Skip to main content

tv   Bloomberg Technology  Bloomberg  November 24, 2021 5:00pm-6:00pm EST

5:00 pm
>> from the heart of where innovation, money, and our collide -- power collide, in silicon valley and beyond, this is "bloomberg technology," with emily chang. caroline: i'm caroline hyde, in the for emily chang. this is "bloomberg technology." coming up in the next hour, supply chain pain. retailer struggling to keep supply up with demand. amazon.
5:01 pm
zoom has lost $100 billion from its peak. we will be live with the ceo on how the platform is planning to maintain momentum going into 2022. and how the tech behind cryptocurrency is being used for real work emergencies -- real-world emergencies. let's get to where the markets are. the nasdaq 100, outperforming. kriti gupta is here. kriti: a little holiday volume. the s&p 500, ending in the green. we had a slew of economic data, but the takeaway is the consumer is still strong. the inflation metric that the fed uses, still not skyrocketing to the point of worry. marginal gains in the s&p 500. tech has been outperforming. the bloomberg dollar index and
5:02 pm
yields -- tech is extremely sensitive to yields. so is tech relationship -- tech's relationship. i want to talk about bond volatility, in particular. as we start to wait for more signs of liftoff, we have a chart here, bond volatility has been high. equity volatility has been kind of low. at the edge of this chart, you can see this starting to hand upwards. -- hint upwards. equity volatility in tech stocks is worth watching. let's get back to the intraday action and talk about what happened today. i said that tech was outperforming today. semiconductors in with that trade. chinese adr's as well, up 1.2%. biotech up as well.
5:03 pm
crypto has been the outperformer lately, that was the laggards today. the action was under the hood. for those details, we go to ed ludlow. >> you mentioned strength in semiconductors. i want to get to some of the movers. the nasdaq 100, there were two chipmakers i'm keeping my eye on, amd and nvidia. andy had the biggest jump -- amd had the biggest jump. nvidia has a significant weighting in terms of technology stocks in the s&p 500. electronic arts, a lot of selling on that stock recently. the latest title not doing so well. i want to talk about autodesk, down 15%. this is the $55 billion company we never talk about, but i kind of feel we should. they make software for engineering companies, for builders in the early stages of
5:04 pm
big construction projects. look at that precipitous fall on its earnings. it has narrowed its forecast for this fiscal year, fighting supply chain constraints. you're in the early stages of planning. they are saying our customers are suffering in these industries that are suffering because of supply chain crunches. we are suffering as a result. giving some very conservative guidance. caroline, retailers -- we are on the cusp of black friday, this busy period of november where there is so much retail activity. the biggest drops on record for nordstrom and gap. they just can't manage the supply chain. they are not able to get inventory. it's a missed opportunity. the sales on amazon pretty much flat. adobe, in the month of november so far, out of stock messages are up 227% year on year versus january of 2020 and, against pre-pandemic levels, up 261%.
5:05 pm
that is what consumers are facing this week as we go into the thanksgiving and black friday period. it's interesting for those who are crying to -- trying to trade off between brick-and-mortar and in amazon's case e-commerce. caroline: we thank you. the out of stock messages, 2 billion of them in october alone in the united states. we get a breakdown of why supply chain disruptions may mean fewer christmas discounts and perhaps a disappointing black friday. >> looking to get your little one a tonka truck this holiday season? well, you are going to have some trouble. and if you want to give your spouse a personalized ring or pendant, you may already be too late.
5:06 pm
the national retail federation sees 8.5% to 10.5% consumer shopping growth from last year, pushing forecasts to almost $860 billion. but as shoppers begin spending on gifts, many are not finding what they want online or they are seeing their shelves in -- bare shelves in stores. this year, supply chain issues are threatening to derail everything. two billion out of stock messages were sent in october alone, up 325% from the same month in 2019, according to adobe analytics, who are seeing electronics hit the hardest, followed by jewelry, apparel, home and garden, and pet products. after two years of shopping disruption, it's safe to say retailers need a win during these crucial months, but it won't come easy. concerns around covid shut down factories in vietnam this
5:07 pm
fall, which slowed down production. containers are piling up on both coasts of the u.s. -- both the east and west coast of the u.s. there is not enough space in warehouses. all of this could affect the types of gifts you want to get for your kid, spouse, or pet. retailers, especially mom and pop shops, say they have had trouble getting tonka trucks, puzzles, teddy bears, bikes, you name it. and if you usually get a christmas tree, both live and artificial trees may be harder to come by. larger diamonds may be in short supply. even florists are having a tough time getting everything from tulips to white roses. you may even notice the supply chain bottlenecks while walking into a store. more denim jeans than cotton shirts. things like books and dolls set to go on sale, hitting weeks
5:08 pm
long shipping delays. shipping delays that look like this. while retailers race against the clock to stop shelves ahead of the holiday season, containers full of goods high-level outside of -- of good pile up in los angeles. between 150 and 200 citations are issued for these containers every week. for the folks who have already started their holiday shopping, more than half said that a product they wanted to purchase in a store or online was already out of stock. plus, retailers are not looking like they are going to offer as many discounts this season. this holiday season is not the return to normal that the retail industry expected at the start of this year. it has its own set of challenges. the biggest message they are trying to tell people is shop early to make it a merry one.
5:09 pm
caroline: need to get me a wreath. amazon, on the other hand, is prepared to sacrifice the bottom line to get products to customers online, by going a pretty unconventional route. i want to bring in a bloomberg news reporter, who covers all things amazon for us in seattle. all things amazon, thinking creatively about how to get your goods to you at the right time. >> yeah. there's several examples of that and where amazon just finds an alternative solution. if ports in long beach are clogged, they will load up shipping spaces here. we found an example where they had a ship that was filled with steel, ultimately heading toward vancouver in british columbia. they loaded up with containers and inventory, the deck of the
5:10 pm
ship. the hull was already spoken for. they sailed it into a sleepy port that usually serves the timber and lumber industry. they used that as a way to get inventory into the country, even though it's not ideal. it was still a more expensive and trickier way to get inventory in for the holidays, and that's the message they have sent. they are willing to do whatever it takes to not let customers down on the holiday. caroline: that's very in keeping with the amazon we have known on the public markets for years. it's interesting. are they saving themselves, their own products? what about the merchants? >> they are favoring the customers who will take inventory from anyone. you have discussed businesses who are having trouble. amazon is pretty diversified in its supply chain. it has its own branded products. it serves as a retailer for
5:11 pm
wholesale. more than that depth of inventory gives them an advantage. there's a difference of looking at an empty store shelf in a store. on amazon, if you are looking for something, even if you are not finding exactly what you want, they may have an alternative source or alternative product that still suits your needs. caroline: they've got the inventory in. now they need to get it to you. can they do that? >> that's going to be the ultimate test this holiday season. if amazon breaks down, that's where it's going to be. they are facing a labor crunch. they've had to offer signing bonuses of up to $3000 just to get people in the door to pack boxes.
5:12 pm
their delivery operation, made up of small businesses that operate their amazon delivery vans, are struggling to hire drivers and keep drivers on the road. that's where amazon's ultimate test will be, getting to your house on time. caroline: it's a great read. i urge everyone to read it online or on the terminal. thank you and wish you a happy thanksgiving. the company's latest earnings report, as well as the future of work. that's next. this is bloomberg. ♪
5:13 pm
5:14 pm
caroline: we've seen a steady
5:15 pm
rise in work from home stocks since last november as more and more people adopt a hybrid or completely remote rhythm. companies such as zoom -- after thriving in the early days of the pandemic, when millions adopted its software to remotely attend classes, conduct business and meetings, to school their kids, now the company doesn't seem to be keeping up with that index. shares slumped on tuesday after seeing slowing growth in their third mornings -- third quarter earnings report. let's talk about this. it's always hard when you see erosion in your share price. you are trying to study the narrative -- steady the narrative. what are you telling investors in terms of the growth trajectory? >> first of all, just to remind everybody, we have recorded earnings for q3 of over $1
5:16 pm
billion and gave outlook for the full year of over $4 billion, over 50% year-over-year growth. we are proud of everything we have accomplished. we are excited about the future, especially the future of hybrid work. working is transitioning. it's no longer -- it's a space where people get their work done, and zoom is at the forefront of bringing teams together and keeping them connected and efficient. we are making this transition from being a killer meetings app to a communications platform, not only our meetings feature that everybody knows and loves, but also the phone, zoom rooms, which is a conference room solution, which is really important and a key part of our strategy when you think about hybrid work. and, of course, we have products
5:17 pm
like zoom events, which we just launched 90 days ago. as we look forward and consider the events are also going to be hybrid in nature. caroline: i'm interested in how you continue to build ongoing conversation with your investor base. to a large extent, perhaps they got over enthusiastic about future growth. you beart, in many ways -- beat, in many ways, third quarter expectations. however, did investors just expect too much, or was it that some of the m&a you wanted couldn't come off this time around? now you look for organic growth? kelly: we experienced growth last year that was completely unprecedented and had never been seen before. the way that we talk about it internally to our teams, we really can't control the stock price. what we can control is our execution. we focus on delivering happiness
5:18 pm
to our customers and our employees every single day. we do that by innovating and creating the most reliable and intuitive products that support our customers' needs. that's the best we can do every single day. caroline: talk to us about context. the deal that wasn't meant to be. there was hope that you would still pursue that as an avenue of growth. is that a merger story or something that you will look to enhance and build on internally and how you execute? kelly: we were certainly excited about the potential of the 59 acquisition. we think highly of that team, and they remain important partners for us. however, video and gaming center is a product we announced at utopia in november and we expect it to be available in the first half of next year. we are looking forward to ways to bring a natively integrated
5:19 pm
product to our customer base. it will be a core part of our platform moving forward. caroline: i'm interested. as you look towards offering conferences, new and different ways you continue to sell growth, what is it that most excites you going into 2022? what do you think will outperform what people are currently factoring in? kelly: zoom events will be important. we are excited to be back together in person. however, companies have seen a tremendous gain by having virtual events. zoom events is going to be able to bring those two together and support them, so that's really exciting. also, zoom rooms. the conference room strategy, in terms of how companies will be able to bring their teams back together in an inclusive way -- that will be front and center. we have features like smart gallery. you can see everybody's face on the screen, even when there are
5:20 pm
many people in a room together. and you can interact with the meeting, with things like chat. we're creating the benefits we've had of working remotely when we go back to a hybrid experience. caroline: wish we had more time. thank you for spending some with us. we wish you happy holidays. coming up, elizabeth holmes taking a stand. we will talk about the latest and learn more about the former ceo in her own words. this is bloomberg. ♪
5:21 pm
5:22 pm
caroline: the trial of elizabeth holmes continues, now featuring holmes herself. the founder of the failed theranos is accused of multiple counts of conspiracy and fraud and faces up to 20 years in jail.
5:23 pm
let's bring in our own reporter. you've been in the courtroom since the trial started. this is almost coming to a climax, to some extent. how interesting was it hearing her take the stand in her own defense? >> this was a big question, whether or not she was going to take the stand. when her attorney called her, it was a big surprise. it came late on a friday afternoon. she only spoke for an hour, and nobody was ready for it, so it was a big deal, very exciting for everybody, especially everyone who has been spending 2 1/2 months in that courtroom, waiting to see if she would do that. caroline: how did she present herself? of course, this ends up becoming somewhat of a blame game between her and others. many realize they had an intimate relationship, as well as a business relationship. what turn did it take -- tone did it take? >> she started off nervous.
5:24 pm
she looked nervous, but she quickly settled in. gone is the black turtleneck and steve jobs costume that people like to make fun of. she is wearing conservative colors, with a blazer. she comes across as a chief executive, not a flashy silicon valley leader. in this case, almost more lawyerly. very calm. calmly answering questions, leading questions often by her lawyer, presenting herself to the jury and the world as somebody who was in charge, flying high, and not aware of all the details that might have led to the charges that she faces. just not aware of all the details that led to the criminal charges she is fighting now. caroline: ok. sort of claiming i have a deep -- claiming naivety. the devil will be in the detail,
5:25 pm
the detail that she perhaps didn't grasp. i will be exposed in the cross-examination, i imagine -- that will be exposed in the cross-examination, i imagine. >> she did at one admit to a -- at one point admit to her problem. she can just ignore the charges. she does have to address them. at one point, she did admit she did something wrong. she wishes she had done it differently. which is to lift the logos of pharmaceutical companies onto reports that she used, that she said were endorsements of her technology, in order to get investments. she's walking a fine line. as you point out, the real test here is the cross-examination. that's going to be the real test for her. what she's doing right now is something she's familiar with. she is pigeon her company, addressing -- pitching her company, addressing some of the charges. the real test will be on the
5:26 pm
cross-examination, the moment we are all waiting for. you alluded to it earlier. it's not clear yet how much she's going to blame her former boyfriend and theranos's former president. caroline: of course, this is something of deep interest to silicon valley, but how global does this go? >> i'll tell you, it goes across the globe, certainly to europe and beyond. first of all, you have reporters from papers across europe who are interested in it. i think it speaks to -- the reason it's so interesting. a trial is not a debate. it's a narrative. it's theater. the question here is, how far can you lie in order to get what you want? that's a universal and global question that people want to know the answer to, in this scenario and in this case. caroline: thank you for bringing us some of that theater.
5:27 pm
all-important cross-examination coming up monday and tuesday. we use blockchain to help fight natural disasters and improve first responder coordination. we will talk about how a company is partnering with deloitte. ♪
5:28 pm
every day in business brings something new. so get the flexibility of the new mobile service designed for your small business. introducing comcast business mobile. you get the most reliable network with nationwide 5g included. and you can get unlimited data for just $30 per line per month when you get four lines or mix and match data options. available now for comcast business internet customers with no line-activation fees or term contract required. see if you can save by switching today. comcast business. powering possibilities.
5:29 pm
5:30 pm
♪ peer elaine: this is "bloomberg technology." i am caroline hyde. bloombergs ed ludlow is keeping an eye on all things crypto today. ed: crypto-currencies have been under selling pressure for a few days, a lot of chatter out there about growing regulatory risk. there is a story on the bloomberg about chartists looking to the technicals to try and find direction. we are softer as we spill into thursday's session. bitcoin is lower. i wanted to zero in on zcash.
5:31 pm
i have not tracked this token in particular but it had an astonishing day at wednesday, the best performing crypto currency. it has gone under the radar. we don't talk about it much. . the smartest $260 per token value. it has performed well your today, not at the highs it was that it may. it is similar to bitcoin, limited supply, 21 million tokens, basically designed with privacy in mind. there was news on november 19 the developers will move from a cryptocurrency to a proof of steak rather than proof -- of work -- i will give myself some homework, i don't know the full extent of what that means. there is a lot of chatter about this being supported. i also want to briefly touch on coinbase. there is always so many headlines about coinbase, all kinds of stuff. they are softer 1.5% on wednesday. there is some mergers & acquisitions news, news that key
5:32 pm
democrats are taking interest in coinbase. they are asking difficult questions and writing letters to the executive. here is what i am looking at, adidas tweeting, saying that they have partnered with coinbase. but they also say, probably nothing. coinbase replies with the handshake emojis. bloomberg news asked each of these companies to comment and explain what they are talking about. they have not replied. . i am sure this is something we will find out more about. . this is where we have got to in the world of cryptocurrencies and traditional business. [laughter] caroline: it is definitely ah-didas, though, let's face it. ed ludlow, thank you so much. meanwhile, cathie wood has chimed in and said china is not an investable. she says she sees a bit of an opening and she is waiting till the valuation test settles. she spoke with embarq analyst
5:33 pm
rebecca. >> one of the scenes -- she spoke with our bloomberg analyst, rebecca. >> one of the reasons we built our positions in china in 2020 is we saw china's response to the coronavirus crisis was much more responsible for me fiscal policy and monetary policy point of view than many countries around the world. without thought maybe china will become the new germany or switzerland, known for its monetary and fiscal discipline. but what happened in november of that year was somewhat startling. the episode with jack ma, and watching how he and many other executives who had created incredibly rapidly growing and exciting companies, they basically were told, and maybe there was some reason for it, that you are not welcome there
5:34 pm
anymore. go off and do some charitable work or whatever the message was . so that is what they are doing. we began -- we became concerned about that. well that kind of rhetoric and activity is taking place. you are right, we pulled almost entirely out of our flagship, but not out of our specialist portfolios, because, autonomous technology, for example, has very friendly margins, and they are helping to push new goods and services into tier three and tier four four cities, which is great. but there is so much and uncertainty created by one regulatory crackdown after another. we did not know when it was going to stop. now we are seeing a bit of opening up. even with online education. you can't tutor children after school, but you can tutor
5:35 pm
professionals. so there is a bit more gave give there. we think the valuation of the chinese market has been hurt significantly by this. the way the chinese market and stocks will have to grow is if the underlying companies themselves grow. caroline: cathie wood is a big supporter of cryptocurrency and blockchain technologies. but is not just crypto that benefit source chelation that benefits from blockchain, -- it is not just crypto that benefits, or blockchain's that benefits. it is being used to respond to disasters and emergency situations. i want to bring in the president of ava labs, john wu. for once, john, we are able to talk about the practical use case of the underlying
5:36 pm
technology that is the blockchain. because in many ways it has become our favorite thing to talk about in terms of speculative assets. we are waiting for adaptive work or some practical use case, and you have got one. john: thank you for having me and good to see you again. yes, this is big moment. the use cases primarily have been crypto native use cases, whether it is decentralized finance or meme coins. but this is one of the first times where a fortune 500 type company or a big 4 consulting firm has decided to build a solution, that close as you go solution in this case for their customers,, in this case, government agencies. this is a very big deal, because deloitte has estimated they can save the government 50% to 80% of the all costs. what it means for the actual end-user is that poor victims in
5:37 pm
a disaster zone are able to get their grants literally days or maybe weeks, as opposed to currently where they get it months and sometimes half a year. this is a huge deal. if deloitte has trust an blockchain like avalanche for security for better workflow, management and collaboration between the thousands of parties, it is the beginning of a big trend. utility and adoption is happening now. caroline: in many ways, the way in which you raise the profile of avalanche is a smart contract-enabled application, but much faster, much low cost. interesting, you also raise the focus of eco-friendly. i want to understand how you are presenting yourself as eco-friendly at the moment. john: generally people think blockchain's are energy-consuming giants it is
5:38 pm
relating to proof of work. ed earlier talked about proof of work versus proof of stake are related to bitcoin and ethereum. avalanche, the blockchain's case, basically we had an outside consultant, and the energy used is no different from 12 u.s. households per year, so it is minimal relatively speaking. on top of that, ava labs bought credits in the market in order to offset even a little bit of energy that we end up eating in terms of carbon footprint. caroline: let's talk about your token, is it avax, how you say it? it has been doing really well. and this deloitte deal apps push it up to record prices. does that matter to you? how much is that important in terms of bringing more people
5:39 pm
into the ecosystem to be part of it and ensure that it continues to grow? john: that is everything. it is about adoption and utility . i think ed was talking about it in the earlier segment, where the entire space has sold of because of fear of regulation. the bigger story is not just the selloff in the entire asset class, if you look underneath the food, there has been more dispersion in the last few months and never before in these individual tokens. the tokens and the companies and the projects are showing real utility usage either through individual adoption, or in the case of enterprises with deloitte, transactions on the chain. those little ones are actually doing better even with a down market. those companies, or those projects have actually had increasing value in their tokens. i am fortunate enough to sit in the seat where i talk to entrepreneurs and developers and
5:40 pm
investors end-users. i get a first-hand view to where the usage is coming from and i see the correlation between usage and prices of these coins. caroline: let's go long-term, avalanche in particular, it is all about speed and velocity. to finalize transactions. you are looking at de-fi and you want to look at the old-school world of finance longer-term, paint a picture of what ava labs dies or is in five years time. john: well, in five years time, ava labs, the team behind avalanche, will be one of the big players in the space. it will be probably the fastest, probably is the fastest in terms of finale of blockchain. in terms of growth of the chain, it is the fastest in number of walnuts as well as transactions and volume on the chain. where we will be in five years is ushering this movement from just crypto-native usage to more
5:41 pm
deloitte-like situations where traditional enterprises are now going to use public blockchain is because it is better for collaborating, better for instantaneous transfer of assets, that for information sharing and save companies even more money. this is like software leading the world to the next level. caroline: john wu, ava labs president thank you for your time. we wish you a happy holiday. coming up, we are about to enter the busiest shopping season of the world, the holidays. my next guest just became the country's richest self-made women thanks to her work in e-commerce. this is bloomberg. ♪
5:42 pm
5:43 pm
5:44 pm
>> parents are busy. i promise, i understand that. we still have the responsibility to make sure their experience is as good as possible. empowering parents is an important part of the solution. he will be hearing us talk about not only parental controls, but safety for your people online. we will be talking about these issues with congress relatively soon. caroline: the head of instagram speaking about his upcoming appearance before congress. he has agreed to testify before a senate panel early next month, part of a series of hearings into the effects of social media on children. meta announced it would cause plans to create instagram for kids following reports from the wall street journal outlining the app's impact on young users. we have been talking about e-commerce and retail ahead of the busy shopping period, and also the influence of influences within that.
5:45 pm
let's get insights from someone who knows a thing or two or three about shopping trends. she just received a $300 million investment from softbank's vision funds into her company, ltk, a shopping app that allows users to shop where they post. the investment now values her company, which she started at 23, at about $2 billion, making her one of the wealthiest self-made women. joining us now is amber venz box . congratulations, you are educating people on the power and influences of blogging. first and foremost, did you expect to get here? amber: i am so thrilled that we did. i am a creator myself and growing up, i wanted to make money online as a shopping blogger. the fact that we have been able to do that for me and my friends and for hundreds of women worldwide is an incredible moment and an opportunity of a lifetime and hopefully of a generation. caroline: you used to be known for your style, like to know,
5:46 pm
that is where the "ltk" comes from. largest influencer platform. what does that mean? amber: we pioneered a new industry. we started working on this concept in 2010 that started as a b2b platform. providing creators a business enablement that firm to monetize their blogs. and we created a brand platform as well, helping creators to help them sell more things to more people. in 2017 we launched the like to know it shopping app, the first platform for consumers to go shopping from creators, or creator-guided shopping. this summer we moved to our common acronym, ltk. caroline: we were just hearing from the instagram hadd. instagram has been trying to create shopping experiences in its app, alongside tiktok. what does ltk bring to the table there? amber: where this industry has
5:47 pm
been pioneered over the last 10 years, it is actually quite robust. when you think of the social media platforms, they are an important part of the social media ecosystem. they are a complement to a creator's business, giving them new formats to attract customers, followers, shoppers. over the last 10 years, we have seen a new platform usually every two years. when we started, it was blogs and facebook and twitter. it expanded into instagram and then snap, now tiktok and clubhouse, the ltk shops. so we continue to see these new platforms. they tend to attract different generations of creators and different types. they are a propellant in this industry because, obviously, you need a way to connect with people. some of those people want to go shopping, and when they do, over creators bring them back to the ltk storefronts, and that is where the business happens. caroline: interesting. so if i was on the social media app, and i was watching, i would
5:48 pm
somehow be navigated back to yours when i am going to the shopping process? amber: whatever ever they are creating content. we think of it as on platform and off-platform transactions. over creators can use social video platforms whichever way they are engineered. they can link back to their creator shop. the shop posts links. really anywhere you engage with creators, they can bring shopping to you and make that turnkey efficient. caroline: you have a presence in the uk, brazil, france, china, south korea. i know as someone originally british, the very forward in terms experiences and online shopping, how do we compare? how does the u.s. compared to the likes of south korea, where you are really seeing significant growth? amber: creator is a worldwide
5:49 pm
trend. we just did a study where we found that even domestically in the u.s., two-thirds of people were inspired in their purchases by seeing creators talk about or feature those products online. we have seen that across asia, europe, across australia. really it comes down to the way we as a society are engaging with people today. we are spending hours and hours on the phone every day, on aggregated content channels. those channels are filled with content our clients create. what is interesting about this industry is you have actually chosen to follow the people in your feed. you might identify with them, for example, my followers might identify with me because of where i live, where the fact that i am a professional, or that i am a mother, or that i have pale skin or red hair. there is something about me they identify with and i help them guide their purchases. caroline: we have about one minute left or so. how do you ensure within that
5:50 pm
authenticity, safety as well for the people that follow you, in the way in which you absorb social media and wanted to only be a positive thing? amber: very intentionally. the ltk platform is a place where over creators, to create the digital storefronts. it is a really focused experience that is 100% dedicated to creator-guided shopping. they do no inventory or shipping or do customer care, but they are making everything about their lives shop bubble. whether it is their wagons -- everything about their lives shopable. everything they consume, they are making it shopable. who engineered the platform. when you show up, the only thing that you can do is shop. in the last 12 months, the people have purchased $3 billion worth of products from over
5:51 pm
creators. one of the most interesting things i have seen lately is the rise of direct-to-consumer. 20% of that $3 billion went straight to direct-to-consumer brands over the last 12 months, which is exciting as we think about the different type of creator. caroline: things for spending your time with us ahead of the holidays. coming up, theaters are still waiting for the first most-see fillon of the pandemic you are -- must-c film of the pandemic year.
5:52 pm
5:53 pm
caroline: let's talk about hollywood now. people slowly are returning to the theaters. let's go to l.a. where i am joined by a guest with more of what we can expect to see not only on the big screen, streaming at home as well.
5:54 pm
if i was going to go out, what am i watching on the big screen right now? today and tomorrow, you can watch disney's encanto, an animated film. house of gucci comes out tomorrow. ghostbusters afterlife and turtles came out in november and is still in theaters now. caroline: always good to talk about house of gucci. the whole film is based on a book written by one of our own journalists, so i am desperate to go see that. in terms of streaming, i am seeing and hearing so much buzz around will smith and "king richard." how is that going? they've got a dual release? >> it is a dual release. really well reviewed by critics. it is in theaters, also on hbo max. we have seen so far this year that films that have the simultaneous release and to see muted box offices. they did ok this weekend, but it was nowhere near the debut of
5:55 pm
ghostbusters, which had only a run in cinemas. caroline: there is the new gq sexiest man of 2021 -- i don't know why i know these things. meanwhile, talk to us about some of the documentaries. i have been trying to look at the best documentaries on netflix, i keep finding various lists of them. there have to be a couple more to be consuming? >> there are. tomorrow, thursday, is the debut of the new documentary, three episodes over three nights. peter jackson, celebrated director is behind it. it gives viewers a chance to revisit the last few days of the beatles. the idea is that things were fraught between them. the documentary shows that things may have been a little later, there had been more friendliness and laughter than we thought from the original
5:56 pm
documentary that came out after they broke up. caroline: so what will you be watching, brian? brian: i will be watching this version of the beatles tomorrow night. caroline: i will try to tune into it too, once i put the kids to bed on time. whether you are watching football or dining out on food or watching some of these new lineups as it comes to the world of streaming in the theaters. do remember bloomberg technology will be taking a couple of days off. go, celebrate. . and enjoy your thanksgiving here in the u.s. make sure you to lean on monday when we'll be bringing you a special extra episode of bloomberg studio 1.0 with alphabet ceo sounder pichai. you don't want to miss it from new york, we are wishing you some very happy turkey feasting and relaxed day at the markets unless you are trading crypto, which never sleeps. this is caroline hyde in new york. this is bloomberg. ♪
5:57 pm
5:58 pm
moving is a handful. no kidding! fortunately, xfinity makes moving easy. easy? -easy? switch your xfinity services to your new address online in about a minute. that was easy. i know, right? and even save with special offers just for movers. really? yep! so while you handle that, you can keep your internet and all those shows you love, and save money while you're at it with special offers just for movers at
5:59 pm
6:00 pm
paul: welcome to "daybreak asia". investors weigh the risk of faster tapering after the latest fad minutes -- the latest fed minutes. shery: weighing a potential rate hike in south korea, with visions that the bok may turn hawkish in the year ahead.


info Stream Only

Uploaded by TV Archive on