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tv   Bloomberg Technology  Bloomberg  August 17, 2017 11:00pm-12:00am EDT

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>> i am alisa parenti and watching thin and you are watching bloomberg technology. islamic state has claimed responsibility for the attack in barcelona that reportedly killed 13 pedestrians and wounded others. a van jump to the sidewalk and plowed into a crowd at the las ramblas district. police killed someone that killed troopers at eight block it. the spain's royal family condemned the attack. the prime minister denounced to the violence. other leaders including theresa may, donald trump, and emmanuel macron have expressed support
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for spain. pope francis is praying for victims. corker delivered his harshest criticism of president trump saying in chattanooga today that trump has yet to show competence to lead the nation. tim scott of south carolina tells advice and news that trump's moral authority is compromised. saying a lawsuit regarding cia interrogation methods has a historic victory. the suit says it was an experimental torture system filed for the detainees after that september 11 attack. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i am alisa parenti. this is bloomberg. ♪ emily: i am emily chang, and
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this is "bloomberg technology." coming up, tech mobilizes against hate with new game plans in the wake of the charlottesville tragedy. how companies plan to draw a harder line without compromising core values. plus cloud flair. they hit reset on their commitment to free speech, shutting down their partnership with the right wing website the daily stormer. the c.e.o. joins us with why the time was now to make a stand. and alibaba's massive growth fueled by the cloud. the rift on online shopping and the monster first quarter that beat across the board. first to our lead. it has been a chaotic couple of days following the tragic attack in charlottesville, virginia, and tech companies of coming -- are coming together, committed to fight off who use -- those who use hate speech. newer startups like uber and airbnb are facing a newer challenge.
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users do not tended to share their views on those accounts. i want to bring in sarah frier who covers facebook and other companies. this is something facebook and twitter have been struggling with for a long time. the rules have been vague. they are still vague, but what are they doing now that is new? sarah: well, these companies have for the longest time try to say listen, we are a platform for people to share their views openly. we may disagree with them, but we will only delete them from our platform if they are violent in nature, if they are inciting hate or something that makes other users feel uncomfortable. that hasn't always been the practice for a lot of these accounts. a lot of the white supremacist activity has gone untouched because people haven't flagged it as much or there haven't been events like this in charlottesville, which really highlight the risk here. now these companies are being a little bit more proactive.
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we saw facebook take down eight groups that were related to neo-nazis that they thought were propagating hate. airbnb are being very proactive. they deleted some people's reservations because they cross referenced their user names with what they were saying on social media sites. emily: let's start with the content sites like facebook. some of these white supremacy groups have been using facebook to organize events. they have been using facebook for the purpose of coming together. i spoke with keith rabois about whether content companies should be policing content, even if it is not the content. nazi >> there are some constraint about content, particularly
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inciting violence, but outside of that, it is a difficult place to be. i don't think companies can censor content legally or prudently. i don't think content should be censored. emily: even if it is nazi content he is saying these , companies should not censor it. where will they draw the line? sarah: right now it is subjective. that is one of the problems with policies, is they all happen behind closed do you understand. facebook says it has always had a very consistent policy, those policies tend to be enforced when users report them. we were talking about facebook groups earlier. groups are places that sort of hide outside the moderation on facebook. it is like-minded people talking to each other. it is a place where these kind of stories can go viral. alt-rmes related to the ight can cap again there.
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emily: let's talk about uber and airbnb. how do you tell us a guest is a racist or a passenger is a racist. ? sarah: we cross-referenced it with what people were saying on social media. it is a very unconventional approach they took where people were not actually espousing these views on airbnb, but off the site. airbnb took that into account probably for the safety of the , people holding them in their homes. emily: we have been talking about paypal cutting off relationships when it comes to payments on their site, apple cracking down with apple pay. tim cook did send in email to employ saying, i disagree with the president and others who believe there is a moral equivalent between white supremacists and nazis and opposing those and standing up for human rights. they run counter to our ideals as americans. where does it stop? sarah: i think a lot of the tech
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executives are having to come out and say something like what tim cook is saying. we saw a statement from mark zuckerberg yesterday. ceoven saw the cloud flair coming out and saying, is difficult when you have these ideas propagated on your platform. you have to think, where do we fit into this? are we a tool that is helping this grow? a lot of executives are grappling with it. it is a subjective problem right now, but a lot of the free speech advocates i was talking to say when you have a small set of companies and leaders deciding what should be on the web, there should be a little bit more transparency down the line for exactly have decisions get made. emily: we are going to talk to matthew prince about how he made that decision and what that means going forward for cloud flair. thank you so much. we are continuing this conversation with matthew prince
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coming up later in the show. why he decided to cancel the site thef the neo-nazi daily storm or. they spoke out thursday between the relationship between president trump and business leader, this after multiple c.e.o.'s left the advisory councils when he didn't sufficiently condemn white supremacy. they spoke about the responsibilities of executives in the current political climate. >> it is incumbent upon the business leaders here to continue to work on making sure that the things this country needs to be successful over the next few years, that we are still making sure we are playing a role in making that happen. emily: chuck robbins there, ceo of the cisco. coming up, china's largest itsne marketplace boosted e-commerce while having a new strategy for its off-line business. we breakdown alibaba's results. this is bloomberg. ♪
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emily: u.s. stocks sold off today. the dow and s&p 500 posting their worst day since mid may. the nasdaq lost nearly 2%. tech weighed on the major averages. apple, microsoft and amazon were all a good for the s&p 500. investors concerned over the terror incidents in barcelona and the controversies surrounding the trump administration. one stocks it did post gains despite the selloff was alibaba. they hit a record high after posting quarterly earnings that topped estimates. revenue jumped 56%, and profit nearly doubled in the june quarter, fueled by a core e-commerce business. joining us to discuss these impressive numbers the managing , partner at capital and one other.
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when it comes to revenue growth, are you impressed the company of this size can continue to post such strong numbers? >> of course we are being impressed with the growth at this time. we also feel very vindicated, because for the last two years we have been stating that alibaba was going to be great. a lot of people had skepticism given the china downturn in economy, the stock market crash from two years ago, and alibaba has continued to grow and grow. >> i want to look at how revenue growth has progressed. take a look at your bloomberg, shows how revenue has grown over the last few quarters. executives spend time on the call talking about a new retail strategy. another area they are expecting significant growth. what does that really mean? >> alibaba, like amazon and many other e-commerce giants have been talking about how the future of commerce when you combine offline shopping with
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online shopping. so alibaba wants to leverage the millions of consumers it has as well as data to deliver a mobile and that offers a seamless experience when you are in a brick and mortar story. -- store. alibaba's recent acquisitions have been billions of dollars poured into this off-line commerce. we have heard talk about this hema concept alibaba has been quietly incubating the last two years. they have rolled out more than 10 stores around china. you download the hema app, scan the barcode, check out with alipay. you can have your own seafood cook to there on the spot or delivered to your home in 30 minutes. jack ma and his executives are betting on this type of strategy to drive growth in the future. emily: how do you compare what alibaba is doing here with these stores, whichet
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double as warehouses for orders. how do you compare to what they are doing with amazon? >> e-commerce is roughly 15%. that penetration rate is growing by 1% year on year. for alibaba to grow 3% on the -- to continue to grow at 15% a year they need to figure out how , to grow the other 85% of spending. they are doing that by combining off-line with online. you look at what has happened in japan in retail the last 20 years. you go to tokyo, you go to osaka. you see the high-speed rails and subway stations. you land in tokyo and can check in your luggage at the airport. it will get sent to your hotel. china has learned from that and applied that to e-commerce. interestingd it alibaba is taking on grocery the same time amazon is in the
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united states. >> amazon did it after alibaba. emily: how do their efforts compare? >> if you look at the type of china,payment market in in 2016 it fell $790 billion. that is 11 times the american market. that means chinese consumers are used to paying with their smart phone. alipa toy make payments every time they go. if they go to a store and see something they like they can , make a purchase. if the inventory is not available, no problem. the warehouse can send take to -- send it to their home in the next 30 minutes. that is something we don't see in the u.s. you will see it happen more and more in china going forward. emily: cloud revenue another big growing part of alibaba's business. but they are losing money there. talk about what is happening when it comes to cloud computing? >> they reached a milestone. they had more than a million paying customers but we did see growth slowdown from the triple
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digit growth rate they had been predicting. digital media entertainment, we saw growth slow from triple digit growth to just 30%, which is still good. but in comparison to previous quarters, it is considerably less. a lot of the reason for the grows costs in those areas is because with the cloud area they need to spend on data centers and with the entertainment division, they are spending heavily on content. there is a big war being waged between alibaba, tencent and b aidu. they are bidding higher and higher it is likely the prices , will continue to widen. emily: shares have been on a tear. is it warranted? >> i think there is a chance that e-commerce in china will move from 15% to 30% over the next few years. that will be a good foundation area for growth for alibaba. emily: we will have to check in
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with you in two decades. coming up, we bring you a company with big plans to take digital currency to the stars. how they plan to do it, next. if you like bloomberg news check us out on the radio. you can check us out on the bloomberg app, or sirius xm. this is bloomberg. ♪
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emily: facebook has proven to be popular among hedge funds. so much that 52 of the fund have more than 5% of their snowsed equity investments in the stock. that represents 2% of facebook's outstanding shares. facebook peers have an average of five hedge funds that own more than 5%. bitcoin showing no signs of slowing down. the digital currency climbed above $4,400 and hit a high on
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thursday. the rise coming despite the recent bitcoin split resulting in the emergence of bitcoin cash. we send it across the pond to caroline hyde in london who is joined by the head of the company that plans to take digital currency to new heights. caroline: great to see you. and new heights in every sense of the word. bitcoin is an infrastructure company. they recently launched via satellite, a free satellite service that allows access to the bitcoin network even without an internet connection. they tout the service as an additional layer of viability -- reliability. wonderful that we can catch you while you were passing through london. first of all, let's talkle the emerging market element of all this. this is often cited as a utopia of bitcoin. it is the democratization of finance.
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how can people as far away as africa access bitcoin? -- bitcoin without internet? >> we take it for granted in the western parts of the world that we can spend $100 or less per month. that kind of staple infrastructure often doesn't exist in emerging markets so cost of participation is high. with the satellite network we , are bring the cost of participation down to basically free. it goes from less than $100, maybe done to $20 by renting satellite-tv equipment. important, often we see bitcoin as a value. when perhaps the corn -- foreign currency is not that. i am thinking nigeria and venezuela. is this where you see a lot of the demand coming from? adam: right. there happens to be a
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coincidence of countries with weak infrastructure or poor network services, and maybe political instability, and also having weak currencies or currencies suffering hyperinflation. caroline: there is also a purpose it could be used in the developed world as well. sometimes the internet connections aren't always that great. adam: it is not unheard of for internet connections for whole countries to go down for hours when a fishing boat digs through a transatlantic cable. for bitcoin, it is important to -- important for security to have a view of the global ledger. one way in which you can do that is have redundant connectivity. satellite is an independent form of connectivity. with the satellites we have -- today we have three satellites and four coverage zones. but the additional satellites are going on by the end of the year to cover the full globe. today, it is 2/3 of the world's surface.
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i the end of the year full , coverage. with that structure we end up with a ring of satellites where , each satellite is able to retransmit data to a previous one. caroline: are you doing this out of the goodness of your heart? how do you monetize this? blockstream is a block chain infrastructure provider. we provide services to companies. by boot strapping this, we can grow the ecosystem. the companies that provide substance to users will buy more technology from us. caroline: it is interesting that you are just supporting bitcoin here. ethereum not- is up to it? the: i think bitcoin has best security record. when people think about money, digital gold they are looking , for stable, predictable conservative kind of things. it is fine that people are experimenting with new
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technologies, but dependability is key and bitcoin focuses on that element. blockstream we are focused on that element, and we emphasize block chains, and because of dependability and security record, we build on the bitcoin stability to build contracts. caroline: you have always made bitcoin more flexible in the ways in which it can be used. talk to us about the dependability of it going. we have seen a volatile year. suddenly a spike in the price because the underlying technology has been upgraded, and everyone is following along with it. but there is an upgrade under debate. does that mean bitcoin will forever be dependable? adam: i think bitcoin is a bearer technology. ultimately it is the users and market that defines what bitcoin is. the miners are a very important party.
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they provide infrastructure and a security network. it is the market that decides. as a user, you hold your own coins. if you run a full mode, which is what the blockstream satellite is about. caroline: what is that? adam: if you want to participate directly in the bitcoin network you should run a node that listens to the transactions around it. if you use a simplified client to the network, you are actually relying ton a third party. by using your own form of software, which is what bitcoin companies do, you have direct ownership of your assets under not relying on anyone else. in that circumstance, it is not really possible for somebody to make a change to your ownership or force a non-opt-in upgrade to you. you have to opt in. caroline: i believe the majority would agree. adam great to have you. ,adam back is the ceo of blockstream.
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emily to you in san francisco. ,emily: caroline, thank you. standing up for principles or censorship? cloud flair ceo matthew prince joins us on cutting ties with the neo-nazi site the daily stormer next. and a feature i want to tell you about, our interactive tv function. check it out at tv on the bloomberg. you can watch us live, check out old interviews, play with the charts we bring you on air. this is for bloomberg subscribers only. this is bloomberg. ♪
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got you outnumbered. the dinosaurs' extinction... don't listen to them. not appropriate. now i'm mashing these potatoes with my stick of butter... why don't you sit over here. find your awesome with the xfinity stream app. included with xfinity tv. more to stream to every screen. >> i am haslinda amin with the
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latest first word news. spain is on high alert at her the death of civilians and presumed terrorists. five suspects were shot dead by police south of barcelona. the operation is linked to the death of 13 people who were hit by a speeding van on las ramblas attitude -- avenue. the perpetrator is still at large. the prime minister says spain in the world stand with the people of barcelona. ,> our neighbors in madrid
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nice, brussels, berlin or london have experienced the same horror the people of barcelona have suffered and my first words i want to convey to them the affection, solidarity and affinity of the whole of spain and the whole of the world. >> president trump is said to have abandoned plans for an infrastructure council which would've advised on his calmest $1 trillion program to upgrade roads, bridges and other public works. he signed an executive order in july but failed to make formal appointment. there is a cancellation of two other advisory councils. the wall street journal says china unicom has withdrew a plan with the shanghai stock exchange because the breach amended security roles. the report cites the proposed number of sales per share exceeded the limit introduced in february.
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the plans on the $11.7 billion announced wednesday. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i am haslinda amin. this is bloomberg. >> i am sophie kamaruddin with a check on the markets. asian stocks taking a hit today. the aussie dollar higher by 1/10 of 1%. independent strategist telling us equities are going to be the fall guy in his environment. hedge with gold and your. falling to a one-week low, down one third of 1%. even though the dollar is set for a third day of losses. the dollar declined against the yen. the current downtrend we have seen for the dollar has been
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going on since early july. there might not be much in the way of the 108 handle for the dollar-yen. the peso falling for a 10th straight day. ♪ emily: this is "bloomberg technology." i am emily chang. returning to our top story, tech companies from facebook to airbnb are going on the offensive against white supremacists and nazis. the rebuke comes in the wake of the violent rally in charlottesville, virginia, that left one woman, heather heyer, dead. cloud flair decided to end its business with the daily stormer, a known neo-nazi website after both go daddy and google severed ties. it was an unexpected move as cloud flair has prided itself to an unwavering commitment to free speech even as they are -- have
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been criticized by offering services to terror groups. joining us now to discuss cloud flair, c.e.o. matthew prince. you have said in the past a website is speech, not a bomb. what is different? >> the daily stormer was a unique incident and the exception approved we needed to rethink a lot of the rules. not just for cloud player, but the tech industry in general. this came on our watch list. a few months ago we started to get reports they were harassing people that were submitting abuse report through our platform. earlier this week they were bragging that senior management of cloudflare were supporters of theirs. it was of torrent and vile. that was the final straw for us. it is a really important piece where we need to think about who
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that can regulate what content is online. i sit in a very privileged experience -- position that sees about 10% of all internet requests. i am not sure i am the right person that should be making that place. emily: we should take a moment to talk about what cloudflare does. site down but that makes it more vulnerable to attack. faster, helptes them stay online stop big , cyber attacks launched against them. most of our customers are big fortune 500 companies. but we have small customers like the daily stormer that get attacked all the time. the reality of the internet today is it has become such a dangerous place, if you don't have a major network like cloudflare sitting in front of your infrastructure and you do anything controversial, chances are that hackers are going to be
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able to knock you off. emily: the reality of the internet is that the daily stormer is not the only nazi group online. there are other hate groups online. are those groups still up and running, thanks to cloudflare services in part? , >> we still believe the right policy is to be a content neutral network. emily: so this is not a precedent? is a one-time thing? >> that is correct. this is, we hope, away first to say let's stop and say what is , the right place for internet content to be regulated. you think about a company like google. google terminated the daily stormer from using their registrar service. but they did not take them off their isp they did not stop answering their dns queries or pull the search results. what that tells me is not that google made a mistake, but where in the internet stack is being restricted or controlled matters. the rules for someone like
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facebook, twitter or youtube are inherently going to be different than a company that runs the company like cloudflare or level three. we need to have that conversation about where is the right place for content to be regulated and how they make those decisions. emily: cloudflare has been called terrorist's little helper. even if the rules are different for you then content providers how do you respond to the , accusations? >> the nature of being neutral is that there is going to be someone who you upset all the time. we have a project called project galileo. emily: that is different from upsetting someone else. >> when we hear there is an allegation, we hear there is terrorist content, illegal other otherwise, we turn to the experts in terrorism and legal content, which is law enforcement, legislators, regulators. we say, here is this content,
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what do you want us to do? ofme, that is the principle due process. they are enshrined organization who can make these decisions, as opposed to the decisions being made, based on the political whims of me, mark zuckerberg or jeff bezos are. emily: do think the should be regulated like utilities? matthew: i think we need to have a conversation between all of the different stakeholders. that means technology companies, regulators, content creators and consumers and civil society organizations. at this point it is the wild west were people are making those decisions and they are not actually transparent. it has been framed a lot as a freedom of speech issue. i am the son of a journalist, and i think freedom of speech is absolutely critical. but it is important to ignore -- nowledge that it is a uniquely american concept and
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idea. on the other hand, due process is something that spans the globe and something people really believe in. part of due process requires there is transparency, and accountability. i don't think that is what is going on with technology companies right now. emily: you have warned this is dangerous territory and a slippery slope. what is the worst-case scenario? matthew: i think the worst-case scenario is that you have a cabal of five to tech executives 10 who basically are choosing what content can or can't be on the internet, based on personal agendas, or worst case, economic incentives and agendas are. even as someone who sits in that privileged position i am worried , about as an internet consumer. it is important there is an understanding and accountability for one technology companies are making decisions. emily: these people would find each other if the internet didn't exist. but some people have argued that technology has given these groups oxygen, has 11 to find
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each other more easily and allowed them to grow. your company, which handles 10% of all internet requests do you , think by taking a moral stand, even if it is a stand the companies haven't taken before, they can make a dent in the fight on terror? can tech companies make a difference with their policies? and if so, does it make that moral choice worth it? matthew: i am skeptical that censoring content makes content go away. on the other hand, i do think that taking content and saying this is something we support and believe in and will help him out that is important. emily: isn't that the opposite? it's a double edged sword, right? promoting things you like versus condemning things you hate? matthew: well, people learn to hate. if we can teach them how that is not a productive and part of a modern civil society, then that makes a ton of sense. what we do it cloudflare is work with over 100 organizations that
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identify politically or artistically important groups that may be under attack. they may not be under it tack from hackers. for example, lgbt groups in the middle east human rights workers , in china, where they may be trying to be silenced. we say we will lend our services to make sure they stay online. that is the role technology companies can play. here is an alternative way of looking at the world, which is more progressive and aligns with the moral values of those companies. emily: are you still uncomfortable with the decision you made with the daily stormer? matthew: absolutely. again, i woke up one morning and got sick of these jerks using our platform. and i flipped a switch, and they were no longer on the internet. i am not sure that is a power that any individual -- especially any individual that isn't -- has a political legitimacy to them, that any individual should be making.
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emily: matthew prince, c.e.o. of cloudflare. thank you for stopping by. coming up, one of the uk's top peer-to-peer lenders is looking to branch out. this is bloomberg. ♪
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emily: walmart gave a lukewarm forecast for the third quarter as the world's largest retailer has been spending heavily to catch up with amazon. ceo doug mcmillon has channeled more than 1/3 of the budget into digital initiatives like a specialized e-commerce distribution center, the investments seem to be paying off. walmart online sales jump to 60%. a vote of confidence for one of the international players in
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business of peer-to-peer lending. u.k. founded founding circle is get money from agon. that money will be founded through a platform and loans could reach more than -- could reach many businesses in the u.k. serco -- theng funding circle c.e.o. spoke with caroline hyde in london, where she asked if more financial institutions will be using the services of companies like funding circle. >> if you look at the funding circle platform, we have 70,000 retail investors that lend through us. we have government institutions, the british business bank, k.f.w., the european investment bank, local governments and councils, and we have a number of other institutions. we have our own listed funds, the funding circle income fund. a number of blueprint offers. from our perspective, we want as
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many different types of investors as possible to be using the platform to get money to small businesses. i think as every year or every loan that goes on, the track record becomes more established and more and more large institutions will want access. >> the supply is coming thick and fast. what about the demand side? how about small businesses still wanting to borrow from the funding circle rather than going to banks? >> on the small business side, we have had incredible amounts of demand. we think we are about 2% market share of gross lending in the u.k. but actually if you look at net lending, which is the lending less repayments, a measure of new money going into the economy, we actually think we are about a third of the market. around a third of new money going into small businesses come from the funding circle platform. i think it is increasingly being proven as a good way to get money to small business. the reason is it is faster.
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businesses get decisions within 24 hours, funds in a few days. we deal over much better levels of service. 94% of businesses tell us they would always come back to us. often we are cheaper, as well, because we are able to use vast amounts of data. >> are the banks paying attention? trying to make their processes more efficient, and trying to make sure they do the credit risk faster, or is that something you leave up to yourself? >> i think banks will always get better and improve. we have partnerships with banks to help them fund customers that couldn't go through their platform. the vast majority of customers are ones -- there are pockets where we can help banks. it is a very big market. we're a small share at the moment. even if we went to 20% or 30% of the market, i am not sure how
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much notice thanks would take. >> it is interesting. bloomberg had a story out showing how much money going into fintech startups at the moment is coming from banks and institutions rather than venture capital. are banks trying to put money to work? are banks trying to get on the side of this digital movement, or do you think that they are still head in the sand? >> well, i think they are. i think if you look at the more forward-thinking institutions like agon, which has started loans, others i am sure will start soon as well. you can see that there is a big move. there is this part of the market where consumers or small businesses, they just want a choice. they just want things that are not banks. you either decide you want to get involved and play in that area and work with players like ourselves, or you cede that part of the market.
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in the same way as online retail and choices coming to the market, it is something that customers want. banks and think institutions will always go through yourself rather than building their own? >> i think some people will try to build their own. that is natural. i think for most it is a very simple, easy thing to do to partner with someone like us. we are a specialist. that is all we do, all we have ever done. the bankse part of business, corporate loans, credit cards, businesses. all sorts of different things. by partnering with specialists, it is a very cost-effective way of accessing the marketing getting answers to a lot of the yield. >> you have such a birdseye perspective of what is happening, whether the u.s. economy, netherlands, the economy. from a brexit perspective, how
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are we in terms of the u.k.? we have small businesses growing. but we do still have so much headline risk day today. business,look at our we have grown 80% year on year since the referendum. we still continue to see strong demand. we have not seen bad debt rates. if anything, the fact big insurance groups like agon have looked at the data and decided they want to purchase is a good validation of the strength of the u.k. economy. i think there is still a way to go before article 50 is triggered. so far broadly across the u.s., , germany and netherlands, the economy is in good shape and
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strong businesses are good to go. funding circle ceo with caroline hyde. coming up, a total eclipse of the sun. we will tell you how tech companies from airbnb to google are gearing up for monday's solar eclipse event, including passing out 14,000 pairs of these. this is bloomberg. ♪
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emily: for those of you who won't be able to get out and see next week's total solar eclipse, twitter and the weather channel have you covered. they are teaming up to stream the event at 12:00 eastern on monday. it takes place as it makes its way across oregon and across the country to south carolina. meantime, for those wanting to see the event in real life a , narrow trajectory from salem, oregon, to charleston, south carolina will have the best view of the event. homeowners on the route are finding a way to cash in on this
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once in a century moment. is our as -- us for more tech reporter. there are small towns on the route of this eclipse. some of those people are going to be making money, aren't they? >> small is an understatement. these are tiny towns. we are talking of a population of less than 4000 people. had onewns may be person stay at an airbnb this weekend last year. now 700 people are going to stay at an airbnb this coming weekend for the eclipse. about 50,000 people are expected to stay in airbnb's on this very thatw path 70 miles wide stretches coast-to-coast. emily: is airbnb doing anything to host? >> it did a sweepstakes. but a lot of people felt like there aren't a lot of lodging opportunities in these tiny towns. rigby, idaho has one motel, it
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is a motel 6. it is charging $330 a night. they say i can rent a room in my house. some people are renting out their backyards. patches of grass are going for about an average of $150 in rigby, as high as $150. i think the average is closer to $120. you can park your car there and pitch a tent. emily: now hertz is bringing in extra cars. they had gotten some backlash for canceling overbooked reservations. google sent you a pair of these. they are partnering with science and giving these out? >> yes. they are giving them out to students that are also along this path. lots of excitement around the eclipse. emily: it is coming up on monday. we will have full coverage. san francisco isn't the best place to see it, but can you still enjoy. olivia, our bloomberg tech reporter, thanks so much for stopping by. that does it for this edition of "bloomberg technology."
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president essential will discuss the official launch of a new phone. this is bloomberg. ♪
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>> the following is a paid program. >> the following program is a paid advertisement for the hd mirror cam brought to you by inventel products llc. announcer: yep, they're out there, driving recklessly, causing accidents and driving up your insurance rates. this is a show about car accidents. classic cars, and the hd mirror cam, the personal security camera for your car. this is accidents caught on camera with the hd mirror cam.


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