Skip to main content

tv   Bloomberg West  Bloomberg  July 11, 2016 6:00pm-7:01pm EDT

6:00 pm
the race today. she told reporters that she is honored and humbled. david cameron says he will offer his resignation to the queen after a final ashen of questions and house comments. fears fighting continues in syria with a massive rebel of aleppoin the city where a cease-fire is supposedly in effect. eight ybor killed and dozens wounded after rockets and shells pounded syria largest city and former capital. officials say micah johnson taunted lee says they tried to negotiate with him during an hours long and off. they are poring through 170 hours of video and statements taken from as many as 300 witnesses. johnson killed five officers. his parents said the veteran returned from afghanistan a changed man. president obama will attend an interfaith memorial service tomorrow in dallas.
6:01 pm
he's scheduled to meet with relatives of the officers who were killed and wounded. the president will host a meeting with activist and law enforcement. global news 24 hours a day powered by more than 2600 journalists around the world. i'm are crumpton. --s is bloomberg for top this is bloomberg. emily: i'm emily chang and this is "bloomberg west. is tesla facing an investigation by the sec question mark we will ask what is going on and who knew what the autopilot crash. pokemon go is sending nintendo stocks soaring. does it open a new chapter for japan's story gaming company? and facebook slapped with a lawsuit for a billion dollars in
6:02 pm
damage, new questions about how platforms should monitor can vacation. tesla shares under pressure after hours with the dow jones reporting the sec opened a probe into tesla after the company failed to disclose a crash apparently caused by the autopilot feature before elon musk and the company sold shares. a tesla spokesperson said tesla has not received any communication regarding this issue for our blog post provided relevant information about the issue. i want to turn to cory johnson -- there's a lot happening. and i was on vacation, so fill me in. three separate accidents? in threeee accidents states. the issue at heart is that tesla did not make a disclosure about the accident itself when they knew about the accident. they told reporters they knew
6:03 pm
about it shortly after a fertility in florida. after the fatality in florida, they said they knew about it shortly but did not tell investors before they sold $2 billion worth of stocks. $600 million of that was elon musk's stock. but they changed the risk actors after the accident, maybe after they knew about it but before they told us about it. listen to the brand-new risk factor -- there was a claims related to any misuse or failure of the technology we are pioneering, including autopilot could generate substantial negative publicity and would have material adverse effect on our business product and furthermore, we self-insure against risk. in other words, they have no insurance to protect them from this writ. after this the talladega before they admitted knowing about it, they added this claim, so that is a concern.
6:04 pm
emily: so a hotel in florida in two other accidents that supposedly involved these self driving features. tell us about those. run through the timeline. they had ecotality in florida. they said they knew about it shortly thereafter. on the 10th, they added that it is a risk which might lessen their culpability, but they did not admit to the fact that it had already happened. sell $1.4h, they billion. elon musk himself sells $598 million in shares personally. then in the end of june, they tell the national highway transportation safety board about it and then we find out more with another rollover blamed on the autopilot.
6:05 pm
a 77-year-old from michigan. over this last weekend, another crash -- the guy said he was driving his car and it feared off the road into a wooden fence. the car got really banged up. i saw pictures online. jones,cording to the dow there is indeed an investigation about the fact that there was no warning before the sale of stocks that this crash happened and they knew about it shortly after it happened. emily: there were no fatalities but there were injuries. cory: the one in florida was a rollover. in montana, the side of the car was sheared off by a wooden fence. i don't know what happened. led to it.ow what it is also worth noting and i don't think a lot of attention was paid to this, elon musk about thely tweeted
6:06 pm
driver killed in florida before hand because he put a video up showing how the autopilot work. his relationship with the driver, encouraging that driver rather than discouraging shooting video while you are driving is another concern as well. emily: cory johnson, i know you will continue to follow that story for us. to another story we are realityg -- augmented is coming to the masses. nintendo out with a new mobile game and the app is taking fans by storm. it has nintendo stocks soaring. bloomberg west looked at with the craze is all about. the quest of catching them all nintendo getting a boost from nostalgia. just days after its debut, it's the u.s.rossing app in
6:07 pm
app store. it has been installed on over 5% of all android devices, beating out tender and rivaling twitter user numbers on android and beating whatsapp and instagram. all with just a limited release in the u.s. and australia and new zealand. players chase mythical creatures in real world surrounding using their smart phones again uses the camera on your phone and gps technology to determine where you are standing physically in the real world and make pokemon virtually appear around you. they game was built by a google spent off capitalizing on cutting-edge mapping technology. investors could hardly contain themselves. shares of nintendo soaring in tokyo, the biggest gain since they began trading. but down from the 2017. can pokemon keep up the momentum and restore their former gaming glory?
6:08 pm
joining us to discuss is the cofounder of fusion. you are one of the foremost experts on augmented reality in this country. you have a nap that uses 3-d technology. what do you make of the games success? guest: it is really phenomenal. for everyone leaving the applications out there, it is a big piece of technology with consumers. we were walking by the ferry building in san francisco. i don't think they were texting. what is your take on this? guest: it is interesting how social this game is. i think the popularization of augmented reality is a big part of the story but there is a sense in which this game is a
6:09 pm
real world social network for right there, they show flirting happening in the course of playing the game in the real world. that is really in the way they have incorporated tapping data and a lot from google of interesting and chasing of finding of cool things and meeting people in the process. emily: i spoke about the about thisf nintendo game. listen to what he had to say. >> we are very excited about it. we think this is going to be a fun experience for the pokemon fan, the older fan and younger fan. for us, this is something we are very excited about and we look forward to driving it forward next month. emily: i also spoke with the ceo was spun out of google and develop this game with nintendo.
6:10 pm
>> they were the lead investor of the company when it was spun out and they took the learning to build a real-world game around the pokemon franchise, which is the number two franchise just behind mario. i think they sold 175 million total units of that game. it is a 20 year franchise and a really important one for them. we are bringing a fresh take on it. emily: how does the technology actually work? it is really cool. it uses your location and the camera and tries to put characters in the world and you have to find them and collect them. emily: do you have any concerns about hd issues that you are doing this or the legal issues if you wander onto private heart -- right at me? absolutely.
6:11 pm
i have heard stories about people getting into accidents and all kinds of things. but it just people getting extremely excited about it for top just like you should not text and drive, you should not collect pokemon. at a certain think point there may be some new rules us to mark a remind you throughout the game to be aware of your surroundings, but i'm not sure that's enough. owners manual also says don't take your hands off the steering wheel. i don't think you can be sure how these will get incorporated into a real world that is changing so fast. 24-year-olds like your production assistant who escorted me down was telling me that when he was seven, he played pokemon and he played this all weekend. it is perfect. for millennials, it is going back to their childhood and they are walking to it. wasy: i did have one when i playing it earlier. i don't see myself spending hours doing it but i was concerned for my own safety,
6:12 pm
running into other people. peopleyou are close to in the gaming community. what are the implications of the success we have seen here? tost: i think it is going drive everything we are seeing in terms of ar. you can imagine everyone building the next generation of , so this is insane validation for everyone working in this field. emily: what about other industries beyond gaming? guest: that's an interesting question. i think it is most interesting for social networking. and as we just heard earlier, it is crazy how popular this thing got so fast. for thecial networking real world with virtual objects. emily: you wonder if nintendo
6:13 pm
new how popular this was going to be. for someone who has covered technology for a decade, what do you think this could mean for nintendo knowing the gaming business is such a hit driven business and you need to maintain momentum? guest: i love the speculation about how they might make money by getting partners -- having the game direct people into coffee shop or retail stores, that is pretty smart. i think it's impact will be bigger on the perception of augmented reality and finally people understanding what that slight lead we be -- slightly term may be.ng for experts like him, it is a dream come true. the ceo and cofounder of using and david kirkpatrick, you are sticking with me. coming up, facebook slapped with
6:14 pm
a lawsuit seeking a billion dollars in damages, raising new weston's about how platforms should monitor how users are communicating. we will break it down. ♪
6:15 pm
6:16 pm
emily: facebook is facing a $1 billion loss. plaintiff says people affiliated with hamas facebook to communicate during attack that killed four americans in israel. this is after graphic live stream video when viral across the platform in the wake of fatal shootings in the u.s. last week. -- my guess
6:17 pm
previously spent years at google focusing on policy issues. and still joining me is david kirkpatrick. do you think this is a strong lawsuit? guest: i don't think it is a strong lawsuit. it's similar to other losses that have been filed and defeated under one of the key american internet -- the communications decency act. this: why do you think particular lawsuit is weak or unfair? what should facebook be for as far as monitoring and policing content? guest: the idea was that congress wanted technology companies to be able to develop usersome plant forms for beach and free expression and to become the economic juggernaut silicon valley has been. order to serve those goals,
6:18 pm
it created a law that they plan form is not legally responsible for the speech its users if facebook were responsible for the legality of everything we say on facebook, it would be tremendously expensive and a and give themtive every reason to take down perfectly legal speech in order to avoid risk to themselves. this framework where they are not responsible for what users say on their form is pretty important to the way we use the internet or communication today as was illustrated this past week with the police shooting video. it is very much having a form where anyone can go imposed content without a gate keeper. should facebook be responsible for terrorists communicating on facebook?
6:19 pm
if not, whose job is it to police these platforms? david: i think what daphne said was articulate and ella went and that sort of thing needs to be said more often. can or think facebook should be fully responsible for everything set on its plan warm. on the other hand, facebook does abide by the laws in the jurisdiction where it operates. when governments have reasonable cause to ask for something to be taken down or for facebook to insist in an investigation, it does do so when presented with the legal requirements to do that. the problem is a lot of areas where these incidents are occurring is in a legal gray zone. they are in the occupied territories where facebook abiding by international law accepts the general view that those are illegally occupied areas. israel considers it part of israel and demands that facebook gives them information about ink that happened in those regions.
6:20 pm
that's part of the problem and one of the things that led the israeli minister of security to call zuckerberg a monster and has blood on his hands. a political disagreement that is a conflict between a company and a local law. facebook is not responsible for monitoring these conversations unless they get a request from on enforcement, who is responsible? daphne: this is a question for public determination. we are talking about speech that is of the utmost public importance, each related to a police shooting in the u.s., speech related to political violence. it is complicated and difficult for any country to come up with what the right laws are to balance free expression rights
6:21 pm
with preventing violence in reaching that should be a public process. there should be accountable public bodies deciding on it. outsourcingt be those very difficult determinations to private forms if we can avoid it because the consequences are great. muchan imagine with too pressure on facebook to take down anything that looks violent or antiauthority, the police shooting videos would never be up there. asking them to take responsibility for everything that goes up and find nuance, who is speaking and what are the legal consequences in the country where they are, that is too much to ask of a plat or men take this conversation about politics, speech and violence out of the hands of courts and out of the hands of lawmakers. isis: interestingly, traffic is falling 40% on twitter.
6:22 pm
has been focused on working closely with the government on this particular issue and on the subject of twitter, twitter announced today deal with cbs to stream the republican and democratic national conventions. it is interesting at a time when facebook has so much omentum or perhaps unfortunate reasons. what do you make of this announcement coming from twitter and need of urgent and their strategy when it comes to live video? that it was't agree unfortunate that facebook streams that live video, however unfortunate it might have then. i think twitter is more of a national media forms of make sense that twitter is moving anressively toward becoming infinitely tunable television network and i think they have good cause to get that kind of
6:23 pm
important public content a lot of people are going to watch. facebook is moving in that direction a little bit by paying content companies to produce content for facebook which is a major shift in their strategy, but i think those of these systems, facebook and twitter, are increasingly are windows to the world and the place where people expect to consume content along with other places. content isre migrating. thank you both. david, you are sticking with me. we will be back with more. be the reason for expansion in london? ♪
6:24 pm
6:25 pm
6:26 pm
emily: we work has scrapped plans for expansion in london's very worth. to a noten addition to leasing the 45,000 square foot space, we are looking to lease a building it to be -- is the first time you have canceled a deal in the u k capital. it's one of the biggest ipos of the year -- it raised $1.3 million after pricing its ipo at the top of the range. ♪
6:27 pm
. . get ready for the rio olympic games
6:28 pm
by switching to xfinity x1. show me gymnastics. x1 lets you search by sport, watch nbc's highlights and catch every live event on your tv with nbc sports live extra. i'm getting ready. are you? x1 will change the way you experience
6:29 pm
nbcuniversal's coverage of the rio olympic games. call or go online today to switch to x1. mark: you are watching "bloomberg west." let's begin with a check of your first word news. secretary of state john kerry is heading to russia this week. the visit comes at a particularly sensitive time in u.s.-russian relations.
6:30 pm
in addition to deep differences over syria and ukraine, it follows the latest expulsions last week of diplomats from both nations after an incident outside the american embassy in moscow. in central and southern china, weeks of torrential rain have cost the country 's worst flooding in almost two decades. at least 173 people have been killed. officials say the problem was compounded after a typhoon hit over the weekend. the u.s. is sending 600 additional troops to iraq. defense secretary ash carter made the announcement during a surprise visit to the country today. secretary carter says the new forces will be used to help iraq retake mosul, which is controlled by islamic state. the washington post selects -- reports donald trump will select a running mate by the end of the week. other still in the running include former house speaker newt gingrich and governors mike pence, chris christie, and mary fallin. on the democratic side, from on
6:31 pm
senator bernie sanders -- vermont senator bernie sanders rally with hillary clinton in new hampshire sh. i am mark crumpton. this is bloomberg. it is just after 6:30 p.m. london in new york. my colleague paul allen has a look at the markets. paul: off to a good start in new zealand. off following record highs on the s&p. futures indicate good gains in australia, of about 0.5%, expecting business confidence figures out later for june, although the timing of the survey means it will not reflect the recent reelection of the australian government. in japan, the nikkei fixtures -- futures look mixed right now. the most since october 2014,
6:32 pm
with the bank of japan promising more stimulus. the real big difference a shinzo abe's win in the upper house elections, meaning more stimulus coming from the government as well, promising to prop up domestic demand and speed up the building of high-speed trains. finally, a big decision out of the head today -- hague today on a case withina sea, china and the philippines on when an island is really an island. there's trillions of dollars of oil and gas there, and we make it a little clarity. from bloomberg tv in sydney australia, paul allen. ♪ emily: this is "bloomberg west." japanese messaging app line raised 1.3 billion dollars after
6:33 pm
pricing their ipo at the top of the targeted range. at that price, the company is valued at $6.9 billion and will be the biggest tech ipo this year. what are investors looking for with line? are reporters with us, as well as contribute in editor david kirkpatrick in new york, and from tokyo our news editor. what are the top things investors you have been speaking to want to see when it comes to line? >> they want to see more than just what is happening this week. what happens after the ipo? we have seen them, you know, stickers. line's platform was really popular two years ago, and now a of other messaging services have caught up, and they need expand out of their home markets in japan, taiwan, and indonesia. looking at the penetration there , users in those areas who use messaging apps, 80% to 90% use line. in the u.s., only 12%. so what is next?
6:34 pm
that the big thing that investors here in the u.s., where two thirds of the shares will be listed, will pay go byion to, so that will the way of what happened with twitter today, with questions of growth and a big selloff in the stock. emily: line is popular in some interesting and unexpected countries. saudi arabia, for example. they are looking to expand heavily in the middle east, in emerging asian countries, indonesia, taiwan, thailand. give us the local perspective on line. who is using this app, and why? it has a very different business model from the model that has been at whatsapp and facebook messenger, in that stickers are very important, there is gaming, streaming media, and a lot of other things. >> well, you said an interesting thing, business model. to some extent, line is the only one that actually has a business model. whatsapp, etc., they have massive, massive numbers of users, but for all intents and
6:35 pm
purposes they don't really make a lot of money off of them. the interesting thing about line is that it has figured out how to make money from users, but on top of that, it has also figured out how to tailor its product to specifically target certain markets. for example, in indonesia, the executives at line realized alumni networks are really big down there, so what they did was they built into the app features that would let people find each other more easily through alumni networks, obviously bringing in a lot of other products that kind of lock into that. so really, what we are talking about is, the hope of investors that line, with a proven model for making money off of messaging, can bring some of that magic to the u.s. obviously, competition is much more fierce there, but it is a bigger price, and to some extent this ipo is a way to raise awareness, but also bring in bunds, so they can try and na
6:36 pm
some of the world's biggest market. emily: the company has said they are looking to expand in places where perhaps facebook, t, arepp, messenger, wecha not as pervasive. david, what do you make of how line sets itself apart from facebook, from tencent? because facebook and tencent have argued leaving copying some things line has done, and line's growth has slowed down. david: i would not bank on any business based on where facebook isn't, because that is hardly anywhere, but it is true that line is more of a content distribution network that uses messaging as the lure to get customers involved. it's fundamentally different. my concern would be the long-term durability. as alex was saying, i think it's a very trend-driven business, and of a faddish thing,
6:37 pm
primary users in japan were very young. now in japan everyone uses it, which is a good sign for them potentially in other countries, except japan is so different culturally from any other country, and i don't know whether we can take that to the bank. communications on the internet changes very rapidly. i personally would be cautious about investing in this company. emily: so, alex, the stock is priced. when to expect line to start trading? alex: it will start trading in the u.s. on thursday, and in tokyo on friday. we will obviously be paying attention, because going into this offering, they raised the range because they said demand was so high and market conditions were more right. at the time, that was when all the u.k. brexit volatility was happening, and this is a business that doesn't really sell into the u.k., so that might have played into it a little. so it will list on thursday. again, the people i'm talking to on the street say it's not
6:38 pm
necessarily going to be about what it does on first trading day, what it does in the next few weeks, but about whether the company can continue to execute, quarter after quarter, in front of, you know, what seems to be a very fickle u.s. tech investor base. emily: alex, our ipo reporter, i know you will keep us updated on this. york,kirkpatrick in new and read stephenson of bloomberg news, joining us live from tokyo. thank you all for weighing in. coming up, the peak the market is on course to shrink for the fifth straight year. can the market be revived? we will discuss. this is bloomberg. ♪
6:39 pm
6:40 pm
emily: the pc market is still on life support, on course to
6:41 pm
shrink for the fifth straight year. though according to new research data, it still beat analyst productions by 3%, bolstered by demand in the u.s. manufacturers have been struggling to regain footing as consumers flock to smart phones and other mobile devices. so can the pc market mount a comeback? joining us now, idc's chief research officer, who joins us from framingham, massachusetts. great to have you on the show. the market beat your own forecast at idc. what do you make of the numbers? crawford: the market did beat. we saw stronger numbers, particularly in the united states. the market was higher, by roughly three percentage points, so we were looking at a 7.4% decline, in the market declined 4.5%. really what fueled that in the united states is a couple things. we think inventories had been
6:42 pm
taken down for a series of quarters, and those are getting to more normal levels, and we see stronger sellthrough. we saw better availability of key components, think like solid-state drives, which got some skews more available. and we saw chromebooks, a real spike in chromebooks, which represented a nice pop of 2x where we thought they would be, and that is really tied to education, where google has made great progress with that platform into some new use cases. emily: so we are heading into, back into school season, heading into the holiday season for the rest of the year. what does the market halt? crawford: this is where things really get interesting, emily, because what's going to happen is that we are going to see microsoft's promotion of a free upgrade to windows 10 expire. so, you have got hundreds of
6:43 pm
millions of light ups, if you will, people now upgraded to windows 10. again, also people who bought new windows 10 pc's, that now the way to get windows 10 is to either open up your wallet and pay for it or buy a new pc, so our expectation is you will see declines in the pc market started to shrink. that will go from where we were forecasting, sorry, what we have declines,g, -3%, -4% and our expectation is as we get closer and closer to, into next year and the end of this year, you will see those declines started drop, the coming low single-digit, very low single-digit, if not flat declines. we believe is a bottom for the market. emily: so what companies will suffer the most? companiesso, the, the that have been really struggling in this pc downturn, obviously,
6:44 pm
top of the list has been intel. intel had a significant amount of their fortune, and they have been diversifying into data centers, but intel will continue to see not the demand they would like to see out of the pc market. you will also, and he was seeing it, today we sat another announcement, companies like seagate, to make hard disk drives. western digital. as,e companies, as well this has been a tough market for companies like samsung, who get hit on the memory side, get hit on solid-state drive, and get hit on the display side. those, gives you a flavor for some of the companies that have really been feeling the pain here. emily: and quickly, you said it will bottom out. do you see a bottom, and then no more decline after that? crawford: no more is a long time. but we were looking for the pc market to start to grow again in 2018, and we now see scenarios
6:45 pm
where we could see though -- that a little earlier, perhaps in mid-or late 2017. emily: crawford del prete, as always, thanks so much for joining us. we are heading out of this world, where astronomers have exnd a new exit planet -- oplanet with three suns, 320 light years away from earth. a person standing on this planet would witness triple sunsets every day during certain seasons, and for half of the orbit would live in constant daylight. unfortunately, you will not be witnessing these anytime soon, as temperatures on the planet can reach 580 degrees celsius and it rains liquid iron. , earlier i spoke with an assistant professor at the university of arizona and co-author of a paper on the discovery of this planet. i asked him about the significance of this discovery in the broader history of the universe. >> we were very excited about this planet. it's the first one with a multiple system, meaning
6:46 pm
multiple stars around it, in such a way that the planet is not very close to one of the stars. we have seen very few planets until now, and this one is in a very exceptional orbit. emily: at one point, they thought this kind of system was impossible, correct? is it more common now than we think? >> there are many stars in the universe, and we expected them to have planets like this. in our small survey, the first planet we found was around a triple star. so this might be more common than we thought. emily: tell us more about the planet. it rains liquid iron. it has a 550 year orbit. there are three sunsets during particular seasons. tell us what makes this planet unique. >> this is a fascinating planet. it has a mass a few times larger than jupiter's mass, and it's a very young planet, only 16 billion years old, which is astronomically speaking very young.
6:47 pm
this is one of the very few planets, less than 1000, we have been able to directly reach, which allows us to study the planet and its atmosphere to a much greater extent than we can the other planets, which we have not been able to image, but deduce their presence through indirect methods, many we have not seen them. emily: when would it be possible to get images of this particular planet? >> we use a very powerful telescope in chile, the very large telescope, which has an 87 foot diameter mirror, a very large mirror which can make very sharp images. to make the images even sharper, it uses a new instrument called sphere. with this, we can make so sharp subtractat it would out the star to reveal the really faint planet around it. that is technologically a very difficult measurement to make.
6:48 pm
emily: you mentioned the planet is very young, perhaps just 16 million years old. how do you determine the age of a planet, so far away? selectedudy was because it belongs to a group of stars we have been able to study over the past 30 years. we determined, the group of determining -- comparing them to models of stellar evolution. emily: because you have discovered this planet, how will it change the future of space exploration? what else will scientists now be looking for? >> several immediate directions we will take. one we will go back and we will look at many more triple systems. these systems have traditionally been excluded from certain, because people assumed we would not be able to find anything. now this has changed. in addition, we also will try to figure out how this planet ended up where it is. very close to a place where it would not be stable, if you
6:49 pm
pushed it a bit further out, so we will figure out whether it formed there wo or whether there are other areas closer in that ejected this planet to the orbit. emily: fascinating. professor, thank you so much. really appreciate you sharing this with us, and congratulations again. >> thank you. emily: professor danielapai, of the university -- daniel apai, of the university of arizona. tomorrow on earth, its amazon prime day. more than 100,000 deals are said to be just a click away. last year, the much-hyped super sale got lackluster reviews, and e-commerce giant is doubling down and says this will be the biggest global amazon event ever. they never released numbers from prime day last year. shoppingay only global event is exclusively for prime members. coming up, the future to curing cancer could be cell therapy, so why is the fda holding back? and, tomorrow on bloomberg television, a chief market
6:50 pm
strategist for jeffries on bloomberg . this is bloomberg. ♪
6:51 pm
6:52 pm
emily: welcome back to "bloomberg west." i am emily chang. at a campaign rally today, merkel called humans the most dangerous drivers and urged germans do not be deterred from self driving cars. as a result, shares of mobile e ye jumped 7% after the german chancellor spoke. she said that her country's automakers are behind the curve. the treatment where cells are removed from the body and engineered to hunt cancers like leukemia, offers a potential cure for the blood cancer that resists all other treatments. however, the treatments are commentated and expensive -- comic it and expensive and risky. could sell therapy be the future to treating cancer, or is it too
6:53 pm
good to be true? joining us our columnist, who covers all things biotech. is it too good to be true? max: these are incredible treatments. in a few trials they have been able to do, it is tough to say curing cancer, but they send people into remission for several years. on the downside, they can be waserous, and that thrown into sharp relief last week when one of the treatments exit cost the death of third -- actually caused the death of three patients due to swelling in the brain. although these treatments are incredible, there's a lot of work still to be done. emily: so what are the implications? certainly based on those deaths, and the other difficulties some experienced with this particular treatment, what are the locations of that? max: it emphasizes the fact that, as incredible as these treatments are, there are risks, not only the neurotoxicity we saw today, but the fact they destroy cancer so
6:54 pm
fast, they can promote a body-wide inflammatory response from the leftovers of the cancer cells that they have torn through, so they can be almost too effective. it shows that even though we see incredible results, calling it a "cure" for all cancers is a little bit early. emily: talk to us, than, about the commercial future of these treatments. max: that's another of the really interesting things about these treatments. right now, as they are currently made, they are a bespoke treatment, made individually for each patient. they take the patient's cells and inject them with a virus that teaches the cells to recognize cancer, and then they thrown -- grow millions of these and inject them back in. but doing this on a per patient basis is incredibly expensive, so when these have the market, they will be incredibly expensive. young about side effects, have a treatment doctors will only want to prescribe as a last ditch, last chance treatment.
6:55 pm
the fact that they work in the sickest of patients is incredible, but that's a potential worry, the expense. emily: and what will the impact be? there's a much broader debate about drug pricing. what will the impact be on that debate? max: it will bring it to the forefront once again. right now, you have the campaign bringing pricing issues to the forefront, and this might end up being the next flashpoint. because no one really knows how to price this. ure, but itme c doesn't work for every patient. sometimes you have relapses. more like ano cost orphan drugs in your traditional cancer treatment. it is an unprecedented treatment, unprecedented price, so i think it will be an area of contention. on the other hand, these are exactly the kinds of things you want companies to focus on. you wanted to focus on cures, on advanced an interesting science.
6:56 pm
it will provoke some controversy, i think. thank you soesen, much for joining us. time to find out who is having the best day ever, and we have to bring it back to pokemon go. pokemon fans have been having an amazing day, apparently. nintendo is that with a new mobile game, pokemon go, which is catching the world by storm. fans have been posting online about their experiences, and groups have been flocking to central park, looking for characters to catch. there was even a man who found a theet next to his wife in delivery room. excuse me, i think that is a pokemon room. [laughter] that does it for this edition of "bloomberg west." we will see you tomorrow. ♪
6:57 pm
6:58 pm
6:59 pm
7:00 pm
campaigny clinton's hope the fbi's decision not to recommend prosecutions would have closed the book on her use of a private e-mail server. new chapteropened a instead. the state department has reopened its investigation and a new round of congressional hearings began thursday. day and has more in joins us from the washington post where he is the paper's chief correspondent.

9 Views

info Stream Only

Uploaded by TV Archive on