emily chang spoke with her. she talked a little bit about the economic recovery and more important, that digital ad recovery. emily: google shares up this year on the thought that this is a big reopening play. when people start coming back to work, that means big bucks for google's search revenue and youtuber brand advertising. i just got off the call with her about what they are seeing worldwide in terms of trend. she did not offer a tongue more in terms of additional color but did say everything they are seeing is positive. does she expect the behavior to continue? she said, we think it is too early to forecast the extent to which these changes will en dure. the pace of recovery is very different around the globe. certainly revenue and earnings beating it. she used the word lapping. from what we saw this time last year. joe: i joked earlier about how investors like these stocks because they are making gobs of money. some of those might disappear under a different tax regime. what is the potential impact of tax

chang. ♪ emily: i am emily chang in san francisco and this is "bloomberg technology." dd opens 90% above its ipo price but loses almost all gains before the close. a live report on the chinese ride-hailer from aging and investor reaction. crypto evangelist mike nova grants joins us to talk about the ups and downs of bitcoin. also, slack ceo stewart butterfield with new tools on a high-speed workforce. they are of work as he sees it later this summer. first, slow trading and small moves mark the end of the best first half for stocks since 1998. krit gupta. kriti: let's start micro before we zoom out. ford down on the day 1% after nine plants reduced output due to chip shortages and parts shortages hating the industry broadly. this company finally getting unconditional e.u. approval for a takeover, crucial. and you mentioned didi, ending 1% after $4.4 billion was raised in an ipo. apple higher, but note they are dealing with a legal battle when it comes to their apple watch, mossimo corporation filing complaints the itc, really crucial to talk about when we talk about ap

emily: i'm emily chang in san francisco and this is bloomberg technology. coming up, jack dorsey resigns as ceo of twitter. we will talk about what new leadership means for the future of the internet town square. plus, omicron. how worried should we be? the world health organization says despite milder symptoms, the new variant could fuel surges with severe consequences. moderna's co-founder joins us. and the return of black friday. visits to stores and shopping centers up but still well below pre-pandemic levels. how is cyber monday stacking up? we will discuss. first, let's get a look at the market stocks climbing and bonds falling after a elective sense of calm returned to global markets. investors reassessing worst-case scenarios for the omicron virus strain. critic group to joins us. how investors digesting this today? >> they're turning back some of the panic you saw on friday. we have seen variants before. completely normal behavior. we saw this in july when we had the delta variant first emerge. this panic selling among asset classes. the next tradi

i'm emily chang in san francisco. a breakthrough for the pharmaceutical company biogen. the fda cleared its alzheimer's therapy in a landmark decision that could dramatically change treatment of a debilitating brain condition. the ceo of biogen joint bloomberg earlier after the decision was announced. >> down the road, there might be additional -- many years before we can see the scientific proof. as i was just saying, we have three compounds with similar activity and we are the first one in the market. in a few years, there will be others. we invite them because the market is so large. emily: let's see how this played out in the markets. a lot of movement. kriti gupta joins us with more. how did this impact shares today? kriti: a 38% jump in shares not just helping those shares but helping the entire biotech index gained the most since november 4, the day after the election when tech as a whole was rallying as part of that defense of that defensive trade. in really good day for biogen and even better day for biotech

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

this is bloomberg. ♪ ♪ emily: i'm emily chang in san francisco and this is "bloomberg technology." amazon bombshell. the company says founder and ceo jeff bezos will step down to become executive chair. andy jassy, who has been running amazon web services, will become the next ceo.

emily: i'm emily chang in san francisco and this is "bloomberg technology." tech earnings season in full swing. apple's new restriction on data collection is hitting hard. intel falling on a lackluster forecast. second time is a charm. wework makes its debut after a disaster in 2019. new leadership and a pandemic has change the company dramatically but one thing stays the same, it is still losing money. we will dive into it. it's been 20 years since the ipod, a device that ignited a wave of apple innovations. we'll talk about apple today and what the next big thing might be. first let's get a look at the markets, u.s. stocks rising to an all-time high, the seventh day of the gains. kriti gupta is standing by to tell us why. >> closing a record highs. it is important to know what to get forward. it was big tech under the hood, a little defensive positioning today. you can see that bolstered by the idea that some of the riskier gauges or the bloomberg crypto index down on the day. cross asset trade was defensive, not just in the stock market but the bond market

this is bloomberg technology with emily chang. ♪ caroline: caroline hyde in for emily chang. coming up in the next hour, we we head to texas where emily is at the blue origin launch site. find out what to express -- expect when jeff bezos heads to space. it could be the fifth biggest on the u.s. exchange in this record-setting year for public offering. globalfoundries looking to rebrand itself amid a chip shortage. a change in image and how it could impact the larger industry. first, we've got to get into the stock slump. around the world, warnings from health officials of a resurgence of covid-19. an escalation in tensions between the u.s. and china. >> it was a really big confluence. what i called a risk factor stew is what you are seeing. s&p 500 down 1.6%. you sawtek just a little more insulated with some of those other sectors. nasdaq 100 down. compared to the s&p 500 index, the bed bad. this coming as we start seeing yields down as well. a whopping 10 basis points. where did all the money go? treasury is a given, but where else? it went into the dollar, up 0.3%. there w

an emily chang in san francisco. -- i am emily chang in san francisco. this company's annual revenue surpassed a $10 billion for the first time. up 27% from the last year. joining us is the link in ceo. congratulations, good to have you. you took over as ceo in the middle of a pandemic. the whole platform was going through a transition. what was that like to navigate? ryan: by no means did i think i would be starting this role from my bedroom with my kids doing school work around the house, trying to navigate the company through a global pandemic. more than anything, i am really proud of how our company came together. we are in a place where over 6000 people -- this is tilting in what we announced yesterday. for the first time in history, 10 million dollars in revenue. i am very proud of that. >> you also talking -- you are also talking about this great change in the workforce. i am wondering what the changes are that you see. ryan: if you take a step back. by virtue of us being linked in and seeing professional conversations happen across the globe. fun

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. 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 am emily chang. this is bumper technology. elon musk unloads $5 billion worth of tesla shares as the billionaire tax debate continues to rev up. he plans -- planned to sell them long before his twitter pole. we will talk about what that really means. bumble shares falling to their lowest levels after a drop in subscribers at its europe eating -- european dating app. we will talk about the future of dating in a post-covid world. and alibaba raking in more than $44 billion in sales. how this impacts the chinese tech giant after a year of scrutiny from beijing. let's get a look at the markets. u.s. stocks playback rebounds. disney sloping on the back of earnings. quite a few to have the s&p jumping back a little higher today. more than that, you have the nasdaq rising higher than the s&p. the russell 2000 is rising higher than that. you do have a pretty broad-based rise here. that volatility has not been enough to deter some of the risk-taking we have seen. we have the crypto index. it was very recently that we had crypto hitting

chang. ♪ emily: i'm emily chang in san francisco and this is "bloomberg technology." beijing taking steps to take control of didi, the world' is biggest ride-hailer. we will discuss. ♪ plus, will lake tahoe be saved? firefighters say there is a chance they may prevent a massive wildfire from reaching the iconic landmark in california. talk to a teenager who built a fire tracking bot to help stop the next big fire. ♪ and going beach. how a small surf town in el salvador has become a hotspot for crypto innovation ahead of the country's decision to make bitcoin legal tender. all that in a moment, but first, marcus didn't know which way to go after the release of the latest jobs report in the u.s. hiring slowed abruptly, newest job gains in seven months. persistent hiring challenges, and the delta strain. here is president biden. >> the delta variant is why today's report is stronger. people were looking and i was hoping for a higher number. next week, i will lay out the next steps we are going to need to combat the delta variant, to address some of those fears. emily

with emily chang. ♪ emily: i'm emily chang in san francisco, this is "bloomberg technology." coming up, the washington dc attorney general slaps amazon with an antitrust suit, accusing the behemoth of forcing third-party sellers to offer the lowest prices on amazon. sellers tell bloomberg even if they offer a lower price on their own website, the amazon listing gets buried. amazon pushing back hard. we will discuss. video darling vimeo counts amazon and starbucks among its biggest customers, but the provider plunges in its public debut after splitting off from iac. did they get it wrong? i will speak to vimeo's ceo. and it has been one year since the tragic death of george floyd ignited a wave of protests. the biggest companies in the world, including apple, amazon, and facebook vowed to do better. how much has really changed? how promises haven't necessarily been kept. we will get to that in a moment. let's look at the markets. stocks climbed for another day this week. walk us through the day. >> it was a pretty quiet day. trading volume much below that of recent averages. t

chang. ♪ emily: i am emily chang in san francisco, and this is "bloomberg technology." dd opens 90% above its ipo price but loses almost all gains before the close. a live report on the chinese ride-hailer from aging and -- beijing and we will get investor reaction. crypto evangelist mike novogratz joins us to talk about the ups and downs of bitcoin. also, slack ceo stewart butterfield with new tools on a high-speed workforce. -- hybrid workforce. they are of work as he sees it later this summer. first, slow trading and small moves mark the end of the best first half for stocks since 1998. kriti: let's start micro before we zoom out. that is where a good chunk of the action is. ford down on the day 1% after nine plants reduced output due to chip shortages and parts shortages, hitting the industry broadly. this company finally getting unconditional e.u. approval for a takeover, crucial. and you mentioned didi, ending 1% after $4.4 billion was raised in an ipo. apple higher, but note they are dealing with a legal battle when it comes to their apple watch, mossimo corporat

let's do this with emily chang, who is getting off the call with alphabet's cfo. what are they saying about this echo what are the key takeaways? emily: obviously very optimistic about the quarter, looking pretty good across the board. she said the consumer sentiment is broad-based and remains strong and even as the world reopens, she believes that is a trend that will stick. specifically she said digital is real even as people start to get vaccines and the world reopens, people want more choice and information. the online to off-line work continues to be relevant. we tried to zero in on supply chain issues. i asked her what kind of challenges they are seeing. she says they have been managing the challenges well. she believes they are working closely with partners to plan and pivot where and when they need and with a strong man for the pixel six machine says they expect some supply constraints. i specifically asked her if they are seeing advertisers pullback because of supply chain issues, because they don't want to advertise products coming over the holidays that

chang. ♪ emily: i am emily chang in san francisco and this is "bloomberg technology." coming up, the web's hidden weak spots. an hour long outage takes down large swaths of the internet. amazon and google go dark. even though they are back online, we will examine just how vulnerable we all are in a digital world. plus, bitcoin tumbles again as experts warn of a looming technical breakdown. we are going to talk to an angel crypto investor about he tom watson the wild price swings -- about how he stomachs the wild price swings. and california and the west are bracing for another year of raging wildfires. how bad will it get, and how are officials preparing? i will ask the california secretary of the environment on the heels of governor newsom's massive funding to combat them at change. first, u.s. stocks hovering near a record on tuesday. kriti gupta has more. breakdown the day. kriti: kind of a flat session today which is why i want to dive into the nasdaq 100. just a few weeks ago, we were talking about some major selling pressure in this index. now it is starting to e

emily: i am emily chang in san francisco and this is abloomberg technology.a coming up, a tale of two failures, zillow and the hot -- i travel rebound boosting uber and airbnb. uber reporting its first ever profit on renewed ride-hailing demand, airbnb reporting its best quarter ever. peloton plunging on a grim outlook for the exercise bike leader. we will have it all. plus, a light at the end of the tunnel for the chip crunch. that is what investors seem to be seeing. the chipmaker soaring on the back of a bullish forecast. i will talk to the ceo about whether the worst is over. and the former ceo of google says the age of ai is here. should we be excited or terrified? eric schmidt will join us for a wide-ranging conversation about the power of artificial intelligence, algorithms and big tech and how we humans can coexist with it. we will get to all of that in a moment but let's get a look at the markets, tech and retail. ed ludlow has more. >> there is a lot for investors to take on board. we know the fed will start winding down asset purchases. earnings are top of mind. the s&p 500

i am emily chang in san francisco. this is bloomberg. ♪ yousef: this is "bloomberg daybreak: middle east." the global selloff deepens amid concern on surging prices. the nikkei had fallen 10% since september, and s&p 500 is at its lowest since july. opec-plus maintains its planned gradual increase of supply despite the energy crunch. president biden warns the u.s. is at risk

emily: i am emily chang in san francisco. this is bloomberg technology. coming up in the next hour, antitrust reforms introduced by a group of house lawmakers includes going after big tech megamerger's. we will hear from victoria spartz of indiana. plus, both sides of the crypto coin, the future of regulation with hector pierce and on the investment side, we have michael of the crypto asset scale -- grayscale. disney moves a documentary about the beatles from theaters to its streaming service. all of the stories in a moment but first, a check of the markets including the tech heavy nasdaq. kriti gupta is here with that. kriti: the nasdaq outperformed. you can see that massive surge higher before we went into that fed meeting yesterday that rock the markets. this is not just today's story. you are seeing this on a weekly basis. tech is performing. crucial to say after the underperformers for the first five months of the year. june really let it hit its stride. the first two months of june are doing well for the tech sectors. it accelerated. with that defen

>> this is bloomberg with emily chang. emily: coming up in the next hour, apple showcased new devices at an unleased event and we're looking at the up and its most dramatic move yet. or than 6.7 billion vaccine doses have been administered, enough to fully vaccinate over 43% of the global population. speaking with the moderna ceo in an exclusive interview. and for merely going broke to a billion-dollar dollar buyout from amazon. will talk to the ceo of ring about living under the amazon roof and the hottest products, coming up this holiday season. all that in a moment, but first let's get a look with -- at the markets. >> green on the screen, all thanks to big tech. microsoft leading the index higher. a little bit of defensive positioning, that's what we saw, we also have a lot of risk on sentiment, it look like after hours is going to slip from that over 61,000 level, something to watch as we go to tomorrow's session. one of the things that happen in the past couple of weeks was the correction for a lot of these big tech

chang. ♪ emily: i'm emily chang in san francisco, this is "bloomberg technology." coming up, the washington dc attorney general slaps amazon with an antitrust suit, accusing the behemoth of forcing third-party sellers to offer the lowest prices on amazon. sellers tell bloomberg even if they offer a lower price on their own website, the amazon listing gets buried. amazon pushing back hard. we will discuss. video darling vimeo counts amazon and starbucks among its biggest customers, but the provider plunges in its public debut after splitting off from iac. did they get it wrong? i will speak to vimeo's ceo. and it has been one year since the tragic death of george floyd ignited a wave of protests. the biggest companies in the world, including apple, amazon, and facebook vowed to do better. how much has really changed? we will show you how promises haven't necessarily been kept. we will get to that in a moment. let's look at the markets. first stocks climbed for another day this week. walk us through the day. >> it was a pretty quiet day. new south volumes much below

this is "bloomberg technology" with emily chang. emily: i am emily chang in san francisco. by now, pay later. it is not a new concept, but it is the latest push by apple to get users to use apple pay. how it will rival paypal and affirm. plus, arianna huffington continues to thrive. her wellness company gets a $750 million valuation after raising fresh funding. what is next for the company looking to minimize burn out? could nft's for the washington wizards be a slamdunk? owner ted leonsis think so. we will talk about whether he thinks crypto will be a big part of the future of professional sports. that's later this hour. all that in a moment. first, we will look at the markets with kriti gupta. kriti: risk off day and it all had to do with the cpi. nearly double the surveyed amount. 0.5%, that is what economists were surveyed to really expect. 0.9%. once again, the inflation fears really strong, but it did not show up in tech sectors, cyclical sectors. it was across the board. risk off. we saw people take cash off when it came to the market and dive into treasuries. treasu

emily: i'm emily chang and this is bloomberg technology. a tale of covid winners and losers. a rebound boosting uber and airbnb. uber reporting it's first ever profit. airbnb reporting its best quarter ever. peloton plunging on agreement outlook. we have it all. the light at the end of the tunnel for the chip crunch, what investors seek with qualcomm's earning outlook, soaring on the back of the forecast with the ceo about whether the worst is over. the former ceo of google says the age of ai is here but should we be excited or terrified? he will join us for a conversation about the power of artificial intelligence, algorithms, and big tech and how humans can coexist within. we will get to all of that in a moment but let's get a look at the markets, tech and retail driving the s&p higher while the nasdaq extended its rally into a ninth straight day. ed ludlow has more. happy birthday. ed: there is a lot for investors. the fed will wind down asset purchases, earnings top of mind. broad strength across equity markets with the s&p up .4% but tech lead the way with the nasdaq 100

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

emily: i'm emily chang in san francisco. this is bloomberg technology. if coming up, antitrust showdown in the house. it takes up a series of bills like to change the internet as we know it. tech giants mount their defense. we will have the latest. bitcoin rebounds but there may be more choppy waters ahead as china enforces its current crackdown. more u.s. regulations? we will explore. the retrial market is expected to double to $77 billion over the next five years. we will check in with julia wainwright on how she is positioning the company for demand as she celebrates a decade in business. those stories in the moment but nasdaq climbing for a third day and bitcoin bouncing back. let's get to aleppo who has more. >> reforms in bitcoin. we broke down below 30,000 u.s. dollars. throughout wednesday, trading in a range of 30,000, 30 4000 u.s. dollars. everyone is trying to make sense of this. look at this chart. let me give you my fact of the day. we are talking about this issue of bitcoins 50 day moving average falling belay -- below its 200 day moving av

emily: i am emily chang in san francisco at this is bloomberg technology. tough times, new disney+ subscribers drilling netflix by a long shot. is disney's streaming se

with emily chang. emily: i'm emily chang in san francisco and this is bloomberg technology. a big departure in silicon valley. the chief technology officer plans to step down next year, this as the social network faces intense criticism. that the technology is developed to moderate harmful content doesn't work as promised. uber trying to get more drivers on the road, reduce wait time, as they push toward profitability. we speak with the ceo later this hour. president biden calls on other nations to help vastly expand production of covid vaccine and treatment to end the pandemic. an additional 500 million doses of pfizer vaccine will be donated to other countries. we will bring you the details. we get to that in a moment. fed chair jerome powell said the central bank can scale back purchases as soon as november and complete the fallback by 2022 after officials revealed a growing inclination to raise interest rates next year. >> continuing to expect, it is appropriate to maintain the target range for the federal funds rate until labor market conditions have reached levels with

this is bloomberg technology with emily chang. ♪ emily: i am emily chang incident sysco. coming up in the next hour, tim cook takes the stand in the climax of the apple epic trial. the ceo testifying for over three hours, facing pointed questions by epic attorneys. i was at the courthouse. we will bring you expert opinion on how well apple fared. plus, it coin slides again after china reiterates it will control4 -- crack down on mining. a digital first brand kept growing. with masks coming off, it is all about lipstick. i will talk to the ceo about a beauty boom starting now. we will get to all of that. first, we are awaiting a news conference from president biden and the south korean president. they have been talking about the global chip shortage and other issues. we are going to bring that to you live. in the meantime, i want to take a look at the markets. crypto, another wild week. ed: a lot of volatility and risk assets. you can see the s&p 500, basically flat. slightly negative territory. we have been down for four days and had a rally thursday. really, volatility i

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

chang. ♪ emily: i am emily chang. welcome to a special edition of bloomberg technology. we are coming to you live from the goldman sachs innovators summit in california in the heart of the wine country. this is where goldman brings together 100 entrepreneurs coming from the next generation of emerging companies with seasoned executives and it it's back and person for the first time in a long time. this for its 10th annual installment. i spoke to david solomon and the speakers here. and former president george w. bush, ll cool j, and so much more. we have a great show for you. we will be joined by reid hoffman, the cofounder of linkedin, partner at greatbatch partners and tape writer and another of exciting entrepreneurs. i want to kick it off with dan d's -- dees, cohead of investment banking. it is you to us because dan: this conference is designed to celebrate and promote and foster entrepreneurship and innovation. we do dozens of conferences every year as you noted and they tend to be aligned around industries and

chang. ♪ emily: i'm emily chang in san francisco, and this is "bloomberg technology." coming up in the next hour, an intolerable level -- that is how a cybersecurity firm describes the volume of ransomware attacks in the u.s. while testifying on capitol hill. we will hear from the ceo. plus, crypto concerns. we will speak with u.s. senator elizabeth warren about what she thinks about the flood of digital currencies in and out $2 trillion market. her take on what regulation should look like. and this company's shares jumping 20% on the first day of trading. we will hear from the ceo. all those conversations in a moment but big news out of first, gamestop. not only did the company report first-quarter earnings, but it named a new leadership team and it has details on an sec probe. our kriti gupta has been following the story and a new ceo for gamestop, a longtime amazon executive. kriti: absolutely. we know that ryan cohen has been gung ho about being able to compete with amazon.com, and he kind of got his wish list. take a look at this. the ceo and cfo are both amazon v

chang. ♪ emily: i am emily chang in san francisco. this is bloomberg technology. a crypto cracked temp unit china bands all crypto transactions. crypto trading and mining in china now illegal. will other countries follow suit or sees an opportunity? we will discuss. the huawei ceo on house arrest since strikes a deal with the doj to resolve criminal charges against her. could this breakthrough ease tensions between china, canada, and the u.s.? details this hour. the man of mystery who has wielded his power to influence tech, trump, and game irs to make billions in, we talked about his book "the contrarian," a look into the continuing power plays. straight to the top story. beijing's campaign against crypto taking on urgency. the people's bank of china has deemed crypto related transactions illegal. it has vowed to and mining and stop offshore exchanges from conducting business with chinese citizens. this crackdown cements a shift in the balance of power away from one of the first countries to embrace crypto. covering the stories from

i'm emily chang in san francisco. let's get to the china regulatory crackdown. after a what buster year, it's all about china. blank check companies are spooked and have changed their tune. ed ludlow is here with the latest. tell us about the about-face. ed: it's the industry crackdown weighing on investor sediment. a lot of these packs filed with the intention of later merging with the mainland china tech company, now there they can about its viability going forward. the other is the ftc is requiring more documentation than ever and more disclosures, basically explaining the risk of doing business in mainland china. we have for spac's here that in recent months have amended their filings to remove references to the word china. in one, they amended their filing not only to remove the reference to china but said explicitly under their association, they are prevented, prohibit completely from doing a deal with the chinese company out of concern it may not go that well. the question is is this an overdone concern? if we

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

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i'm emily chang in san francisco. let's get back to the markets, looking at grocery delivery startup instacart. kriti gupta has been following the grocery space in new york. what are you seeing? kriti: let's just start with the background here. food prices are surging and instacart might be considering an ipo at some point in the future, potentially taking on amazon. i really want to start with the food prices, because you do see inflation becoming a major theme, even for these tech companies. food prices gained. let's put into perspective those companies that have that -- what those companies that have that platform are doing. you can see instacart may have lessons to learn, going all the way back to 2017, there is a tiny dip in kroger shares five years ago. that was a huge deal, that is when amazon announced their acquisition of whole foods and since then, you can see how much they have gained. walmart ramping up their own e-commerce. you can see how much it outperformed kroger. you can see that groceries are becomi

this is bloomberg. ♪ emily: welcome back to bloomberg technology. i'm emily chang. i want to talk about tesla in china -- a few tech stories we are continuing to watch. tesla overcoming a broad slump in overall car sales. overall shipments of china-made cars rose for the second month in a row. where than 52,000 were sold. meantime, car sales fell 17% in september. plus, general motors reached an agreement with lg over a recall of battery. the south korean company will pay $1.9 billion. the manufacturing defect had a -- an increased risk of fire. stay with us after this break. ♪ emily: the grade miami tech rush started with a tweet from the mayor asking how can i help in response to a venture capitalist who openly wondered about the prospect of living silicon valley to miami. this kick started a new boom of sorts in a state known for real estate and hospitality businesses more than it tech scene. at the miami mayor is betting big on a growing tech community, especially crypto, announcing the city's own crypto currency, miami coin. let's dig in to all of this now wi

♪ ♪ ♪ >> i am emily chang. this is “bloomberg technology” >> that you take the tips and give them to your coach? >> no, i will stand up for canadian interests. >> coming up, the stories that shape the we can business around the world. >> thank you. >> it builds a conglomerate. >> they have it. you have to bring into reality. >> we can do anything. ♪ ♪ ♪ ♪ ♪ ♪ ♪ >> from the heart of where innovation, money, power and collide in silicon valley and beyond. this is “bloomberg technology” with emily chang. ♪ emily: i'm emily chang in san francisco and this is “bloomberg technology.” over the next 30 minutes, we will bring you some of the biggest interviews with chip makers as the chip shortage continues to disrupt the supply chains around the world. which industries are hurting the most and what's the outlook for 2022? plus, our conversation with war the ceo of qualcomm, who is poised to take advantage of a wave of enough devices and the chip maker continues to challenge intel with major

i'm emily chang in san francisco and this is bloomberg. ♪ haidi: good morning. shery: good evening from new york. tech shares tumble in late trading after results from apple and amazon disappoint. haidi: rebranding at

chang. ♪ emily: i am emily chang in san francisco, and this is "bloomberg technology." coming up, walmart roped into a a crypto hoax. a release claims the massive retailer will start accepting litecoin as a form of payment. only problem, the release was fake. the founder of litecoin will join us exclusively to tell us his side of the story. plus, appeals on the back of a massive verdict in its case against apple. what is round two for the game maker versus the iphone maker? we chart the long road ahead. this on the eve of apple and billing its next generation of iphones, watches, may be even ipads mark gurman would raise the. . curtain on apples virtual event. first let's get a look at the markets. lots to talk about with our bloomberg kriti gupta. kriti: a bit of a choppy session. you didn't see tech lead the index higher, though this was the first positive session for the s&p 500 in six down days. chinese stocks as well. once again not getting in on that. i want to show you what drawdowns look like. one of the big concerns is that we are in the month of september. sep

♪ emily: i'm emily chang in san francisco and this is "bloomberg technology." in the next hour, netflix still on fire. paid subscribers increasing 23% year-over-year in the last quarter of the year. global demand, the big driver. we will speak to someone who thinks that netflix needs to keep digging in. could netflix add gaming or could audio even be the way? the chair of the federal communications commission steps down on the day of the inauguration. he took a controversial stance on net neutrality and leaves his successor with some thorny issues. he joins us for his exit interview. and, with president-elect biden poised to take office, what regulation awaits tech giants under a new administration? and, with the potential for more violence, what security measures are being taken at the capital and around the country? tech earnings kicking off after a favorable report after the close. we saw markets getting a boost from tech gains and small caps. walk us through the day. >> let's kick it off with netflix. you are seeing those shares surge in the post-market. be

chang. -- bloomberg technology with emily chang. emily: this is bloomberg technology. coming up in the next hour, a panel of fda advisers pulls back on the idea of boosters for all, instead, backing boosters for a smaller group of more vulnerable people. what does it mean? we will dig in. plus, 360 miles above the earth. four civilian astronauts are near the end of an epic journey. we will get an update. is holding elizabeth holmes accountable sexist? the under -- the author of a controversial piece joins us. you will recognize her name. the project includes ceo ellen powell was us now. first, a look at the markets with ed ludlow. i see a lot of red at the end of the week. welcome. ed: if you times of the year, you see index and equity options expiring. and, high-volume as a result. you see the s&p 500 down 9/10 of 1% and technology the under performer. the nasdaq 100 biggest drop since may. there is a little weakness in semiconductors as well. down 1.5%. really interesting moves in the cryptocurrency space. the bloomberg crypto ind

emily: i'm emily chang and this is "bloomberg technology." and i will sit down with the ceos of bitcoin and airbnb. but conservative outlook for bumble with an all-time low. now hiring, with urgency. amazon puts out the help wanted sign for 75,000 workers, offering signing bonuses. and another crazy day and bitcoin, binance, and elon musk doing a 180 about bitcoin, we will have a reaction to that end earnings with coinbase coo. i will be speaking with emily choi coming up in just about 10 minutes, and at the bottom of the hour, bumble's ceo joining me. later, i will speak to disney ceo an the next hour, airbnb's ceo. the market we go where stocks climbed and kriti gupta has the latest. kriti: green on the screen for the s&p 500, but a little bit of a mixed picture, the nasdaq 100, doing really well today, really rebounding from three sessions of selling and big tech, not joining in on that trade. they were leading the charge earlier in the session before pulling back and now you see them in the red, 0.7% down on the day. i want to show you wh

♪ emily: i'm emily chang in san francisco and this is "bloomberg technology." in the next hour, netflix still on fire. paid subscribers increasing 23% year-over-year in the last quarter of the year. global demand, the big driver. we will speak to someone who thinks that netflix needs to keep digging in. could netflix add gaming or could audio even be the way? the chair of the federal communications commission steps down on the day of the inauguration. he took a controversial stance on net neutrality and leaves his successor with some thorny issues. he joins us for his exit interview. and, with president-elect biden just to take office, what regulation awaits tech giants under a new administration? and, with the potential for more violence, what security measures are being taken at the capital and around the country? tech earnings kicking off after a favorable report after the close. we saw markets getting a boost from tech gains and small caps. walk us through the day. >> let's kick it off with netflix. you are seeing those shares surge in the post-market. beat

chang. ♪ emily: i am emily chang in san francisco. coming up, it is brett taylor's weekend we are living in it. he is salesforce's new co-ceo, the news coming today after taylor was named chair of twitter's board. david marcus is out at meta. the cocreator of the yet to be launched currency steps down, adding uncertainty to facebook's digital payment aspirations. that is a wrap on black friday and cyber monday. we are speaking with the president of shopify about what trends he saw. for the fifth day, the embattled theranos founder elizabeth holmes takes the stand. the latest twist in her testimony, holmes claims she was raped at stanford. we ask a common law professor what he makes of her defense. first, let's get a look at the markets. comments from jerome powell weighed heavily on the major benchmarks. bloomberg's kriti gupta has details. kriti: a double whammy when it comes to the stock market, especially when it comes to tech stocks, which were not able to lift the market higher. futures lower off the bat. a lot of this has to do

i'm emily chang. this is bloomberg. ♪ emily: a year ago the coronavirus pandemic crept into the united states after taking a devastating toll across the globe. the early u.s. outbreak was centered in washington state, just miles away from microsoft's headquarters. there, ceo satya nadella made the call that a significant number of the company's employees could work from home. now his focus is shifting not just keeping employees safe, but keeping them engaged, with the rise of microsoft's cap product-- chat product teams. microsoft's stock has continued to rise during his seven years at the helm after languishing more than a decade under his predecessor. he showed this key guidance with us three years ago. satya: it is not changing everything, it is changing what needs to be changed. emily: since then, microsoft market cap closed $1 trillion, closing in on $2 trillion. but with big tech scrutiny in washington and rising competition in china, n adella's next avenues will be just as fickle. 20 meters m

and this is bloomberg technology with emily chang. emily: i'm emily chang and san francisco. coming up in the next hour, lyft turns its first ever adjusted profit. a milestone for the rideshare that has been losing money since. -- since its founding. can they both grown out of mask mandates are back? plus, after sweeping crackdown on child's most powerful -- china's most powerful technology company, tencent feeling the heat. chinese media calling videogames quote spiritual opium. what this could mean for china's biggest corporation. and, gary gensler finally weighs in on the cryptocurrencies. in his first extended interview about blockchain and bitcoin. bitcoin dropped yet again. first, a look at the markets with bloomberg's kriti gupta. i want to start with lyft delivering its first ever adjusted profit in the second quarter. they said it was coming this year and now they've done it. >> one quarter before they said they would do anything. you can see that really just becoming a game changer and -- in after-hours trading. lift shares -- lyft shares over 4%. this a profit for

chang. ♪ emily: i'm emily chang in san francisco, and this is bloomberg technology. coming up in the next hour, in full swing. intel reporting a lackluster third quarter sales forecast. what it could mean for the ongoing chip shortage. plus, penalties for dds. china continues its crackdown with regulators seeing the ipo as a challenge to beijing's authority. how badly could it hurt investors in the company? elon musk confirms that both spacex and tesla own and why they are continuing to pump and not dump. we'll get to that in a moment. but first, let's get to those tech results and let's see how the markets are reacting. lots of numbers rolling out over the last hour. how is it shaping out? >> a whopping near 16% gain for snapchat. emily, take a look at those shares. they are skyrocketing and continuing to climb. let me get you some numbers here. 293 million. that's how much the company reported last quarter, just shy of the 291 million estimates from analysts. seeing them beat in terms of ad revenue and active users with twitter, as well, you did see them get a high

i'm emily chang in san francisco. to get more on market moves, i believe you're taking us to china. >> check was in charge per that want to show you the best of the trade and the worst of the trade. let's start with the best, the chinese adr's. regulatory scrutiny has been weighing. a lot of technical analyst say despite the regulatory scrutiny in the background, you see that asset gold index. it shares up over 1.3% in that index. interesting when you talk about how they are doing compared to u.s. tech. i want to show you the downside of tech trade, it has everything to do with biotech, down. the only part of the tech universe that underperforms. look at the top three point contributors of the index. has everything to do with the report of the pfizer biontech and moderna vaccines will dominate the non-china vaccine market in 2022. crucial when we talked about how much the vaccine makers will have as they boost supply to high, middle income, and low income nations. they got there point proven today. emily: we will be s