this is “bloomberg technology” with emily chang. ♪ emily: i'm emily chang in san francisco and this is “bloomberg technology.” we'll bring you some of the biggest interviews with chip makers as the chip shortage continues to disrupt the supply chain around the world. which industries are hurting the most and what's the outlook for 2022? at that point are you saying there will be a supply and demand imbalance for qualcomm only and if so, how much longer does this drag on for other industries? it seems like qualcomm is navigating this well, but others say this could go on for years. would you agree? >> that is correct. i have seen reports that companies probably will still be seeing shortages of supplies in 2023. that's not the case for us. you can find still pockets of areas that are still going to have more demand than supply but largely we'll see a lot more balance between supply and demand. emily: you mentioned android and high-end phones being in demand. would you say in china, for example, that android is growing faster than i.o.s.? >> what we see right now is an opportunity fo

emily: i am emily chang in san francisco. intel revved up plans to speed up its self driving car business. they could generate billions for the lagging chipmaker. is there a catch? we will discuss. instagram response to the outcry over team safety, offering new tools to limit screen time and nudge users to healthier topics, this day before the head of instagram is excited to be grilled by lawmakers on capitol hill. microsoft has seized multiple websites that it says chinese hackers are using this tech to spy on and steal information all across the world. let's get a look at the u.s. stocks. staging the biggest rally since march with major averages surging nearly 2% on optimism that the omicron variant want -- will not derail global growth. ed ludlow is here with more. ed: tech is at the heart of that. the nasdaq 100 jumping up 3%. it was pretty broad-based, we saw semiconductors get in on the act. philadelphia semiconductor up almost 5%. also, some companies have been out-of-favor, they have not had much love recently. this i

emily: i'm emily chang in san francisco, and this is "bloomberg technology." over the next 30 minutes we are focusing on one of the big tech topics of the year, that is crypto. we'll talk about it with michael, who now owns more bitcoin than any other company in the world. plus, the first bitcoin etf, a milestone for the industry. we talk to the company behind that move. and non-fungible tokens stage a resurgence after fading from the headlines during bitcoin's springtime sweep. first, bitcoin, reaching highs after starting the year at just above $18,000. who better to talk to about all that volatility than michael saylor. he's vowed to keep stockpiling more. take a listen. >> we are getting a lot of attention from investors. we appreciate that. i think microstrategy is a leveraged, long bitcoin play. and it's also an enterprise software company. investors are trying to evaluate how to separate the two businesses and our growth prospects in either. our strategy with bitcoin is we acquire bitcoin, when we think the market timing is right. it has worked out pret

chang. ♪ emily: i'm emily chang and this is bloomberg technology. coming up, the chinese ride-hailing app is planning to delist from the u.s.. why this could be just the beginning. plus, omicron keep spreading, showing we are not done with the pandemic. how that impacts plans to get back to the office. top tuk-tuk desk tech companies are not employment -- the deadline to put women in the boardroom of tech companies is three weeks away. it was the slowest job growth in the u.s. this year is by unemployment falling. on top of the news of the omicron variant is spreading, the u.s. labor secretary remains optimistic. he might feel good about where the economy is headed but investors do not agree. let's get to ed ludlow. ed: we are taking the jobs numbers in stride as a mixed bag but the main takeaway for the market, it does not change the outlook for the federal reserve and its rate policy into 2022. what do we see with risk assets and tech shares? look at what is on the board. the index gauges mega cap tech stocks and chinese adrs. they bore the brunt

chang. >> i am emily chang in san francisco. intel revved up plans to speed up its self driving car business. they could generate billions for the lagging chipmaker. is there a catch? instagram addresses the outcry. the head of instagram is excited to be grilled by lawmakers on capitol hill. and microsoft says chinese hackers are using this tech to spy on and steal information all across the world. let's get a look at the u.s. stocks. major averages surging nearly 2% on optimism that the omicron variant want the real global growth. ed ludlow is here with more. >> tech is at the heart of that. the nasdaq 100 jumping up 3%. it was pretty broad-based, we saw semiconductors get in on this. also, some companies have been out-of-favor, they have not had much love recently. this is a basket of stocks and ipo's over the last two years or so. they have had missed -- mixed fortunes. for an idea of just how broad-based risk appetizing is, come with me into my bloomberg terminal. this is the goldman sachs basket. companies that are not maki

emily: i am emily chang in san francisco. coming up, a deadly collapse at an amazon warehouse put a spotlight on the company's cell phone ban.

emily: i'm emily chang in san francisco. this is bloomberg technology. i you turn for tesla -- shares reversed earlier losses. shrugging off a report regulators opened an investigation into the electric carmaker. we will have all the details. plus a rough streak for bitcoin. back below $50,000. we will talk about why investors are heading safe havens instead of risky assets. and the greatest thing to happen to art? non-fungible tokens -- what do you have to say but the nft phenomenon? we will get to all of that in a moment. but u.s. market he ash u.s. equities rebounding after reports that cases of the omicron variant have been pretty mild. >> green on the screen, all 11 sectors closing in the positive. a lot of this has to do with -- with what is going on in the chip sector. but i want to point out yields getting higher, up nine basis points today but not the tech move the major indexes would see. some of the correlations we relied on in 2021 are being flipped on their head. the s&p 500 outperformance i want to bring to your attention because let's take

emily: i'm emily chang in san francisco, and this is "bloomberg technology." of the next 30 minutes we're on focus signing on -- we are focusing on one of the tech topics of the year, that is crypto. we'll talk about it with michael, who now owns more bitcoin than any other company in the world. plus, the first coin etf, a milestone for the industry. we talk to the company behind that move. and non-fungible tokens stage a resurgence after fading from the headlines during bitcoin's springtime sweep. first, bitcoin, reaching highs after starting the year at just above $18,000. who better to talk to about all that volatility than michael saylor. he's vowed to keep stockpiling more. take a listen. >> we are getting a lot of attention from investors. we appreciate that. i think microstrategy is a leveraged, long bitcoin play. and it's also an enterprise software company. investors are trying to evaluate how to separate the two businesses and our growth prospects in either. our strategy with bitcoin is we acquire bitcoin, when we think the market timing is right. it

this is bloomberg technology with emily chang. emily: i'm emily chang in tempo disco. -- in san francisco. coming up in the next hour -- dr. fauci: we knew that it was just a matter of time before the first case of omicron would be detected in the united states. emily: the covid variant now here in california. how did it get here and what do we do next? plus, there is a new kid on the block. square is officially changing its name to block, a move signaling its growth beyond commerce and a nod to the blockchain. from part-time job to full-time spacex rival, how the founder and ceo of rocket lab built a top competitor for delivering small satellites to orbit and has musk in his sights. we will get all that in a moment. first let's get a look at the markets following the news of the first omicron case here in san francisco. our ed ludlow here with more. how did investors take it today? ed: negatively. we started with this big rally in u.s. equities, but you can see the s&p 500 down 1% on wednesday. it was its biggest two day drop sin

this is "bloomberg technology" with emily chang. ♪ emily: i'm emily chang in san francisco. coming up in the next hour -- dr. fauci: we knew that it was just a matter of time before the first case of omicron would be detected in the united states. emily: the covid variant now here in california. how did it get here and what do we do next? plus, there is a new kid on the block. square is officially changing its name to block, a move signaling its growth beyond commerce and a nod to the blockchain. from part-time job to full-time spacex rival, how the founder and ceo of rocket lab built a top competitor for delivering small satellites to orbit and has musk in his sights. we will get all that in a moment. first let's get a look at the markets following the news of the first omicron case here in san francisco. our ed ludlow here with more. how did investors take it today? ed: negatively. we started with this big rally in u.s. equities, but you can see the s&p 500 down 1% on wednesday. it was its biggest two day drop since october. the brunt of that in technology. clearly those m

emily: i am emily chang in san francisco and this is bloomberg technology. the apple falls. why demand is slowing for apple's most popular device. omicron keeps popping up around the world, but a new treatment could fight it. i talked to the maker behind the promising drug. shoppers are scooping up one-of-a-kind gifts, as we see, but will they make it on time? the ceo of etsy calls me to tell how he is making sure everyone has a happy holiday. with another volatile day, what did we see? >> we had the biggest today decline in u.s. equity since 2020, the biggest one-day jump in the s&p 500 since october of this year. investors have a lot to take on board, volatility associated with omicron and what the fed might do. this pocket of weakness in technology shares -- you see it reflected in the nasdaq, a tech heavy index, and in the faang plus index. a lot of that to do with apple. on a day where we were really in risk on mode, they were selling currencies across the board. some other important news comes around u.s.-listed chinese companies. looking at the nasdaq, the index at on

emily: i'm emily chang in san francisco, and this is "bloomberg technology." over the next 30 minutes, we are going to get meta-about met. first, the story behind the rebrand and the pivot to the metaverse, our discussion with a long time facebook executive on the day of that announcement. plus, the facebook files, shocking revelations from a whistleblower and former facebook employee who went to capitol hill to accuse the company of prioritizing profits over people. and a key early investor in facebook speaks out, reid hoffman tells me he is disappointed in the social network and meet of the gets a call from mark zuckerberg. all of that coming up. facebook doubling down on the metaverse, so much so the company calls itself meta-. we spoke to the vice president of the global business group. >> we don't see it as a risk, we are coming off the company and the excitement of the company is very real and meta kept is where our company is going and the future that we want to build but our mission has not changed. our focus is around building the metaverse, continuin

chang. ♪ emily: i'm emily chang and this is bloomberg technology. coming up, the chinese ride-hailing app is planning to delist from the u.s.. why this could be just the beginning.

emily: i'm emily chang in san francisco. this is bloomberg technology. senator joe manchin shocked democrats and the white house with his opposition to biden's $1.75 trillion economic plan, sending the future of build back at her into limbo. we will discuss. covid cases spike as the holidays arrive and omicron may not the last variant we have to fight. the metaverse is here. that is according to a ceo. we will talk about the future of wearable devices in the 3d version of the internet. all of that in a moment. her's, the market -- first, the market, a surgeon covid cases weighed on investors. how are investors feeling? >> a double whammy, we will see a triple when he when it comes to stock markets. tech attempts to lead the benchmarks higher and rescue the market. you see that in the s&p 500, closing 1.1% lower, the nasdaq underperforming, 1.2% down a as much as 2% lower on the day. it has everything to do with omicron. starting to gain more traction in new york city as well as potentially spreading across the country. on top of that, senator joe manchin

emily: i am emily chang in san francisco and this is bloomer technology. the apple falls. why demand is slowing for apple's most popular device. omicron keeps popping up around the world but there is a new treatment that could fight it. and shoppers are scooping up all those one affect -- one-of-a-kind gifts. the ceo of etsy joins us to talk about how he makes sure that everybody has a very happy holiday. let's get a look at the market. another volatile day. >> we went from the biggest today decline. volatility is associated with omicron. this is a pocket of weakness. you can see that recited in the nasdaq 100. a very tech andy -- tech heavy index. this was in positive territory. a lot of that to do with apple. on a day when we were really in risk on mode, there were something encrypted currencies across the board. other important news came around u.s. listed chinese companies. this is -- this pared back some of those losses to trade at the lowest level since may. the sec coming out and saying it has a plan to look at these chinese companies listed in america and take abou

chang. emily: i'm emily in san francisco. covid tests hard to come by as cases rise. now president biden is preparing to send half a billion free covid to american homes, starting next

this is "bloomberg technology" with emily chang. ♪ emily: i'm emily chang in san francisco. coming up in the next hour -- dr. fauci: we knew that it was just a matter of time before the first case of omicron would be detected in the united states.

emily: welcome back to bloomberg technology. i'm emily chang in san francisco. there was a crypto flash crash over the weekend but bloomberg's ed ludlow is here with what it means. what happened? ed: this is the joy of crypto currencies trading 24-7 around the clock. i don't know what you were up to saturday. a drop of almost 22% over the course of that trading period. we recovered somewhat but it was a dramatic kind of drop and it left people asking questions about what's driving it. of course, weekends we have thin liquidity, much lower trading volumes going on, people exercising options, as well, to cover some of the positions. the -- there's a narrative around bitcoin if you compare it to ethereum. a big part of the bitcoin story has been institutional investors buying all year long and we know that 50% of bitcoin holders you new first-time bitcoin holders this year but what we see in the data, you see on the chart, is ethereum experienced a much less dramatic drop and much quicker recovery so it's become a double edged sword for bitcoin because while it was

chang. ♪ emily: i'm emily chang in san francisco and this is "bloomberg technology." coming up in the next hour, a breakout year for crypto. that is how the coinbase coo emily choi described 2021. but is a crypto winter ahead? i will ask her in an exclusive interview, coming up.

with emily chang. emily: hospital admissions jump, booster shot recommendations expand, and the omicron variant continues to spread. we will have a virus update. plus,

chang. taylor: this is a bloomberg technology. coming up in the next hour, the fda has cleared merck's covid pill for high-risk adults with no other treatment options.

chang. >> i'm taylor riggs in for emily chang. this is bloomberg technology. in the next hour, the fda has cleared merck's covid bill for high-risk adults with no other treatment options ordering 3 million doses just as a new wave of infection this starting to take hold. plus, jack dorsey takes on web three with skepticism. m km partners have more faith, predicting it makes the splash in 2022. of course, intel is facing some criticism over china after it asked suppliers not to use xinjiang labor products. it is threatening to ensnare the u.s. chipmaker in a dispute over human rights in that far western chinese region. first let's look at markets. we do that with pretty goop that. -- kriti gupta. kriti: the s&p 500 is closing 6/10 ever-present higher. the nasdaq up 1.2% in the session. it is not just a risk on vibe in stocks. it is in the treasury yields as well. you see the 10 year up by four basis points. of course, the bloomberg crypto index, some cryptocurrencies actually outperformed today. let's go back to the volume story. i

rishaad: grab's co-founder with emily chang. this is what we have right now -- it is not the first time he has done this, is also on the record as saying at the end of last month that he is selling almost all physical possessions and will open house. there we go. david: also moving from california to texas. take a look at trade futures right now as we approach the midmorning session. of course, we are moving into the hour with india opening up. coming off lows of the session. anyway, breaking news, as rishaad was pointing out. elon musk selling a further $1 billion worth of shares. plenty more ahead. this is bloomberg. ♪ ♪ - [announcer] imagine having fuller, thicker, more voluminous hair instantly. all it takes is just one session at hairclub. introducing xtrands. xtrands adds hundreds or even thousands of hair strands to your existing hair at the root. they're personalized to match your own natural hair color and texture, so they'll blend right in for a natural, effortless look. call in the next five minutes and when you b

emily: i am emily chang in san francisco. intel revved up plans to speed up its self driving car business. they could generate billions for the lagging chipmaker. is there a catch? we will discuss.

>> this is "bloomberg technology ," with emily chang. emily: this is "bloomberg technology," coming up in the next hour, the ceo of uber declares it is now an all weather company that can handle all of the roadblocks coming its way, from omicron to regulation and he predicts why they will hit an all-time high in 2020 two. our exclusive interview, next. women, back to renting the runway? we talk about the return of designer e, post-pandemic. is the crypto winter already setting in? we have the latest on crypto volatility and get key predictions from jesse powell and gary tan. all of that in a moment but first let's get a look at the markets, where all investors have their eyes on inflation. ed ludlow is here with more. take it away. ed to: keck was the most performing -- worst-performing sector. there's a fed meeting on wednesday with producer prices coming in hot on the month of november and the expectation that the fed is going to accelerate the pace of tapering with a steeper curve on rate rises. you see it playing out with underperfor

." ♪ emily: i'm emily chang in san francisco and this is "bloomberg technology." of the next 30 minutes were on one of the tech topics of the year, that is crypto. we'll talk about it with michael, who now owns more bitcoin than any other company in the world. plus, the first coin etf, a milestone for the industry. talk to the company behind that move. and non-fungible tokens stage a resurgence after fading from the headlines during bitcoins springtime suite. first, bitcoin, after starting the year at just above 18,000. who better to talk to a bout all -- about all that volatility than michael, who owns the biggest pile of bitcoins yet. take a listen. >> we are getting a lot of attention from investors. we appreciate that. i think microstrategy is a leveraged, long bitcoin play. investors are trying to evaluate how to separate the two businesses and our growth prospects in either. our strategy with bitcoin is we acquire bitcoin, when we think the market timing is right. it has worked out pretty well for the past 12 months. we've got of -- about 3.1 billion dollars

chang. >> i'm taylor riggs in for emily chang. this is bloomberg technology. in the next hour, the fda has cleared merck's covid bill for high-risk adults with no other treatment options ordering 3 million doses just as

chang. ♪ emily: i am emily chang in san francisco and this is "bloomberg technology". of covid tests hard to come by as cases rise. president biden preparing to send half a billion free covid tests to american homes starting next month.

in silicon valley and beyond, as is -- this is bloomberg technology with emily chang. carolyn: welcome to bloomberg technology. i am caroline hyde. i have absolutely no script some on the television prompter so i will be ad-libbing as we move toward the marquis technology headlines. i'm looking at the movement in shares as the fdli

emily: i'm emily chang in san francisco. this is bloomberg technology. senator joe manchin shocked democrats and the white house with his opposition to biden's $1.75 trillion economic plan, sending the future of build back

emily: i'm emily chang in san francisco and this is "bloomberg technology." coming up, covid cases rise and return to office plans fall. how wall street and silicon valley are doing, and the rto timelines. we will talk to a top facebook

chang. taylor: this is a bloomberg technology. coming up in the next hour, the fda has cleared merck's covid pill for high-risk adults with no other treatment options. u.s. ordering 3 million doses as a new wave of infections is starting to take hold. jack dorsey takes on web three with some skepticism. i'm km partners has more faith, predicting it makes quite the splash in 2022. more on those big tech productions in the hour. intel facing some criticism over in china after it asked suppliers not to use she showing labor and products. it is threatening to ensnare the u.s. chipmaker in dispute over human rights. we will get to all of that in a moment. let's take a look at the markets. we do that with kriti gupta. kriti: another record high for the s&p 500 coming amid thin volume. the s&p 500 closing 6/10 of a percent higher and showing up with big tech leading the gains. you can see the nasdaq at one point up 1.2 in the session. you sell it in -- you solid in treasury yields. our favorite ris

in silicon valley and beyond, this is "bloomberg technology" with emily chang. ♪

dani: grab's co-founder speaking with emily chang. it dropped 21% after completing the, biggest spac merger ever tom. tom: sticking with the merger, antitrust officials are suing, $40 billion takeover of arm. it's not a major surprise, but what they are saying, officials in the u.s., they're concerned about what this will do for innovation. arm licenses technology to many competitors coming from, amongst others, ibm. they have been lobbying hard against this deal. dani: it's really fascinating to see many analysts, many investors didn't think this would go through anyway, and they didn't need it to go through. i also just want to mention, as lagarde's speaking, she's saying it's very unlikely the ecb will raise interest rates in 2022. she has been saying that if conditions are met, she will raise them, clearly not happening next year. that's it for the european market open. "surveillance: early edition" is up next. you are not gone from a just yet. i'm sticking around. this is bloomberg. ♪ this is bloomberg. ♪ mom, hurry! our show

chang. emily: this is "bloomberg technology," coming up in the next hour, the ceo of uber declares it is now an all weather company that can handle all of the roadblocks coming its

. >> the grab cofounder with emily chang. we will have more on that in the next hour. ♪ ♪ >> welcome to daybreak asia. i am shery ahn. >> i am haidi -- top stories this hour, off the back of u.s. gains has dipped behind the merge over omicron concerns. gains of opec-plus on outward highs. chinese developer kaiser admits it may not meet applications after bondholders object an offer for $400 million in bonds. -- tumbles in its new york debut after its record-setting deal. >> a mixed picture when it comes to japan and korea. nikkei up .25%, held by real estate and industrial companies. we set the japanese yen fall for the fourth time in three days. now holding 113 against the u.s. dollar. we are seeing -- buying. we are watching jd be we have seen the benchmark 10 year yield decline after solid data auction and of its right now we are watching what is happening with the omicron variant spreading. we are seeing downside pressure, .4%. this is as we got news south korea will be putting in place more restrictions when it comes

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 i

change. we were discussing a few weeks ago how this year has seen stellar earnings and that is unlikely to be repeated. how does the risk reward ratio alter next year? >> the irony at the moment is you have divergent policy between the two biggest economies and both markets, the u.s. and china, have credit spreads widening. the paradox now is that changes risk premium for equities, and you've seen volatility in the u.s. picking up, and in china as well. for two of the biggest markets in the world, you have to look at returns per unit of risk. rishaad: per unit of risk? sean: sharpe ratio, and the last 12 months, all one way. good gdp numbers and economic surprises, but this time around it will be volatility. i think the 12 months going forward will be one of the most difficult periods the last two decades. credit spreads widening so quickly after recovery, we have never seen this before. yvonne: you mentioned diversions from the fed and pboc, and that is our question of the day, how will th

chang. ♪ emily: hospital admissions jump, booster shot recommendations expand, and the omro

chang. ♪ emily: i am emily chang in san francisco. we will take a deep dive into the dramatic post-pandemic work shift, some companies going fully remote, some demanding all workers r

emilie: absolutely. that is perfectly right. we are seeing with the pandemic of the acceleration of the way consumers change their habits, and the way we work from home. that has come on the way things have accelerated has meant there is more funding across both sides of the atlantic. we see an acceleration in europe, and all these companies moving on, and we can come back to that with statistics. tom: some would say finally for european tech they are seeing love from the u.s. that is where some of this funding is coming from, you listed that in your point. where was it going? which parts of the technology sector are benefiting from this flood of investment? emilie: when we survey investors this year compared to last year, the top sector in the tech space that they are interested in is digital security, the esg problems we have, and the health tech, payment and fintech are also in the top five. compared to last year in the top five you had e-commerce and data, and that has stepped down replaced by health tech and fintech. that i

emily: i'm sure you will hear the same thing for democrats, that their party has changed. that has really come about through a number of things, both structural and relating to the country as a whole. kailey: we are focused very much on the federal reserve here. we have any indication that you will get confirmation for the second term for jerome powell and lael brainard by year-end? emily: the senate is hoping to move quickly. sharad brown does want to get these hearings underway. we are already hearing from democrats and republicans that there might be bipartisan support. i will be here today and here on thursday. jonathan: emily wilkins, great to have you assessed. back page of "the new york post" today, "nothing to see here." of course, we will have full coverage of the jets and giants, but we will not force you to see the carnage on the back page. you like that? back page of "the new york post" today. tom: i can't provide wisdom on this other than saying -- jonathan: kailey leinz, would have got coming up? kailey: now you know who's going to be in the playoffs. you hav

emily: we have the entire house up for reelection. the interesting thing is that many members are now representing slightly new districts. that means we will have members facing off against other members. it also means, as you point out, we are seeing a large number of retirements, more than 20 democrats at this point have said they will not be coming back next year, either because they are running for other office or just because they want to leave. that includes some lawmakers at the heads of their committees and a very powerful positions. that is really an indication of some concern about whether or not democrats are going to be able to hold the house next year. in the senate, you have about 1/3 of senators who are going to be running again. right now, the way the map looks is it could be anyone's game. democrats could wind up coming out ahead. we are just going to have to see how some of these races shape up in terms of which candidates ultimately go against each other in november. guy: what role will donald trump play in the midt

chang. ♪ emily: i am emily chang in san francisco.