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tv   Bloomberg West  Bloomberg  May 12, 2016 11:00pm-12:01am EDT

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mark: i am mark crumpton and you are watching "bloomberg west." brazil's acting president says it is urgent to unify the country. his first address of the country came hours after brazil's senate impeached president rousseff after it was revealed she used accounting tricks for the budget. commit -- i never may have committed errors, but i never committed crimes." donald trump met with paul ryan. >> i want to keep the things we discussed during the two of us because they are very important.
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incidences.rsonal we talked about what it takes to unify, where our differences were, and how we can these gaps going forward. mark: trump spoke separately with mitch mcconnell. a federal judge has ruled that some of the affordable care law is not allowed under the constitution. the legal challenge was brought by house republicans, a ruling that was stayed pending a white house appeal. the new york times reports dozens of russian athletes at the sochi olympics or smart of a state-run doping program. global news 24 hours a day, powered by 2400 journalists in more than 150 news bureaus around the country. i am mark crumpton. emily: i'm emily chang and this
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is "bloomberg west." facebook responds to accusations that the social network has been suppressing conservative news stories. we will bring you the latest. apple shares slip below $90 as -- with alphabet at its heels. we will discuss the increasingly bearish road ahead. the winklevoss twins are back. this time, they are bullish on bitcoin. we catch up with them live in las vegas. first, our lead. facebook faces accusations that its human editors are more involved in choosing what you read than you might think. gizmodo sourced several anonymous contractors who accused the social network of censoring its trending topics by pushing certain stories and suppressing others like conservative stories. the chairman of the senate commerce committee sent a letter to mark zuckerberg saying "if facebook presents its trending topics section as a result of a neutral, objective algorithm but it is subjective and filters is
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a or suppress particular political viewpoints, facebook misleads the public." "the guardian" is reporting it obtained documents that shows facebook relies heavily on human input. in a statement, the company's vice president of global operations said "the trending topics are result of algorithms, not people. but there is a team of people who play an important role in making sure what appears in trending topics is high quality and useful." he went on to say the trending topics are personalized for every user. joining us for more jerry smith. bob o'donnell. and our bloomberg intruding editor david kirkpatrick. my guest host for the hour. what is your thought on all of this? david: first of all, there is much ado about nothing in terms of the supposed malfeasance around this trending new stuff.
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why people are going to keep focusing on how facebook does control what people see, because facebook's news feed is a black box. it is the primary source of information for a growing percentage of the world population. so, it is a really legitimate question to ask how do things get in there? on the actual issue of the trending stuff, what they were doing is not much different than what any news organization would do. i think his statement shows he does not understand how algorithms work. emily: the way it actually works is different then facebook wants you to think it works. jerry: facebook is saying, we have an algorithm. we also have human beings who are also involved in the process. and i think that is a good point is the fact that should win maybe think about facebook as a
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media company? there are people on twitter saying maybe facebook should have a public editor sort of like "the new york times" has. right now facebook is so powerful in terms of dictating what people see that there are human beings who are making some of the decisions in how these trending topics are being seen on facebook. so, maybe we should see facebook as a media company just like bloomberg or "the new york times." bob: i agree. i think facebook is a media company. the story is the fact that facebook has this much influence on the news that it becomes an issue. there are plenty of other people who aggregate news and use algorithms, that we are not talking about them. to me, that is really the story. the other thing is, there is no objective algorithm. david mentioned that. algorithms are sets of rules. there is nothing that's perfect. all of these things have some degree of bias.
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that is life, that is humans beings. emily: so, how about, is it a problem because just how powerful facebook is? more powerful than the media -- if you think global. >> it has been said they are the world's number one source of news. more people get their news from facebook by far than from any other single source. therefore, there is a unique set of responsibilities incumbent upon them. to some degree, they are still a little immature as a company to know how to deal with that. emily: really? david: by the way, being a new source and having editors is a new thing. "the guardian" explains that it was only in 2014 when the ice bucket challenge was trending over ferguson that they decided they had better put some people in there to keep the algorithms from getting out of control.
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emily: all algorithms are trained by humans constantly. what makes this different? jerry: this is also, i think, something the media industry itself, there's a lot of anxiety at publishers about, you know, what is facebook going to do? right now they are promoting live video. we're seeing all these media companies that are churning out live video. there are entire media companies whose business model is based on what does facebook want? so, you know, like we said, i mean, this has been how facebook's algorithm works has been a black box.
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today we got an enormous amount of detail we never had before. emily: perhaps it made sense to be more straightforward about just how much human intervention there really is. bob: again, we are going to see these algorithms improve over time. facebook is a young company when it comes to this kind of news aggregation. there are going to be a lot of efforts done to improve the process by which it is done. you cannot just focus on things that people are talking about on facebook because those are not always newsworthy, and there may be things they are not talking about. those kinds of things are going to get developed into these algorithms, and they will get better over time. emily: do we need to hear from mark zuckerberg? david: i think mark zuckerberg needs to talk more about the power his company has amassed. unfortunately, a lot of the things he will have to decide about probably from a social policy perspective would push them in a less commercial direction. when you have a commercial institution with this social power, it raises fundamentally new questions the world has never faced, and it is not just about news. politics is an equally problematic area where this question of could they swing elections is a very real one? emily: david kirkpatrick.
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nvidia shares getting a boost after forecasting sales that beat estimates. the world's biggest maker of graphics chips used in high-end gaming. this corner of the market for high-end gaming pc's is still growing. semantic issuing a forecast more positive than analysts expected. the world biggest maker of cyber security software is in the middle of a transition. looking for a replacement for mike brown and trying to recapture momentum lost or newer, more noble security startups. its latest report the country is stemming some of the decline slightly in computer, consumer and enterprise sales. coming up, we'll head to the salt conference in las vegas and hear from tyler and cameron winklevoss and why they are still bullish on bitcoin. ♪
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emily: let's head to las vegas where the salt conference is underway and erik schatzker is standing by with gemini cofounders tyler and cameron winklevoss. erik? erik: thank you very much. i am here with the winklevoss twins. for those of you string wherever, cameron is in the gray suit and tyler in the dark suit. >> it's a bitcoin spot exchange. as of last thursday, we got approval from governor cuomo -- to add another digital encryptor. erik: what does that mean, being a licensed regulated company? >> our cap requirements are
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similar to a bank. we look and feel and we have to go to the same procedures are bank does. it means we are regulator and we are safe and secure venue to buy and sell bitcoin. erik: does that mean, because people have accused of the currencies of being a store for a hideout for people who want to do things to run afoul of the law. now that you are licensed and regulated, does that mean that you will share data with law enforcement? >> so, there's going to be situations like any money service business where law enforcement might compel you for certain reasons, but we do not do anything with actual of subpoena or something with legal enforcement. erik: are there customer requirements you have to comply with? >> that is part of being
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regulated. we have a bsa state secrecy act that has been vetted by the new york department of service -- which is the highest regulator in the land of new york. know your customer, it is the principle, one of the core principles of our business. it is spelled out in our user -- erik: a number of people, bankers included, have talked about the promise of the block chain technology, but they have distanced themselves from bitcoin as a medium of exchange. can you just disentangle one from the other? >> we think the open block chain is very different than some of these bank chains. it is similar to how the internet is what we think the bitcoin -- is like, versus aol or compuserv. that is not really the open internet. it will improve the banks and how they settle and whatnot. but we're not competing for that.
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it is a very different space. erik: how so? does the things that people use the block chain to build will be different from call it bank provided services how? >> they are open. so anyone can build on it just like anyone can build on the internet. you may not be able to build on jpmorgan's block chain. there may not be transparency. there's just different -- they are private, right? so, you do not know what is going on in there. versus an open block chain, if i send you bitcoin, the whole world sees that happening. erik: why is there this idea the computers need to talk to each other using a crypto currency or transact using a crypto currency when on security exchanges around the rolled, there are all kinds of computer-driven trading
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strategies that -- around the world -- that transact in multiple currencies we use every day. >> we are seeing the future of autonomous actors and agents like self driving cars and things like that. you cannot bank a machine. a machine cannot go to wells fargo and get a bank account. but they can get a bitcoin address. those trades are not settling. when you buy your share of apple it settles in three days. a bitcoin settles when you send it. erik: instantaneously. >> the same thing with ether. when you are buying a couple coffee or hiring a self driving car, you cannot wait for three days for that car to pick you up. erik: why do you guys bitcoin bitcoin described as tokens, as call options? >> the token ether is used on a bitcoin network. if you believe these networks
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are going to grow and there is going to be a lot of demand for them, you can buy a token or effectively bet on the future valuation. >> it is like indexing the entire bitcoin, the entire ecosystem. gemini is the only exchange in the world that is actually licensed to buy both bitcoin or ether. if you want to do it in a licensed manner, then we are the place to do it. >> the internet, you could not in the early days buy a piece of the internet. you can buy a piece of bitcoin. erik: thank you for spelling it out for us. cameron and tyler winklevoss at the salt conference in las vegas. emily: i want to bring back my guest host for the hour. what do you think of the rebirth of the winklevoss twins? >> i'm glad that they are
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occupying themselves with bitcoin instead of trying to start another social network, because i do not think they proved themselves very good at that, despite the fact they were able to argue well enough to somebody in some kind of legal situation to get a gigantic settlement which basically gave them the money they are using to invest. i actually, from knowing the story of facebook's early days extremely well, find it very hard to believe that mark zuckerberg learned anything particularly actionable from them that really defines any significant aspect of what facebook finally became. so, i don't think that they are the inventors of the concept of facebook or social networking. in fact, what they were doing at harvard was really very similar to something that had actually existed at stanford two years earlier, something called club nexus, created by a guy who later went to google and started a social network.
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this is a very muddy history. and mark zuckerberg did work for them. i think he did not do a very good job for them. and they were angry about that. the fact they got hundreds of millions dollars out of it, also -- their third partner did very well. emily: do you think they have the potential to be great entrepreneurs? david: i have no idea. they are rich you who have some good ideas. they did buy bitcoin early. and they have got a good appreciation on their bitcoin based on what i can tell. give them credit. but there are a lot of people with a lot of money that want to do interesting things. emily: david kirkpatrick sticking with me. coming up, apple shares dip below $90 putting the iphone maker in danger of passing a key milestone. we will discuss next. ♪
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emily: apple dips below $90 a share, putting in danger of losing its title as the world's most valuable company. the stock has erased all gains made over the last two years. alphabet is close on its here with the market cap of $494 billion. ais latest blow coming after bad string of milestones for the company, posting its first sales decline in a decade in losing the backing of carl icahn. supply chain scares triggered the most recent declines. the nikkei saying that shipments of chips for the iphone 7 will be lower than level seen in the second half of last year. bearish reports which makes the iphones. logon precision which make the camera modules pointing to a shift in sales momentum for apple's top-selling project. still with us to discuss, our bloomberg editor david kirkpatrick.
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apple erasing all the gains from the last two years. how significant is this? david: it is something that has been coming for a long time. if you really watch apple. what we have seen is the world of computing devices, first pc's, now smartphones, hitting their peak and apple has driven the profitability. look at the percentage of revenue they make from iphones and other hardware devices to that part of the business. what we have seen them do is slowly but surely trying to shift towards other things. but there is a number of dilemmas they are facing. first of all, the services business is the one that gets the most attention. when you dive into that services number, a lot of it is what it would called digital retail. if you are selling an app, selling a movie, that is a one-time sale. services implies -- like apple music. that part of the businesses very small.
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the other challenge they face is moving into other categories. some people say apple is a follower. they will see what other people do. my argument is, i am not sure they can continue in that realm. i think they need to think about making new innovations. another thing they will also have to think about is dipping into that war chest. they have hundreds of billions of dollars there. they can make some game changing acquisitions. i think they are going to need to do that to start to drive some of this pressure off of the iphone. if they keep depending on the iphone, i think it is going to be a tough short-term period for apple. emily: apple has a $20 billion cash -- $200 billion, excuse me. david: i like this o'donnell guy. i agree with everything he says. they could get a big revenue bump that way.
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it is a weird problem to have that they had a product that got so gigantically successful it blew the entire company up and made everybody think apple was the iphone company. any product is going to plateau at some point. i do think they have a lot of potential other product areas that could grow over time. the watch could be big business. i think their car software that they licensed to other car companies could be big. maybe their own apple car, depending on what that turns out to be, could be big, an iphone is going to remain a gigantic dismissed for the perceivable future. just maybe not a growth business. emily: where is this going? a venture capitalist who has been hard on apple says he thinks that amazon will have a $3 trillion market cap in a decade. carl icahn said that apple would have a $1 trillion market cap. bob: a lot of these productions have been crazy.
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let's talk about the car. let's talk about the reality where apple is. we are entering the era where i don't think we are going to see the kind of breakout products that smart phones and pc's were for some time. we have got vr, wearables but none of them are going to get anywhere near as big as these other categories. that means you've got to have multiple bets. the car thing is interesting. i was in detroit talking to carmakers. there is this sense that the possibility for disruption in the auto business is huge. however, there is also a lack of awareness by tech companies on how hard it is to build a car. that is going to be challenged for apple to overcome in the near term. emily: bob o'donnell, thank you as always for joining us. david kirkpatrick sticks with me.
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the former tesla executive -- protera's ceo joins me to talk about his futuristic fleet next. ♪
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>> the top stories is this hour. asian stocks are set for a third weekly loss. earnings deliver little cause for cheer. 10 industry groups have dropped on the regional index with one leading currency declines. shares could be headed for their longest string of weekly losses in two years. ride-sharing app says it has received a $1 billion strategic investment from apple. it operates in more than 400 cities in china. a two-years fell to
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low overnight on new reports of slowing iphone demand. has reportedet $7.2 billion of economic damage caused by last month's earthquake. two strong quakes killed 48 people and injured 100 -- hundreds more. many people are still living in shelters. those are the headlines from bloomberg news, powered by 150nalists by more than bureaus around the world. let's get the latest from the markets as japan comes back online. to this great end trading week. it has been volatile for investment -- for investors. we are on track for a third weekly loss now. japan coming back online and holding onto those losses from the morning session, down by 1%. in shanghai market has been and out of positive and negative territory. in hong kong, things are looking
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a little bit more dire. the hang seng index down .8%. hong kong poised to enter a correction. southeast asia, quite a lot of selling coming through. philippines has been a standup -- a standout this week. selloff bit of a yesterday, but rising for the majority of the week. australia is lower. .6% lower. new zealand is pretty flat. the kospi index down .5%. the korean won has been in focus today with the bank of korea leaving interest rates on hold at 1.5%. it has pulled back a little, down .4% against the dollar at the moment. the fall in apple suppliers has won as well.g the the aussie dollar is also lower. cba calling for another two rate
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hikes by the end of the year, taking the official cash rate to 1.25%. general weakness across the board for its final trading day of the week. transportation may be on the verge of a massive transformation. from the race to self-driving cars to the mission to transport people faster than the speed of sound. another company challenging the , which is, proterra hoping to do what tesla has done for electric cars. the company announced a new battery-enhanced bus capable of traveling 194 miles on a single charge. most bus routes are less than 200 miles. president and ceo ryan popple joins us now. he happens to be a former tesla executive. with us from san francisco and still with me is david kirkpatrick. ryan, thank you for joining us.
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you just released a new catalyst. what is this bus capable of? ryan: it takes the capability of platform,ra vehicle which is a vehicle that is fast-charge capable and capable of carrying 77 passengers, and it increases the range that a vehicle can drive on a single charge significantly. what it does for our strategy is it lets us address even more north american transit routes so that we can go after our goal of implementing 100% emissions in transit. will beou think buses the first to go 100% electric. why? ryan: you can see that in behavior from large transit agencies. we have seen them past resolutions calling for 100% electric in as quick as 12 years from now. which is fairly fast, given how slow buses turnover. we have seen statewide regulation in the state of california.
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and we are seeing that cities across the world are struggling to deal with global pollution problems. all this does not create a lot of value in terms of moving a lot of value per hour, they are the least efficient vehicles on the road. that is on the policy side. from the technical side, they are the best application for electric vehicle technology that i have ever seen. a bus stops and starts 500 times during a single route. it is a low-speed urban application. you can capture that energy with a good ev system. and buses require a lot of torque. david: as a new yorker, pollution and noise are such a problem here. what you think is the likely time when people like us, living in cities like new york, will live in an environment that is transformed by electric buses. it sounds like such an appealing opportunity. ryan: once you have experienced
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an electric bus, it is hard to we imagine -- to imagine why run diesel fuel through these engines that are giving off so much noise and vibrations, they can shake buildings as they go past. i am optimistic that this is going to happen quickly. 2020, everythat by transit agency in the united states will have the ev pilot program going. that25, i would estimate 50% of new heavy bus purchases in the north american market are ev.g to be easy -- people who have stepped forward as early adopters. probably the closest would be massachusetts and philadelphia. we just announced a 25-unit deployment for philadelphia. as some other cities that are close by adapt, hopefully we will see the big apple get cleaner buses as well. emily: you worked at tesla for a long time.
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elon musk is in a sleeping bag in the office now just to make these ambitious timelines that he set forth. how confident are you that he can meet the deliveries for the model x and get the model three out on the schedule that he said he would? ryan: i have the benefit of having worked for elon musk, so i would not bet money against him in any circumstance. i think it is very inspiring, what they are already accomplishing and what they have announced it it creates an interesting dynamic for the rest of the auto industry. if you bet against tesla and you are wrong, they are going to take your market share. if you bet against them and you are right, we do not have electric vehicles and we desperately need them from an environmental perspective. i think they are going as fast as they can and as fast as any company can and there are few companies in the world that can pull it off. they are one of them. emily: what do you think of the recent departures of other executives? does tesla need to hire more people to make it happen?
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every company that is growing and developing new technology is constantly on the hunt for great executive talent. you see a fair amount of leadership turnover in silicon valley, especially as companies evolve. i would not read into it too much. i spent a couple of years at tesla and then moved on to another role in my career. i think you see a lot of people who have worked for tesla and contributed a lot, they have moved into other roles. they continue to do good things in the industry. tesla is a tough place to work i think everyone at tesla who is there now would agree with that. i do not think it signals any change about the culture or competence of the country. -- the company. emily: thank you so much for joining us. david kirkpatrick is still with me. an israeli startup is looking to turn any surface into a keyboard using what it calls a smart foam .
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elliott gotkine has this exclusive report. elliott: you have heard of smartphones. how about smart foam? this is the first product from an israeli startup. they say that tapping on mobile devices makes more sense than typing. >> when you place it on your hands, you can turn any surface into a keyboard. when you have a smart watch or pad or any other device you need to activate, right now, you have to sit down with a keyboard. says it limits what these devices can do. this is not the first time he has tried to revolutionize an industry. a company that he found it 10 years ago has not quite rid the world of charging cables. bossr blackberries
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resigned as ceo. brand says he learned from the experience. number one is go after a very large market that is going to be even bigger. it was clear that the market would come but it was not there. t i think forap, it is here and it is going to be greater and greater. devices are encouraging need for sophisticated input methods. emily: our middle east correspondent, elliott gotkine. coming up, more executive changes at a blood testing startup. who is in and who is out? what does it mean? we will discuss. ♪
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emily: oracle cofounder larry ellison has donated $200 million to the university of southern california to create a new cancer research center. the new institute will bring together a range of researchers, including physicists, mathematicians, and engineers, to tackle fundamental weston's the disease. -- fundamental questions about the disease. staying with medicine, the resolving -- the revolving door is swinging again. the embattled blood testing startup. his decision has been in the works since last year. meantime, he has added three new members to the board of directors. here with me to discuss is my guest host, david kirkpatrick. and joining me from san francisco is caroline chen.
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he is a fairly controversial figure in that he is a longtime tech executive. he worked at microsoft week when he joined theranos, he did not or medical experience and yet he took over research. he took over the lab. can you explain what his departure means? >> there has been a long-standing trend that it does not have a lot of executives or board members who have medical health expertise. it is something that the company is trying to work on. leading -- leaving opens up the question for who they will put in that role next. i have a feeling they are looking for someone with medical expertise. emily: talk about what is happening with the board. a couple of board members that they added were on the board before and then joined the advisory board. they are also adding someone from a former amgen executive
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who was head of compliance. explain the players. >> i think they are working out for themselves where they want people to be. members who were back on after they got off of the advisory board. also landed an executive from amgen, which is a big biotech. that is a good person for them to have on the board because he has operating experience. that is something the company needs right now. emily: the sec is investigating david as well as federal and state health regulators. can they overcome this? david: it is hard to say. it does turn out that one drop might not change everything. they have not really owned up to that. one of the things i find tragic about the story is that for all the criticism and questions, elizabeth holmes has not
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directly addressed them. all she did is come out and say the same things. i cannot really tell you, but it works and it is going to change the world. ultimately, that is not sufficient. it is sad to see a company which seems so promising brought so low. yet where is it today? we do not know who they need a new coo. that is for sure. what people want to see is the data and they have not provided that yet. they have not provided evelyn's -- evidence that the technology works. >> they say they are going to. emily: but it has been months. >> it has been a long time, but they have scheduled august 1. are the next steps? we know these investigations are happening. what are the next steps? >> the first thing they have to do is get their lab in california back in compliance so that cms does not shut it down.
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thingsve a long list of they need to fix. once that is done, they need to get back to publishing data. we hope that at the august 1 meeting, they will have some data for the community to see. as we have been saying, people have been waiting a long time for that. emily: thanks so much. caroline in san francisco. david kirkpatrick with me here in new york. day in tech history, 75 years ago, at the height of the second will work, a german engineer unveiled the world's first entirely-automatic computer, controlled by programs. his invention was presented at the german lab for aviation in berlin in 1941. he sold one of his machines to german aviation authorities to help them solve aerodynamic problems. has donald trump's new status as effective
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republican nominee given hillary clinton a boost in silicon valley? and do not forget this weekend. we will bring you our best interviews from our conversation with the leading figures at harvard, m.i.t., and mayor marty walsh. the best of bloomberg west this weekend on bloomberg television. ♪
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emily: we close our hour with a look at how the presidential campaign is playing out in silicon valley. are there signs that hillary clinton is getting a boost in the days after donald trump he the effective nominee for the republican party? which way will silicon valley's conservatives lean? my guest host for the hour, david kirkpatrick, is still with me. what do people in silicon valley think about this race? we know that peter thiel is officially a delegate for donald
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trump. i know that surprised a lot of people. week ago, as we watched the results coming out of indiana and ted cruz dropped out, making donald trump the presumptive nominee, we are looking to twitter and seeing mark andreessen tweet out saying that he will support hillary clinton. that was a tweet heard around the valley. a real indication that political partisanship in the valley is not as strong as it is elsewhere in the valley. here is a guy who donated to a super pac that supported mitt romney for years ago and would now between out his support for clinton. it was not that direct. it said #imwithher. that is it. david: this moving back and forth between the parties is not unusual. i think that kind of thing is -- you know, these are very rational people who think of themselves as
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engineering-oriented, very innovative space. they do not go for partisanship, generally. i do not think he is a hard-core republican. thinking rational people who pride themselves on their engineering mindset could go for trump. emily: let's talk about peter thiel. i interviewed him and tried to get him to tell me who he was supporting. take a listen to what he had to say. >> i find political philosophy interesting. there are a lot of fundamental questions that are interesting and important. if i was involved in a, i think i would have blown my brains out or something. i would go crazy after a wild. emily: did not get a straight answer, but he is on the board of facebook. mark zuckerberg has made public comments against trump's policies, especially about
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immigration. what do you make of that? signthink it is a positive for facebook that they have a board where they disagree. that is the kind of holy grail of management philosophy idea. i think zuckerberg really needs to hear disagree with him. he is so powerful at facebook. in particular, he needs to have people who do not kiss his feet for everything he does. i think he has quite a few people who are questioning him and he does not mind that. had a venture capitalist say to me yesterday that they cannot believe evil in silicon valley are not calling out peter thiel for his support. of course, everyone is entitled to their political opinions. do you think peter thiel, that his support for trump will have a ripple effect? >> there are a lot more republicans in silicon valley than people believe the republican party a year ago thought this was the cycle that they could crack into that money
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that had been generated there in the past few years. to them, it could be like an atm. we did see a lot of money come out of the valley to some of the other primary candidates. jeb bush and marco rubio did very well. how did bernie sanders stack up against hillary clinton? according to an analysis, bernie sanders is outpacing hillary clinton among tech givers. a lot of it has to do with small donations. these are probably programmers and that sort of thing. she has done well in getting some of the big names like elon musk and charles sandberg -- sheryl sandberg. those are the people who helped her tap into the movers and shakers of the valley. is increasingly important as companies are lobbying more than ever in washington. ier,e were speaking earl facebook is powerful in shaping what we see and hear. david: that is one reason why
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they do not want to be too strong for either party. they want both parties to do their bidding to a significant degree. i do think there is a lot of rationality. one thing i keep thinking about and that i have to believe is a factor for a lot of tech people is neither candidate, neither party have been talking about tech transforming the economy, which is the holy grail in silicon valley. everything is changing because knowch and you would never that anybody thought that listening to the presidential race, which has got to be disturbing to a lot of people out there. california primary is coming up and it could be influential. how are we expecting that to play out? >> it is not as exciting as it was going to be when we saw the ted cruz might be going against donald trump. may be having some influence in the republican party, the primary season. if bernie does well against hillary clinton, he still would be short on the delegate count that he needs to win the
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nomination. he says he is going to go to the convention and make his stand. what it really means is that hillary clinton will have to continue fight for the next few weeks all the way to the end. bernie giving no indication he is going to slow down. tim higgins in washington. david kirkpatrick, thank you for joining me. it is so great to see you. out who isto find having the best day ever. today's winner is charter communications. charter won regulatory approval to buy time warner cable and become the second-largest u.s. cable provider. shares of both companies were given a boost after california authorities gave it the green light. the deal will give charter new subscribers in cities like new york, los angeles, and dallas. and that does it for this edition of "bloomberg west." -- that iso not miss
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all for now from new york. ♪
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>> it is noon here in hong kong. app hasese ride sharing received $1 billion strategic investment from apple. with 11 million rides a day. alibaba has also invested in didi. nissan is showing strongly in tokyo after confirming a control over mr mitsubishi. they say they are the right partner and i hope to continue working together. they say there are risks and opportunities. another annualos

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