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tv   Bloomberg Technology  Bloomberg  December 13, 2021 11:00pm-12:00am EST

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>> from the heart of where innovation, money and power collide, in silicon valley and beyond, this is "bloomberg technology" with emily chang. emily: this is "bloomberg technology," coming up, a deadly collapse at an amazon warehouse puts the spotlight on the company's cell phone rules and an investigation has been
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launched, we'll have details. now the $3 million market cap is looking farther away. will we see it in 2021? and peloton responds faster than carie bradshaw, how they're firing back with a "sex and the city" spoiler. we'll get to that in a moment. first a look at the markets. the week starting with tech stocks leading the climb. >> we're really in risk aversion mode. the nasdaq 100, the tech-heavy index, down 1.5%, the biggest pressure on the mega cap tech stocks. you see that, the index 2.7%, big napes like apple of course, applierer $3 trillion, not quite on monday. semiconductors down 2.5%. this is a big week. we'll hear from actually 20 central banks around the world. the ones we're looking out for of course are the federal
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reserve on wednesday, the bank of england and the european central bank on thursday as well as the bank of japan later in the week. this is going to set the stage for 202 # 2 on -- for 2022 on global inflation, global outlook for monetary policy. if you're a crypto currency investor you'll be paying attention to the commentary and signals of what's to come. speaking of inflation which will be one of the top topics, i want to talk about bitcoin. after a solid weekend it's been a heavy selling session for bitcoin on monday. we're below $47,000 and horring around its 200-day moving average which is $46,720 total. we've been monitoring that at a key technical level where we could either see a bounceback or continue dead climbs of there was an idea that bitcoin is inflation hedge but inflation is big and nobody is buying bitcoin. one mega cap stock big, meta,
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the facebook parent. it's having a decent day, compared to its peers. tesla down, apple nowhere near $3 trillion, amazon down 1.5% under pressure as well. emily. emily: ed, thanks much. an amazon warehouse collapse that killed at least six people after a tornado rip through the edwardsville, illinois, has amplified concerns about the mobile phone ban on the floor. workers say it highlight theirs need to access personal devices to get severe weather alerts. the company relaxed its phone ban in the pandemic but it's returned. we have melissa, a longtime amazon employee, and spencer, who broke the news that amazon is considering pausing the phone ban as a result of what happened in illinois. what can you tell us?
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spencer: so this has been moving really quickly and what we know is that amazon's plan was to resume this phone ban in january. this had been relaxed through the pandemic. they've had this ban for years previously. they relaxed it through the pandemic, people needed to get important updates. and it was scheduled to go back into effect in january. what we were told is that for multiple -- from multiple people in different facilities in different states is that some managers were actually resuming the ban already. but once this tornado hit and people were trapped in a collapsed building that really amplified concerns among employees just about having access to their smartphone, not only to keep in touch with family and loved ones in cases of emergency but also to get important weather alerts and make their own decisions about whether to remain in big buildings or try to go somewhere
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safer. emily: we know osha is investigating, they've had investigate yorns the scene since saturday. do we know that in this particular warehouse whether or not workers could use cell phones or not or did they have to check them at security like they have had to in the past? spencer: amazon said the policy right now today is that all employees and drivers can have access to their phones. we don't having any indicating that workers at this particular facility didn't have their phones. osha is investigating which is to be expected. six people died in a workplace. it could be months before we hear anything back from them. what they're going to be looking for is what kind of training did amazon do about tornado risk what kind of shelter area did they provide. these buildings are big and wide open. and so they generalry are -- generally are engineered with some area that's beefed up structurally where people can duck for cover in a tornado which looks like happened in this case but i imagine osha
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will be checking to see how prepared they were for such an emergency. emily: melissa, what's your take on the story, as someone who worked at am soren for many years. obviously this is a devastating tragedy, it seems to be still unclear the exact details of what employees had access to on the ground but what do you make of this? melissa: yeah, i mean, you know it's first of all a terrible thing that happened and in terms of what i make of it, you know, i'm sure that amazon will restructure policies, they'll take a deep dive into what happened and how they can improve things going forward. they would not have wanted this to happen. so this might change policies for the better. emily: spencer, jeff besoz did tweet that the news is tragic and our heart goes out and our
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hearts go out to their loved ones. that same day we was celebrating another successful blue origin flight. what criticism are they facing on what they could have done? spencer: there have been tweets from different executive, the obligatory thoughts and prayers tweets from executives. some woarkers said they obviously had to close the facility. there's another facility across the street they had to close just to provide access to the parking lot for emergency crews because there was such a big response. there was access to counseling services for some of the employees nearby that i've talked to. and they made this commitment to support, there was actually a press briefing over the weekend with the illinois governor and they mentioned that. there wasn't a lot of clarity around that, but the governor, governor prits ker of illinois, was say we hope they followed
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through on that. emily: you've been talking to workers, what are they saying about their fears about not being able to use their phone, whether or not it's in an emergency like this or on a regular basis? spencer: there's a lot of distrust. workers will say maybe something happened to their kid at school, back when the ban was in place. it could take, you know, hours for someone to call that warehouse and get a message to this person. so it's really not designed for people to get critical information from the outside world which is why the employees, you know, feel like their phones are so valuable. all -- and all this situation has done ve it vait that, especially with critical weather alerts. workers don't necessarily trust amazon to keep them informed about the risks outside and they prfer to get -- have directing an seses to that information and make their own decisions for their own safety. emily: all of this happening
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against the back drop of some amazon works for the pars of the country trying to unionize, melissa, which i assume would give them some more control over issues like this. do you think that amazon workers especially warehouse workers should be part of union that that would petr help protect their rights? melissa: i think the works for the general just need to
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emily: in your experience, do you believe the criticismce, of amazon and howdo y it treatsou believe the its workers is fair. this is a company that is focused, it sounds like, they say they're focused almost exclusively on customer happiness but what about worker happiness? do you believe amazon focuses on that enough? melissa? melissa: sorry.: sorry. not being on camera, can't see you. you know that's a really hard one to say. not being an actual workers, not being in the position of their shoes totoshoes to understand t, day out of how well people are being treated, but you know, like i said, i think that times are changing. there's beenhanging. athere's been rot of -- a lot of information about amazon increasing people's compensation because it's harder to attract them. but they'll have to make people
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feel safe and happy in their environment. without having walked in their shoes it's tough to answer that question. but you know, that's just through public outcry that we can hear these things. emily: all right. certainly our heartsrtainly ouro all of those workers and their families. me lis burdick, former long-term amazon employee,e, amazon employe ande, spencer, we'll continue to watch your reporting. timetime magazine timetime ma made elongazine musk its person of the year. the publication wrote that thatw people have had more influence than musk on people life -- on life on earth and potentially life off earth. he solidified his standing as the world's richest person and turned his electric car startup into a $1 trillion company. the stock market falling short,,
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when will the company hit that historic valuation? next. this is bloomberg. ♪
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>> apple has released ios15.2, bringing new features like image protection in messages on phones operated by kids as well as a new mechanism to hand off your data in the event of your death. the new feature in messages is the most controversial. it was planned to launch earlier this year but was delayed after privacy experts complained about
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a companion feature that scanned images for child abuse images. it will prevent any outgoing nude images as long as the child's parent opts in via the family sharing settings. the other new feature allows you to see which hardware features like camera, microphone and the network different apps are accessing. there's a newing to that will prevents the camera from automatically kicking into macro mode when you bring the camera close to an object. you can now send emails from a random address if you have an iphone. however the best new feature in my opinion is the new design for notifications on the lock screen. this is "power on."
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emily: subscribe to mark's weekly "power on" newsletter at bloomberg.com. let's stick be amazon. it turned lower as the $3 trillion market cap continues to be elusive. tom joins us now, will it happen before the end of the year or not in tom: i think it could. what i find so fascinating about apple's march to $3 trillion is i think investors are putting an embedded option in apple that they'll come out with either an electric vehicle or devices to enable consumers for augmented reality or virtual reality. there's an embedded call option, investors willingness to bet on options apple hasn't announced yet is running them toward $# trillion. emily: they haven't announced the projects and also a lot of car executives have been leaving. how confidence are you?
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tom: if you ask me over the next three years amazon will -- apple will launch an electric -- electronic vehicle, i'd is a not so much. there are a lot of executives coming and going if apple supposed to start this car project, i think they called it project titan, but it's interesting to me that investors are willing to bet on products apple hasn't launched. emily: interesting you think they'll launch an electric car offering in the next three years. we see them climbing, is it a bargain buy at the moment? tom: excellent question. if you look at apple like other value consumer technology, there was a time they traded at 3% cash flow yield, it was
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extremely valuation attractive. less so today. the only thing i find so interesting is on the march to 3,000, i think it's less about iphones, so in my opinion when it hits in -- when it hit, in august 2020, $2 trillion that was an investor interest in 5g networks. i think now by historical measures apple is less attractive as far as low p.e., high yield, things of that nature. it's interesting in that regard. emily: tom, we'll see if your predictions come true. tom forte of g.d. davidson. coming up, demand for faster grocery delivery continues to rise. i'll speak with the founder of go puff, that promises to have your order to you in as little as 30 minutes. and just like that, he's back.
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tellton's -- peloton's response to a storyline twist in the "sex and the city" reboot.
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emily: how fast can you get it. that's the question companies are asking themselves. go if you have that aims for minute, not hours, is the new standard. joining me now, the co-founder and co-c.e.o. of go puff. it's been a huge year in the delivery market in general and rapid seems to be what everybody wants. and aspires to now. what's been your top takeaways about what customers want and what they're willing to pay up for? >> first of all, thanks so much for having me. really excited to be here. i mean 2020, 2021 were the years
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of learning. we continue to experiment with the things customers want most. we're being very, very aggressive on expanding to new geographickic areas, we've opened up more square footage than in the last three years combined together. we've been focused and listening to customers. one new business is the go puff kitchen we deliver pizza, milk shakes, alongside our normal 14,000 skus. we've lawrvegged in several cities, we're in new york and los angeles and pressing the accelerator in the urmt k. and france where we've seen a lot of growth over the last few weeks. just this week alone we grew 100% week over week in the u.k. market. emily: doordash is offering 15
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minute delivery in certain market, how much are you willing to spend to compete? >> we started this business in an unorthodox way. for the first 2 1/2 years we didn't raids any money. we fowsed on nailing the business lod model before scaling it. over the last eight years we've built a lot of really competitive modes. we built world in class technology, to operate all these buildings. really, really strong infrastructure all over the country. hundreds and hundreds of liquor licenses. the reality that this is a very, very difficult business to scale. it's verying very operationally intensive. it's inventory intensive and capital intensive. that's the only things we're focused on. if yo look at the data, gopuff has 85% market share dominance in the u.s. what we're doing in europe is planning to be the number one play threr as well. but we continue to assert our market no, ma'am dance here in the united states by widen the
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gap. we're focused on having the same number one position in europe as well. emily: doordash, we saw them adding employees for the super fast delivery service that they are now offering. you compete with doordash and uber and lyft and a number of different gig economy companies. how are you thinking about the independent contractor model and if that's sustainable over the longer term? >> we really focused on the driver partner. we start with the driver partner. we listen to them. we survey and talk to all our driver partners and see exactly what they want and don't want the reality is gopuff is in a unique position. it's rare you have an environment where you have driver party for thes that can apply to work inside your centers as full employers stay driver-partners in their regular network. so if you look at the data, our drivers are making $18 to $25 abhour. when we interview the drivers
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they're telling us the vast majority of them are saying we want to stay flexible, want to stay independent contractors and the wasn'ts that -- ones that don't can work inside our centers and become w-2 ploas. emily: it's been reported you're talking to bankers about going public. should we expect to see gopuff go public in 2022? >> you know what, i'd love to talk about going public, i'll give you a call when we're ready to talk about it. what i can tell you is we're ultra focused on the customer and making sure gopuff's magic is delivered throughout the u.s., throughout europe. really kind of embracing the magic all over the country and within europe and focusing on our customer. emily: i'll hold you to that, expecting my phone call in the near future. you have done some small m&a. could we see you do bigger deals? >> i think there's definitely going to be con sol case in the space, when you create an
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industry, you know, the business starts going the right direction, customers like it, clearly people are going to follow and want to do it. while i think there's going to be consolidation in the space, i think a lot of players are getting into this instant needs category not realizing how operationally difficult it has been. while there's going cob consolidation there'll be a lot of players that won't exist in the next 12 to 18 months. emily: good to have you with us, we'll be watching you over the weeks and months ahead, thank you. coming up, 2021, a record year for tech mergers. we talk with ted smith from union square advisers about m&a activity this year and what to expect next year. tune in tomorrow i'll speak with the uber c.e.o., catch that conversation at 1:00 p.m. wall street time, 10:00 a.m. here on the west coast. this is bloomberg. ♪
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emily: welcome become to "bloomberg tech not, i'm emily chang in san francisco. there were some full-throttle moves in stocks. ed is here to talk about it. ed: we never talk about motorbikes. harr lee davidson shares motoring on monday. they were going to have a reverse merger, you can see the shares popular, they closed up 5% on monday, still a significant gain. this is livewire, the electric
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motorbike unit. it'll be part of ample b.a. bridges impact, just below $2 million, raising $545 million to help electrify case, harr lee davidson gets to retain a stake. interesting to see that. also looking at lucid up 4% on monday on a time when a lot of stocks are selling, in lucid's case, the stock will be added to the nasdaq 100 as part of the annual reconstitution. the nasdaq 100 is made up of the 100 and more most valuable nonfinancial stocks. a loft otimes that means very valuable tech stocks. it'll be one we watch going forward. the other end of the spectrum, tesla. selling up in a big way, down 5% on monday, down more than 20% since that november 4 high of $229.91. it's in a bear market. suffered with other growth
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momentum stocks. interestingly, one did share 28,000 shares of tesla on friday. elon musk tweeting tesla has a plan to take pollution and turn it into rocket fuel. he was namedtimetime magazine's person of the year. any surprises? emily: he's keeping it one those tweets and the revelations that come with them. thank you, ed, for that. from substitute and mailchimp, norton and avast, microsoft and nuance, 2021 heads to a close, mergers and acquisitions have been booming this year in tech. even as the biden administration's strengthens its stance on antitrust and pushes back against big tech. i want to talk about it all with ted smythe, president of union square advisers are. you expecting m&a in the year to come?
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ted: we are. thanks for having me back on. it's been a record year for technology mergers and acquisitions. we're closing in on $1 trillion of m&a activity for 2021. we're over -- we're over $900 billion, better than 50% over last year, we see that continuing well into 2022 at this point. emily: what abthose who failed, 5-9 and zoom. or the bloomberg report that paypal tried to buy point rest. then there's nvidia and arm that hasn't happened yet. ted: there'll always be questions, there'll be deals that don't happen even after they're announced. nvidia and arm, regulatory questions. others move in different directions and there's a vote by shareholders that they don't want to see it happen. when you take all those in total
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relative to the number of deals that got done it's a small proportion. it's been a welcoming environment for m&a overwhelm. that's likely to be the case in 2022. emily: what is so welcoming about it? why do you expect those trends to continue? ted: first of all there's a tremendous amount of capital available both at the corporate level and private equity firm that was come to play a significant role in the m&a landscape, in the technology space. they have tremendous buying power. they continue to consolidate their portfolios around larger and larger transactions. they're keeping those companies in their portfolios private longer and longer. such that if they do ultimately become public, they are very large i.p.o.'s. but the capital that's available again at those corporate and private equity firm, certainly the addition ale firms that are part of the growth equity capital there's never been more capital available.
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so the view is that the market continues to pay for growth and that one of the best ways that the existing companies out there can get growth is to acquire it as opposed to build it. that mentality has perm nateed much of the tech m&a landscape over the last couple of years and will continue to co-so. emily: what about regulatory issues not just in the united states but other parts of the world. in europe, for example, facebook and gitsy, and microsoft and nuance, a british antitrust regulator looking into that. and massive scrutiny of big tech going on around the world especial loif companies like facebook or i should say meta and alphabet and apple and amazon. ted: a couple of things to break down there. the u.k. is asserting its view on some of these mergers in ways they have never done before. that's an unknown and we'll to watch that going into 2022. i think that will be the exception not the rule as we look at transactions.
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more to the point, the stocks, meta, apple, amazon, etc., even though they represent enormous amounts of market capitalization today and can't be ignored on the tech landscape, the overall amount of m&a they're driving real toiv that $1 trillion of m&a we got done this year is relatively -- relatively small. even if the regulatory regime of the u.s. gets tighter on those company we don't think it will stymy it -- emily: what do you think -- i was going to ask what do you think the approach the biden administration is going to take will be given that we're going into a mid term election year and big tech scrutiny seems to be something both republicans and democrats aline on? ted: i think we'll continue to see that. i think the largest company, the ones we've mentioned here are going to find it more difficult to get marge m&a deals done. they've always taken the
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approach of asking for forgiveness, rather than permission on those things, and i think we'll continue to see that, but i think they're mindle of the current stance of the biden administration. i think we'll see some of the m&a they want to do they may not be able to from a regulatory perspective. i think that'll be tougher for the largest companies but for the vast majority of the companies, we don't see the current stance from the biden administration being punitive at all. emily: all right. ted smith, appreciate you taking the time. we'll see if your predictions ring true. coming up, from engineer to c.e.o. we speak to the c.e.o offing ona about the recent rise of c.t.o.'s turned c.e.o.'s next. this is bloomberg. ♪
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>> in china, we're probably looking at probably slowdown which is mostly motivated by the huge mobility from region to region. emily: finance has withdrawn a request to open a crypto currency exchange in singapore, that ends an effort that started last year. we spoke with the c.e.o. on bloomberg earlier. >> we're not that disappointed. this is the original plan. we have a local regulated exchange, x.g., we call it x.g.x., and we'll have two duplicate things in the run for a small market. singapore is a very advanced market. we need both applications there. it's kind of heavy.
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emily: binance will also wind down its digital token business in singapore. this year has seen a game of executive musical chairs. from jack's departure from twitter with their c.t.o. taking over. i want to talk to todd mckinnon who worked at salesforce before co-founding korvetion ta. i'm curious about what you think of the brett taylor news, co-c.e.o. with mark, does this make sense to you? todd:@greas to be here, emily, thanks for having me. i think it's great for salesforce and for brett and for mark. you get a world class technologist in breath and mark is legendary in terms of leading the company in vision and having
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the latest, greatest technology. it's a killer combination. i think as salesforce continues to think about what it's going to do in the days ahead, it's amazing to have breath in the that seat. emily: salesforce had a coe c.e.o. -- had a co-c.e.o. before and it didn't work out. does this pave the way for beniof to make an exit? todd: i can't imagine salesforce without mark. i wouldn't say it didn't work out with keith. they were pretty successful with keith in that seat. i think this is just the next evolution of it. when you look at the company, the -- their latest quarter was over $6 billion, they have a lot of product and technology to build. having bret and mark in the
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c.e.o. seats is an amazing come by neigh. emily: ok but the keith thing didn't last more than a couple of year, we'll see how long this lasts. we are seeing a wave of departures from mulesoft, there's talk about if they can continue to deliver on the numbers seen in past years. is that a red flag? >> i think there's -- in organizations growing and dynamic and companies coming together there's always going to be change. i like to zoom back and look at the landscape of what's going on. this is why broadly, not crust sales force or not just twitter, this is bodily speaking why there are more technical c.e.o.'s being promoted into that job, that's because in every industry, every company, has to think about being a technology company. has to be a technology company. if you're the c.e.o. of g.m. or toyota, you're not competing as much with each other and other auto company, you're competing
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with tesla. if you're the c.e.o. of any e-commerce company or rere-tail company you're competing with amazon. those are led by technologists. i think as the world moves more into the technology world we're all living thru, having a technologist at the hellm is a huge, huge asset. we're seeing it not in the companies we're talking about but in the companies that we serve as customers of okta. it's a strong trend i see continuing. emily: totally understand why having technical skills can be hugely beneficial. c.e.o.'s are also having to deal with major regulatory issues, global regulatory issues. jack dorsey has to decide free speech issue, whether or not to kick the president off the platform. i wonder if it can be at all a disadvantage. not to have that kind of global view of a business. todd: the thing about the job is you have to have many, many perspectives. you have to have many, many viewpoints. i think maybe in the past one of
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the raps on technologists is is they were too narrow. they saw technology only and everything else was at the ebs pence of technology. anyone, all these people were talking about being promote spood jobs, have a broad perspective on the different channels and opportunities. they're also good at building teams. back to mark and bret. it's kind of the out malt -- ultimate team building. to elevate them to c.e.o. there's strong teams behind these organizations. you have to balance off a tech-centered world with all the broad issues you're talking about and hopefully you get more decisions right than you get wrong. that's the best we can hope for. emily: speaking of balance, bret tai already was not only promoted to co-c.e. every o. but chair of the twitter bortd. isn't that a lot for one person if we're talk about taking things away like jack dorsey not being c.e.o., two companies in just one. isn't that a lot for bret to handle? todd: he's a talented guy. i think he can probably help
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each organization brings the perspective on the other one. one thing you try to do on a board is build a board of diversity in terms of a lot of different things one being thought and experience. when you think about building a board not only from the enterprise side but the social media side and the rest of the people on the board that can bring various viewpoints there it's a strong board as well. emily: okta is one of the biggest players in online security. where do you think the biggest threats are? todd: we talked about this trend, how it's never been such a consideration, how they're going to move products online and make them more competitive in this techno-centered age. with the rising rewards you can get from automat mate i think
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things, the binger the risk for security. another benefit of having technologists in the boardroom and in the top executive shares is -- chairs is they have a perspective on not only the upsides of the technology but the risks involved. it's about balance, doing the most with what's at your disposal without exposing yourself to undue risk and managing the risk when it does arie. emily: is ransom ware going to be as big a threat as it was in 2021 or big her todd: 2021 has been a marquee year for ransomware and we expect that to continue. that's because companies have so much at stake online, so much at stake building big businesses, building tuns, connecting customers with their supply chain. that opens up risk. companies at the same time are taking mitt gaik steps. we as an industry are working hard to make sure that risk is
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managed and companies aren't -- don't run into these unforeseen issues. emily: all right, todd mckinnon, c.e.o. offing on tark thank you for stopping -- of okta. thank you for stopping by. coming up, the twist no one expected including peloton. their response to the "sex and the city" reboot. and a warning now, spoiler alert, coming up. steech spielberg's "west side story "we re-boot stops the box office this weekend. it made $0.5 million in its opening weekend, falling short of forecast. it is aimed at oler theater goers, familiar with the 1961 version and a younger audience thanks to its stars. this is bloomberg. ♪
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>> to new beginnings. >> new beginnings. emily: just like that, he's alive. peloton's response the "sex and the city" reboot where chris noth was killed off suffering a heart attack riding a peloton. the ad seems to suggest he might have run off with his peloton instructor. we'll leave that for another conversation. joining me now, mark, who wins here. hbo? peloton? none of the above?
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mark: i don't think anyone wins here. i think this has been a little bit put out of proportion. the most interesting thing to me is the back story, what happened here. initially when we saw this scene in "sex and the city" the word on the street was there was some sort of product placement agreement between peloton and hbo or the show but there really was no knowledge on the peloton side that the bike would be used for the pup of killing off one of the cast members. then today i see some story that indicates there was no deal at all and nob or the show purchased the bike out of pocket, it wasn't provided by peloton. it's unclear what happened here. this was, however, i think a good retort from peloton. i think that anyone who watches tv or entertainment hollywood, whatever you want to call it knows the person didn't really die in real life. it's just a tv show. i think it was blown a little bit out of proportion. it does, you know, show you the potential health hazards for a
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treadmill. emily: peloton did, as i understand it, give their instructor permission to appear in the show. i wonder if that was a mistake on their part, not getting all the details? mark: i think that comes down to contracts, what type of employee is this? what were the requirements? did peloton do their due diligence or not do their due diligence, did the instructor know this was going to happen or not know, why was there no communication between hbo and the show and pelltop afterwards, why was there no communication between the instructor and peloton. will there be an issue between the instructor and peloton, probably not given she was in this ad but this was quickly put to rest with this peloton ad and it's good to get everyone involved in that, the ryan reynolds connection as well. emily: i was thinking ryan
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venldz or chris noth could be the winner here, i'm not sure chris wins since he's killed off and not in any other episodes. last difference between fiction and reality but the real, you know, potential health risks at a time that peloton itself is struggling. struggling to maintain those big pandemic forecasts. how does this play into the bigger story? will it have an impact on the business one way or another? mark: chris is probably the winner here. he's getting money from the show and the advertisement. in terms of what it means for peloton this comes several months after we saw health hazards related to their treadmill. obviously this situation, i misspokers, spfs the bike but they had the issue where a child was killed. there have been issues with pets and stuff. you know, young children related to the treadmill. that still is top of mind for some people given the tread plus is still not back on sale.
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then you have this show showing potential issues with the bake as well. long-term it won't have a negative impact on peloton because people know, and are aware, or should be aware of the risk of any exercise equipment. this obviously has been an issue for years, issues with exercise equipment. i don't think this is entirely new. it's a general part of society and the risk that comes with going to the gym or with using a treadmill or bike. emily: i wonder, does it hurt hbo? i watched every single "second and the city" episode, i hadn't gotten to the reboot but now i don't know if i want to. i'm already depressed, big guys. mark: i don't think it hurts hbo. i'm looking forward to season 4, i'm not a "second and the city" fab so i can't speak to that but i think hbo is still a winner. emily: mark, thanks for having some fun with this one and with us today. that does it for the decision of
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"bloomberg technology," tune in tomorrow, i speak exclusively with the c.e.o. of uber. then a bit later on "bloomberg technology" i'll be joined by jessie powell and the c.e.o. of rent the runway. ♪
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manus: it is "bloomberg daybreak: middle east." asian stocks slip. caution over the risks from the omicron variant. central bank's efforts to iranian -- rain in elevated inflation. boris johnson declines to rule out putting further restrictions before christmas. goldman sachs tells us london employees to work from home if they can.

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