as that silicon valley would not want to helpwith or not help with. mistaken, your cofounder once said that running a company like palantir would be awfully difficult if it were public. do you think that is still the case? jon: i think a lot of these founders that i've learned a lot about underestimate how hard it is to be public. a lot of people are afraid of being public, it is not as bad as people think. >> to think of time come when
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palantir can go public? jon: definitely. >> how long will it take? jon: i'm not sure. i understand why they might want to delay. that is something to figure out. >> and all of the trends in technology today, whether it is big data, machine learning, ai, autonomous cars or anything else , what excites you the most? jon: how all the biggest industries in the world, the fundamental processes are going to change. when you talk about ai, those are tools we use. the fundamental truth is that data right now is not being used the way it could be. that is the big shift that is happening. or platforms being put in place to harness data for the first how financingof government are being run. i'm really excited about fixing
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big industries in using technology to run them. >> one of the questions people like you get all the time is what happens to the jobs? jon: another great question. i think jobs are not necessarily a zero sum. if it is correct that we are going to get rid of any factory jobs, with that would mean is we now have a world where pre-much everything he can buy is extraordinarily cheap because there is no extra marginal cost. that means the cost of everything we buy goes down by 98%-90 9%. there are other jobs that people can do. i think it is more of a golden age if we cannot afford things cheaply. it is not a scary. >> how you capitalize on that as investors? i think there are platforms being put in place to run big industries and you have to figure out what those platforms are and invest in those companies. emily: still to come, a powerful protection over consumer
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internet access could be on the chopping block under the donald trump administration. we look at the future of net neutrality. this is bloomberg. ♪
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emily: a story we are watching, microsoft has offered concessions to european union regulators, trying to smooth the way for the planned acquisition of linkedin. they started casting and i over the megamerger in october, inesting in activities determining whether the merger could be best competition. the -- tech stocks were hit hard by president-elect trumps surprise win. -- surprise there crept back a little bit, but many are questioning what a trump presidency will mean. asked what president-elect
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trump means for big u.s. tech. i think there is a basic narrative about technology and silicon valley being out of favor, but who knows? it is too early to tell. selection, did what we see in these big tech stocks look bubbly, like investors were casting aside rationalism? there are certain things we think are overvalued, and the business models are more questionable, and others i think are almost borderline cheap. >> which ones are cheap? jim: i'm not an undisclosed were we are specifically. the point being that everything is moving together right now thematically.
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i think over time that will dissipate and companies are going to be judged on their own merits. particularly when you look at something like that neutrality, which the obama administration embraced and a sickly hamstrung the telecom companies. -- and basically hamstrung the telecom companies. he is talking about not being fair to the telecom companies. countries that have benefited from that neutrality --net neutrality could be hit hard. >> what you think president donald trump could meet for big deals still pending such as at&t and its effort to buy time warner? i think if we are right about our populace there he, i think you will be fewer business combinations. they tend not to happen in those timeperiods. you indicated some skepticism on some big deals. emily: that was jim chanos.
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is considered by many to be the obama administrations signature policy on tech. this is the idea that internet service providers like at&t and verizon cannot create fast and slow lanes for web traffic, putting come is like netflix at their mercy. trump hason of donald many industry watchers concerned that net neutrality could end up on the chopping block come twice 17. while he did not have a clear policy platform on the issue, donald trump tweeted in 2014, " obama's attack on the internet is another power grab." we are joined by larry downes for a roundtable discussion. >> i don't think that is what is going to happen. i think a between you mentioned,
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it was in response to president obama's announcement that he wanted the fcc to turn isps into public utilities. that is part of the ling in 2015 i think will go. i think that neutrality rules themselves and not that controversial. i don't really think they are going anywhere. emily: you think it will remain basically business as usual? businesses usual for net neutrality. emily: what will it mean for netflix? nothing for netflix or even consumers. none of these rules were being violated before the rules -- before there were rules in the first place. have: our analysts outlined three possible ways the policy could change. -- we're expecting another supreme court justice.
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through congress limiting ability. through a new trump appointed chair of the fcc, who would then change the rules themselves. what you think is the most likely path forward? think you can count on the new fcc chairman to start undoing legal claims of authority that underlay the internet orders we've seen. once that happens, i think that will by default kick the issue back to the federal trade commission, which as larry said, could have addressed this issue about 10 years ago. that really forces democrats to decide, to they want to take the legislative deal that republicans offered them last year? if they do, they may succeed in getting some version of the issue back to the federal communications commission, or they may get the federal trade commission to have will making power. i think larry is basically right.
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you will not see this issue change fundamentally. the 2010 rolls or never really controversial at their core. the industry if they had to would sign up today to self regulate enforced by the federal trade commission. has beenrry, there debate over the authority of the fcc in general, whether it is net neutrality or another issue. to think that authority will be questioned? larry: i think so. the question has always been, in 1996, did congress give authority over brawn bad -- broadband? congress may step in and make this more clear. that was part of the bill that was mentioned. the fcc voluntarily reinterpreted itself and said we are going back to the version we had all along up until chairman wheeler, but that will definitely be a keystone of what the new fcc will do, to examine its own authority and decide
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what the congress milli -- really means. emily: trump has indicated he is not fan of the at&t-time warner measure, but at best, what he believes no one really knows. it is a little confusing. there are been -- there has been other analysis that trump could this error if they want to merge. how do you think the fcc, the trump fcc will weigh in on these issues? ? berin: we have to wait and see. the people who follow these things are generally skeptical of the need for government intervention and are generally more willing to let deals go through. if there are issues, real harms to consumers, to come up with conditions that would respond to
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those, and set up either blocking deals were using conditions just to regulate without going to the normal process, as the obama administration has done. i think probably we will see deals more likely to go through, but it depends, and if you saw a wildcard chairman come in, it might follow through on what not until this tweeted about, it might be different. there is no way to tell at this point. emily: silicon valley is in an interesting position, having been so outspoken against donald trump. how do you see the relationship between donald trump and the tech industry playing out? choosing donald trump risks alienating them even further, to their detriment perhaps? we can hope for is that republicans are free trade, silicon valley likes things to be unregulated, and hopefully those things will align and character differences will work themselves out. emily: that's it for this
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edition of "the best of bloomberg technology.". we will bring you all the tech through the week as donald trump's influence continues to
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na you is life in anna: pretty places most of saysa's president there is concern of a protectionist stance from the president-elect donald trump. as theresa may sets the call on business leaders, she prepares to address the annual conference. we prepared to spea


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