Skip to main content

tv   Best of Bloomberg Technology  Bloomberg  May 19, 2018 4:00am-5:00am EDT

4:00 am
♪ >> i'm caroline hyde this is the best of bloomberg technology. this week we were live from boston showcasing innovation , diversity and power of the regional tech economy. we will be live from various tech center locations in boston through the week. coming up, the governor of massachusetts on the incentives to lower amazon to the state to set up their second headquarters.
4:01 am
plus, how does amazon's alexa hold their own as competition heats. the we hear from amazon alexa svp tom taylor. we will get his input on main capitals portfolio and the current season. now on tuesday, we came to live from the great boston chamber of commerce's annual meeting. we spoke with the governor of massachusetts charlie baker. that was on television and radio. take a listen. i certainly think amazon will have a presence here one way or they are adding several thousand more. i certainly think they appreciate what we bring to the
4:02 am
table, which is a wonderful collection of tech pallet busters, terrific environment, a great place to raise families. schools, great communities, i fully expect we will be in the hunt. , wehen you were elected also remember it. you had pledged that you were going to fix public transit. the rail into boston every day, i am delayed, there are mechanical problems. i know there have been some improvements, but are we going to be ready. gov. baker: today, i was inspecting new orders and new redline cars. they will start to and at the -- to land at the end of next year. we are talking about 50% increases.
4:03 am
two weeks ago, we had a proposal to add onto the green line over another 50% over the next decade. we are also making investments all the time. i happen to think that these investments are good ones. we are talking billions of dollars of infrastructure around public transportation. we also have a futures commission that is taking a look at what the next step over the years.-20- i have a feeling that will let elements in it around electrical, autonomous vehicles. it may also change the game. i believe we will be well-suited to deal with whatever comes with employment and growth. with building technology, sometimes the regulatory environment is not always what we would wish. oft do you foresee in terms
4:04 am
that business and how it can function in boston? thehile i want to use overhead lift example as a precursor. i think wasith what the right framework for them to be able to operate. two years ago, and last year, there were 65 million transportation networks in massachusetts. which is obviously a gigantic increase you. i think we ought to come up with a regulatory model. for those people simply using it once in a while, something like that, fine, by all means. but if you are going to be renting that room out hundred 50 nights a year, as far as i'm concerned you're in the hotel business, and you ought to play the same tax. boston that the
4:05 am
mayor has just come out with a new ordinance that says we are not going to tolerate these multiple owners, so-called self hotels. do you support with the mayor is doing in boston? if you own many units, you are not going to go through airbnb? a reflectiony it's of behavior on the part of people buying and renting these units. , but what wehy ought to be able to do is solve this problem statewide and come up with a formula that works for everybody. business,in the hotel you should pay taxes like everybody else. let's stick with the regulatory theme here. what is the reaction in massachusetts? look, i think we should take
4:06 am
it seriously. going to talk to major league football, hockey basketball, and all the rest and get their sense about the thing. we will talk to the big ones like draftkings. located here in the commonwealth. we will also talk to the folks in the casino business and get their say. as far as me to see if we can ignore this and choose not to pursue this -- tom: are we going to see a position established? who is going to police all of this? gov. baker: i think that depends on what type of industry we end up supporting from a statutory point of view. depending upon where we land, using one model or another. i think it is something that will be on the radar and people will take seriously. people would be in the position where they would be literally betting on games while they are going on. the whole notion of what will be possible is dramatically
4:07 am
different than having sports book in vegas, period. this is a much more significant expansion. tom: it seems to me, governor, it is more like the marijuana business. it is new, unexplored territory. a cannabis commission, talking about cafes. all kinds of things, but it is slow going. do you see that sort of process evolving with sports betting? gov. baker: maybe. i'm of the opinion that slow going on the cannabis law that the cannabis commission is pursuing is the right way to go. there is still a lot of money and questions to regulate it. i think we will have the same kinds of questions with respect to sports betting. with that said, it is something we have to take seriously and engage in an aggressive way in the legislature and the folks involved in the industry. caroline: how are you engage in terms of infrastructure projects?
4:08 am
specifically, gas line projects. we have seen a few projects. why? is there a concern we will see more gas pipelines being built in massachusetts? gov. baker: a lot of that is decided by the government, not so much by the states. the two big projects we have related to us right now is the big hydro project coming down from canada and the deepwater offshore wind project. those are both over 1000 megawatts. the two largest clean energy procurements in state history and we control that through state statute and working with our colleagues in other states to implement. caroline: that was massachusetts governor charlie baker. now, 3-d printing is still in could --cy, but it respect to guess just decided by
4:09 am
some startups are quickly revolutionizing the business. we visited massachusetts-based products ine stainless steel and other metals and recently brought on ford motor as a strategic investor. >> this is the first machine that lets you print metal parts in an office. and there is a larger one for mass production. >> its arms around half a million, and goes up based on configuration. it is the explains same inkjet technology that other machines use, but faster and cheaper than welding or melting metal. would be $80, but is four dollars with us. >> the goal is to make 3-d
4:10 am
printing scalable. applied told be everything from stainless steel to titanium. many manye for applications. >> 3-d printing has long been a novel technology, in search of a huge market. 3-d printing could eventually worldwidecent of the economy. other companies are taking notice. hp and 3-d systems are making the shift. >> it has been around 20-25 years. the reality is, today it was all prototyping, and for the first time in the next 20 years it will be about in the use part production. >> desktop metal counts bmw and caterpillar as customers.
4:11 am
the company has raised $277 million with backing from ge ventures, lowe's, bmw, alphabet's venture arm, and most recently ford. >> it is a great market and will probably be the largest market for the technology. >> desktop metal employs 150 people, mostly engineers. along with research and development, this latest funding round will increase staff with plans to expand to more markets, europe and asia. caroline: still ahead, amazon alexa continues to dominate. we will hear from their exact, tom taylor. you like bloomberg news, check us out on the radio. this is bloomberg.
4:12 am
4:13 am
4:14 am
caroline: now, back to our special coverage. we next turned to the rise of the digital assistant in our everyday life. the latest breakthrough has amazed and scare some people. new program called duplex calls to make a restaurant reservation, it called a human on the other end of the line. it sounded just like you or i might, complete with islands and causes,. one could be the voice for millions, and is amazon's alexa. this is in a year were 61 million americans are using a voice enabled feature, amazon is eating up that market share, and 70% of people are using amazon
4:15 am
echo that comes with alexa. we spoke with someone intimately familiar with alexa tom taylor, , senior vice president for amazon'as alexa. tom: certainly it is very interesting, much to be inspired by. i think it shows how important it is we start with the customer and really think about how to work backwards. it is something i believe amazon has always done from my early days in retail. caroline: you have dominant market share of two thirds. how are you keeping up with innovations when you remain that accomplished? tom: we are very excited by the success we have had in the reactions. i think there are many things we will do over the many years. rattling them off, first of all we believe very much in many, there will be many ai's who win. they will not just be one, but we would encourage that. we recently demoed alexa talking cortana,t donna, --
4:16 am
and there will be more. whether it is ai or bloomberg -- caroline: bloomberg could have one? tom: it would be interesting. is the same interaction to talk with as many friends and experts that you know. number two, we want to make the ability for developers and builders to create their own ai. that is very important. we have done this through through tens of thousands of developers and skilled they can build, even down to recently we released a product called blueprint which allowed you or i to make a simple skill people are doing at a local level. finally we believe in ambient computing which is you should be able to hear and talk to your technology anywhere. that is the power people have seen with voice. i have knocked tethers in my keyboard or phone. i can speak. you can see alexa being successful in the home. in the car, everywhere. caroline: we are dominant in terms of music and asking questions, but when do you want
4:17 am
to see a pickup making inroads sooner rather than later? where is the low hanging fruit? tom: customers are saying this is great. in my home, but if i want to listen to music, take it along with me when i go to the gym or when i go to the car. there are many use cases of skills you provide. think about the assistants, how alexa might be able to do time, save your own mental thinking. we will explore all those different directions. caroline: in boston, you have a significant significant [indiscernible] where are you getting the promise? is the competition getting more fierce given the frenemies? tom: boston has been an incredible tech have very we have been here many years. we have 1200 employees that are scientists, machine learning experts, linguists, so it is
4:18 am
fascinating to have the ability to attract talent from universities and industry. we announced we are opening new buildings and we will be hiring thousands more in the coming years. lots of great tech for us. caroline: when you are looking at building up the tech, building up the power of voice enabled assistance, what about the issue or concerns of you and i have about listening? how have you tackled that in terms of engagement using data and public relations? tom: it is a great question. every consumer should be concerned about privacy. amazon has done a great job working with the customer backwards. take a look at listening. people often, it is incorrect alexa is listening. she is waiting to hear this word, alexa. that is only happening on the device. it is not going to the cloud.
4:19 am
that is one of many protections. we have a mute button very we have the ability to control records that she has. we don't sell your data. alexa does not sell your data. so it is very aligned with the customer and builds trust over the long-term. easily lost -- hard won.- comes to when it e-commerce, the first name that pops up is usually amazon, but way fair is the largest in the u.s. when it comes to furniture. >> it's virtual reality for retail. >> there you go. the grill goes on the patio. >> in its quest to become the largest online home furnishing store, wayfair's going
4:20 am
high-tech. >> we have about 10 million products on our site and we are trying to rapidly build a catalog of models. that let's us offer a huge selection of models for our customers to visualize in their home. >> through oculus rift or a smartphone, shoppers can scan a room or outdoor living area, select the piece of furniture and see what it would look like in the space exactly to scale. >> four patio chairs and a table and i am trying to move them to the side i want to put them. >> steve is the cochair of wayfair. as this boston company has grown, so too has the size of the engineering team as well as the complexity of the software features they are building. >> we are currently in the wayfair next lab space. this is a team we put together to help innovate on augmented virtual reality solutions. >> the company is innovating the
4:21 am
$116 billion home furnishing industry, and its progress is exciting investors but questions remain about its long-term viability. wayfair is not turning a profit and e-commerce competition is heating up as amazon and walmart ramp up their home goods categories. wayfair hopes its focus on presentation can pay off. >> if we can make a tool that makes it better to shop while you are at home, that is better for us. it helps keeps customers excited about using our platform, shopping for furniture on the internet. >> the more description and imagery to help customers make purchases, the fewer returns wayfair will see. that is leading to more repeat customers. >> look at that, wow. caroline: still ahead, boston-based defense contractor is a global leader in technology
4:22 am
driven solutions, critical defense needs. we catch up with their ceo next, this is bloomberg.
4:23 am
4:24 am
caroline: back to our special coverage from boston. isense contractor raytheon a leader in defense solutions. we caught up with their ceo tom kennedy while in boston, and asked him about his decision to remain in the city. >> numerous universities, m.i.t., harvard, boston university, university of massachusetts, tufts, a whole set of university that provide the technical skills required to work in the industry and help to develop the next generation systems and solutions that will be able to compete in a global marketplace. caroline: what are the next generation of system and solutions?
4:25 am
what do you see being built here? >> the whole area of machine learning, artificial intelligence, and how you apply them to your product solutions is a whole new wave of capability we are looking at significantly and putting those products into our solutions that we provide customers. caroline: 3-d printing? >> we call it additive manufacturing, which opens a new door for companies relative to their supply chain. do they build those products within their company, so it is a whole new dilemma in terms of figuring that out. and additive manufacturing is going to change the way we do manufacturing in the future. one of the things that has changed in terms of technology, for years we thought we were on a linear curve in terms of technology. one of the aspects was called moore's law, every 18 months you double your processing speed. in today's world, we are on an exponential curve. we are right at the knee of that curve. some of the technologies, one of
4:26 am
them additive manufacturing, but also machine learning, artificial intelligence, nanotechnology. all of these technologies are coming together at the same time that are really going to change the way we live and work and do business in the world in the future. caroline: as a business leader, how do you ensure you are ahead of the curve and the startups? >> we hire the best people, and the best people are in boston. we hire from the best universities and the best universities are in boston. caroline: what about the talent diversity? so much focus on the fact that you need the best talent, but you need to ensure it is the right working environment as well, women, minorities. how are you focused on that? >> we find to get the best product development, it helps to have diversity of thought and have a diverse team putting those products together, because our customers are diverse. to be able to provide the right solutions, it helps to have a diverse team. the issue we are facing -- not just raytheon, all technology companies -- is how do you get a
4:27 am
diverse workforce in today's environment when there are not a lot of women coming out of universities with science and technology and engineering degrees? that is an area where companies are working to drive and fix a solution. caroline: how are you helping drive it? >> we are heavily involved in science, technology, engineering, and math activities. one program we just started is with the girl scouts, working with them on stem initiatives and a stem badge so if they do certain projects they wind up , with a stem badge for the girl scouts. caroline: that was the ceo, tom kennedy. theng up, chairman of boston celtics joins us for an extended conversation. his take on this week's supreme court ruling on sports gambling. reminder that all episodes of bloomberg technology are now live streaming on twitter.
4:28 am
this is bloomberg.
4:29 am
4:30 am
♪ caroline: welcome back to the best of bloomberg tooling. i'm caroline hyde. this week we are showcasing the innovation diversity and power of boston's economy. the u.s. supreme court struck down a federal rule that has barred single game gambling in most of the country, giving states leeway to legalized amply nonsporting events. the decision will have an impact on professional leagues n the u.s. , the e with steve co-owner of the boston celtics. let's get your take on this uling.
4:31 am
>> my understanding is it is statewide. they have it all over the rest of the nations and the u.k.. soccer. i think it will play right as a state's right ruling. that is up to the state. i'm sure they will figure out the best way to handle it. caroline: we have heard from adam silver. he has been a relative supporter, saying overall, they have to ensure the legitimacy of the sport remains intact. do you think it would affect the game in any way? > with adam silver as commissioner, the game has always had a high integrity with david stern and adam silver. whether anything changes in gambling or not, people want to see a fair game and they do an incredible job. caroline: would you like to see the nba take a cut of the gambling?
4:32 am
>> that is up to adam silver. we are focused on trying to win a championship with the celtics. we're really enjoying what is oing on right now. caroline: yesterday, the win is all i heard about. a phenomenal performance against the cavaliers. what does this mean for you? >> it is only one game, but we are proud of the team. when you have two of the top players go out with injuries, many teams fold. brad stevens and the team pulled together. the young team really has stepped up. it is a fantastic kind of cinderella story. i love watching it every night, and they are competing hard and playing as a team. it is wonderful to watch. caroline: what does it mean for the brand? the franchise? >> the franchise has been strong before we purchased it. it is an iconic franchise. we feel like we are stewarding the asset for boston and massachusetts and new england. this story makes it even stronger. young players coming in, looking at those 17 banners, up there, one of them on our
4:33 am
watch, really inspires them. we have a fantastic coach and general manager. the best ceo in sports and co-owner. things are looking good. -- good right now. knock on wood or glass. we hope for the best every night. lebron is a transcendent player. you can't count him out. this was one game. we are off to a great start. caroline: let's talk about the investment side of your focus. particularly cyber chips, software, you are in it at bain capital. where do you see the most value at the moment? we see price points at a lofty level across many industries right now. >> i think the price points are high, especially in tech. we have done over 150 deals for bad and good cycles, chip deals. e key is how we can focus and change the company's
4:34 am
trajectory. company's trajectory. that can outweigh the ups and downs of pricing and allow you to buy companies in these frothy markets. for example, trying to grow a company through multiple acquisitions, through exporting rather than selling domestically. we try to be disciplined in these markets. so far, that has been successful. our funds have done well. our word right now is to be disciplined, to use our folks, and we are founded as a group that can help management teams develop strategies and grow companies. we are going back to our roots even stronger in each vertical market. caroline: how does the environment affect you in terms of, we are all talking about data, privacy, the fact, the way that companies monetize that. how does that affect how you look at assets, particularly in the internet and software space? >> certainly it is an issue with any internet software company that collects data, if you take a step back, almost every business is a tech business. technology in this time, it has revolutionized every business we are looking at.
4:35 am
we spent a day with our global partner group, meeting with the gartner group to discuss how technology affects banking, consumer companies, and the game has changed. every investment you do, you need to factor that in. in terms of privacy, that is an important point as well. i think the companies are responding in a good way to fence that n. the positives is having data, i like getting customized ads for the things i like. if you can do that in a responsible way, which i think companies are trying to do, that will be good for everybody. caroline: talk about the government, and how that affects the way you invest, you have looked at assets in china. when you have these geopolitical risks or trade skirmishes, how does that affect your willingness to do business in a country like china, for example? >> we have been successful in asia and china in general. we think the long-term view is,
4:36 am
it is a great developing market. we think china is coming towards the world economies and not going against it. they are implementing rules that are favorable for investment. we hope the ongoing discussions will result in a better climate. you have to weigh that in and pick your spots where you think you can be successful and not successful. we have a great on the field team in china who understands that. caroline: the spots, where the spots where you can be successful? you are looking at opportunities, where is exciting you? >> in boston in general, 40% of the people in boston are nvolved somehow in innovation. we are fortunate we are on top of innovation. you see things at harvard, the engineering school, companies here, we have a company that is growing rapidly for our venture fund. we are looking at all things, how the internet affects companies, how you can add value. certainly technology is a hot
4:37 am
venture ng area for a and bio perspective. but what you have to pay for these companies? i could tell you, hotspots here and there. if you are paying too much, you won't make a return. we try to take that disciplined approach where we find a company that can be transformtive, reduce costs give them better marketing materials, and we invest in those companies to build and grow them to be immune to devaluation issues. caroline: how difficult when you have such juggernauts coming into the space, particularly in venture, for example softbank's vision fund, $100 billion to put to work, do you feel they are disciplined themselves? are they what is driving the frothiness? is it something else? >> the economies of the world are doing well. we have come out of the crisis of 2008, the banks are stabilized in the u.s. every plane and restaurant is full. as you know, traveling around. we are in a good situation on
4:38 am
the face of it economically, globally. softbank is an issue, but not for us. our venture funds are smaller and can be more selective. softbank is trying to make large bets on companies that they could gain share on globally. it doesn't affect us as much per se. what really affects us is in general, there is lots of money chasing deals. that comes back to our theme song, to be disciplined, to stick to what we know, which we have been doing for 30 years, finding companies that can grow and become larger. caroline: do you look at economies as they grow, do you think interest rates changing could affect the rothiness? could that stop the asets from pulling back? >> i don't foresee interest rates, no one can predict them but if you look at the situations in most of the world economies and governments, there is a lot of debt in the governments themselves. for example, our national debt is $20 trillion. when i came out of business school, it was $1 trillion. if interest rates went back to
4:39 am
i don't think many governments could afford that. a prudent approach would be raising interest rates slowly and hopefully that will mitigate a large fall back. when they go up, valuations go down. caroline: you launched a real estate team. how is that affected by interest rates going up slowly or dramatically? >> it is the same issue. eal estate is more stable. we have had a great team come over to bain capital from harvard, who has been a top performer for the past 10 years. it worked out great. we are excited about that team. they will be selective. they stick to specific niches, that they know about, for example, like funding biotech office space, dr. office space, things that have demand and will withstand these interest rate increases. caroline: excited about teams at bain.
4:40 am
excited about teams, celtics. it is great to have you here. >> i don't think we have a etter team at bain, and i hope the celtics' magic will continue. reebok is using 3-d technology to break the mold. we visited the boston-based company's headquarters to see how it is using liquid materials to draw shoes in hree commedgesal layers. it makes designs along with the 100% recyclable footwear line.
4:41 am
big mcginnis is head of reebok's future. >> it is a way to get away from using molds like every maker in the market does and draw the bottom of the shoe instead. this is like 3-d printing only faster. >> the big goal is to go from we're going to make 1 million pairs of one shoe in the exact type and hope everybody likes it. that was the older model. now we're moving to smaller and smaller batches. as you get tighter and tighter, you can get closer and closer to custom. >> how is that a benefit to rebook? > reebok is not alone.
4:42 am
parent company adidas, nike, and under armour have also moved into the 3-d printed sneaker game. but reebok's liquid factory material is proprietary. the process uses computer software and robotics to draw shoes in three dimensions. >> we're actually faster than the old model right now. each bottom unit takes a couple of minutes to put together, all automated. >> adidas bought reebok in 2006 for $3.8 billion, then in 2010, began a turnaround to reposition it as a fitness brand by signing a partnership with crossfit. but reebok today is the one unit that remains unprofitable. still, adidas says it is committed to the future of reebok, and moved its headquarters from the boston suburbs to downtown this year. >> the spirit of the company has changed dramatically. we were always an established shoe brand. moving down here, being in the excitement of this district, i
4:43 am
think has the whole place feeling like a startup. >> it does "feel like a startup," breathing new life into the classic white leather sneaker. bloomberg, boston. caroline: coming up, boston has become a standout city for test driving self--driving cars. optim an inside peek at us indoor track. that's ahead on bloomberg.
4:44 am
4:45 am
caroline: now to our next stop on our tour of boston techs. optimus ride. and its indoor riding track. boston is one of a handful u.s. cities leading the charge to est self-drive cars.
4:46 am
lyft's self-driving car pilot kicked off in december. we got an inside look at the indoor track here at optimus ide. this self-driving vehicle start-up is on a roll. the company is optimus ride. a play on the transformers robots. it is located in boston's sea port. its small test of vehicles >> we call it optimus city. it is the size of several city blocks. we are eible to configure this to any type of device we want. a four-way intersection with
4:47 am
stop signs. >> the c.e.o. and co-founder said optimus ride is different than other start-ups and not focused on distance. they are testing at union point driving residents to the local train station. this is different from companies such as uber which are testing it for longer trips. the recent pedestrian death in arizona shut down testing in boston, but just for a day. it restarted after a safety review. of educating goal the public. whenever you have a new technology, you have to educate the public. we believe if we start in a medium speed environment, 20, 30 miles an hour, it is much better than high-speed. adoption has to start at those speed regimes. >> this m.i.t. spinoff has
4:48 am
about 60 employees and chin expects 150 by mid-2019. they plan to expand their fleet of electric vehicles to 50 by the end of this year. >> we also expect the growth to be nonlinear, especially around engineering, specifically an aeronautics, computer vision, machine intelligence. >> with more than $23 million from investors, optimus ride is searching for more partners. >> we have many partners and are adding more partners as we go. one of the big partners is nvidia. they make the top cpus for self driving cars, so they are a great partner for us. they build all the computers they go into our vehicles. they process all of that information. we have other partnerships with the perkins school for the blind here in watertown, massachusetts, a big advocacy group for equitable obility. >> optimus ride plans to remain private. the biggest challenge will be competition with the giants to release self driving cars, not just manufacturers like volkswagen and hyundai, but also google.
4:49 am
bloomberg, boston. aroline: that was the ceo of optimus ride. coming up, we head to our next stop in our boston sports tour. fenway park. that's next. this is bloomberg.
4:50 am
4:51 am
4:52 am
caroline: welcome back to a special edition of "the best of bloomberg technology" and our week-long coverage from boston. on thursday, we broadcast from none other than fenway park, the home of the red sox and we kicked things off with the red sox president sam kennedy. >> we have a lot of fans coming through our gate. we have to make sure they are nnected at all times whether wi-fi. it is something people focus on. when people come here, they need to be connected to each other. not just the ballpark but to their friends around the world. it is really important for us. major league baseball has spent a lot of money upgrading the technology around the ballparks and interacting with fans. it is important to grow the game as we move into the future. >> you get sellout games
4:53 am
anyway. do you need to innovate? >> we never want to take for granted that people are going to keep coming through the gates at fenway. we have 3 million people come in every year, not just for baseball but concerts, international soccer games, football, ice hockey. we do different things to make sure people are coming to fenway throughout the year and we are lucky to have such a loyal fan base. caroline: is it changing the way you spend money on players? >> it will be interesting. it was a slow moving off-season around the league. perhaps the red sox were an exception. we resigned some of our existing players. we have one of the highest payrolls if not the highest payroll in the game. we continue to invest and we'll see. it may have been a moment in
4:54 am
time in terms of the market conditions being a little bit different who was available, what teams were looking to get turned competitive threshold. we'll see how next off-season develops and look back in three or four years and see if it was a blip on the radar or a trend as we move forward. that is yet to be determined. caroline: how do you ensure you bring in enough money? >> you have to be focused on the fan experience, making sure that red sox fans who are the smartest fans in baseball, are getting a great experience when they come here. they want to have fun. they want to enjoy good, competitive baseball and enjoy other amenities throughout the ballpark, whether it is kids getting involved with our virtual reality activities. caroline: it is tech heavy? >> it is tech heavy. you have to balance that with a reminder that sometimes people want to come to a ballpark to get away from electronic devices and screens.
4:55 am
we need to cater to both audiences. the next generation is a tech savvy generation. they are on their mobile device seven, eight hours a day. caroline: what might put people on the mobile device more is that they can bet on sports. i come from the u.k. where we do bet on sports. it looks as though your supreme court may allow it in the united states. how will that change the game do you think? >> we'll see what happens. major league baseball has been working with state officials. the supreme court said the states can decide wlo whether to legalize sports betting. major league baseball has been working with the individual states to see how this is all going to play out. we know it is happening. there is a massive amount of illegal activity taking place.
4:56 am
if the government can regulate that activity, it is a good thing. for safety, making sure that integrity of the game is preserved. we'll see what other benefits may be. fan engagement, more interest in the sports. that has happened around the world. international football. i think that will occur. it is a little bit early to see if the supreme court, just ruled early this week but we see it as a positive development and we're watching it very closely. caroline: how will you protect the players? >> the players need to be subject to the rules that all of us in baseball will be subject to which exist that they cannot bet on baseball if you're involved with the sport. that is obvious. i think through greater regulation and monitoring of gambling activities, that will be aided and expanded. major league baseball is all over it. they are working with adam silver to have nba, jaymon han of the pga tour making sure that sports governing bodies
4:57 am
are linked an aligned with this as we enter this brave new world. caroline: should you get a cut? >> i think it is important for the port to get some kind of integrity fee. there will be a lot of expenses incurred by the sports to monitor the activity, the property, the investment the industry makes. which weather it is $9 billion, $10 billion invested. that is up to the government to decide. caroline: that was red sox president sam kennedy. that does it for this special edition of "the best of bloomberg technology." our full coverage boston. we'll bring you the latest in tech throughout the week. be sure to tune in next week when we head to paris for full coverage of president macron's meeting with global tech leaders. remember all episodes are now live streaming on twitter. check us out at technology week days. that's all for now. this is bloomberg. ♪ mom, dad, can we talk?
4:58 am
4:59 am
sure. what's up, son? i can't be your it guy anymore. what? you guys have xfinity. you can do this. what's a good wifi password, mom? you still have to visit us. i will. no. make that the password: "you_stillóhave_toóvisit_us." that's a good one. seems a bit long, but okay... set a memorable wifi password with xfinity my account. one more way comcast is working to fit into your life, not the other way around.
5:00 am
♪ thank youexcellency, for taking the time to join us at bloomberg. so many questions about what is happening with the turkish lira at the moment. a simple one first. are you comfortable with the current level of the turkish lira against the u.s. dollar? are you happy with where we are? subjectit comes to the of the turkish lira, the purpose here, is not just the status of the turkish lira but to protect the values of the currencies of the countries we trade with internationally.


info Stream Only

Uploaded by TV Archive on