Skip to main content

tv   Bloomberg West  Bloomberg  August 29, 2016 6:00pm-7:01pm EDT

6:00 pm
journey to defend myself from impeachment, i got closer to the people. i had the opportunity to listen to the recognition, their love. i also heard the schism towards my government, for the mistakes made and measures and policies not applied. marks: president roosevelt is accused of illegally -- to heidi deficit trait a vote could come as early as tomorrow. secretary of state john kerry says the u.s. and bangladesh will work mostly together to fight extremist straight at a said itnference, kerry is clear islamic state is gaining in southeast asia even as it weakens in syria and iraq. the united states today met president obama's goal of admitting 10,000 syrian refugees into the country. able tonistration was hit the goal in month early and just weeks before the president convenes a summit on refugees during the 71st session of the u.n. general assembly.
6:01 pm
the pentagon is ordering an independent real of the $13 billion aircraft carrier, citing the ship's reliance on new and improving technologies, the carrier scheduled to be delivered to the navy in three months. in new york, i'm mark crumpton. "bloomberg west" is next. ♪ emily: i'm emily chang and this is "bloomberg west." coming up, a sweetheart deal turning sour. taxe's tax arrangements -- arrangement in ireland as the eu prepares to handle the biggest tax penalty ever. who hacked the election? the fbi investigates hacks at a two state election boards. we will break the latest developments down.
6:02 pm
and it's go time for commercial drone straight we will discuss the latest regulation as american businesses take to the skies. but first, to our lead. see you on the seventh, apple officially acknowledges its highly anticipated event next week. every speck of the invitation is under scrutiny for possible hints of which product upgrade may be revealed. next you run her ration iphones at apple watches also on our radar. another story looming large over the most valuable public company in the world, european regulators could announce as early as tuesday that apple is on the hook for up to $19 billion in taxes, europe's largest penalty ever. this would culminate a three-year investigation into whether ireland gave apple a sweetheart deal in return for creating jobs there. joining me to discuss, a senior analyst,research university of florida professor, an expert in international tax laws, and r bloomberg reporter
6:03 pm
who covers apple with me in the studio. $19 billion, i believe that's what a j.p. morgan analyst came up with. vastly different. what are we likely to see here? >> this $19 billion figure has been around for a couple months. revisesh times likely the figure up a bit. we think it will be in the handful of billions, possibly. stage, we have to see what the action number is when we wake up tomorrow on the west coast. emily: how are you modeling this out? what is likely scenario? isthe worse case and area $19 billion, if that happens, it is about 12% of the available cash for apple. butnumber is a huge number, something investors don't give apple much credit for their cash anyway. in some respects, it's a great thing to watch but really doesn't impact the valuation on the story. that's how we would think about
6:04 pm
it, we are playing for the worst-case and thinking it is a 12% hit to their cash. emily: you are saying that worst-case scenario is unlikely. why? >> a big issue is if the europeans play hardball too much , it's going to deter apple and other companies from reporting .ny taxable income in europe one analogy would be in iowa corn farmer who follows his corn to mexico, if the mexicans try and tax the iowa corn farmer, what's the justification for that. there's an analogy here, why are the europeans taxing the income of an american corporation? that note, the u.s. government has stepped up its rhetoric in defense of apple. about ireland being a super national tax authority,
6:05 pm
maybe indicating they are overstepping their bounds. whether u.s. companies have had tax havens in europe has been going on for a long time, and defrauding the u.s. government of billions of dollars. the u.s.ot as though government doesn't want apple to pay tax. he wants it to pay its tax here in the u.s. is why it is hard falling in the american sense against the european authorities and against ireland, because it wants that money to go into u.s. coffers. what exactly is your read on this particular situation of how serious it can be for apple? and not just apple, but other u.s. tech companies. >> from a valuation perspective on the scale of 1 to 10, 10 being really bad, it's probably a 2 or 3. this is something that will impact some of their cash. we are talking about getting cash back to the u.s. that's the and goal ultimately
6:06 pm
for apple, and there needs to be some sort of tag for it. in terms of 3 severity. ultimately they will have some small fine and hopefully in the next presidential cycle we will have some tax holiday where applicants will bring it act may be at 20%, -- back maybe a 20%, something more reasonable. emily: the european commission has for some companies to the government of belgium, the government of the netherlands. what sort of cascading issues could you see after we get this decision from the european commission? that any taxes paid in europe are a credit against u.s. taxes. there is commented about defrauding the u.s. government. i think that's too strong. this is tax deferral. any taxes paid in europe would be a credit against future u.s. taxes, and that's one reason the
6:07 pm
u.s. government isn't in favor of apple paying more taxes in europe because eventually it's going to result in less taxes paid in the united states. emily: "the financial times" reporting that margaret fester -- margaret fester has handed out a 130 page judgment to the organization, calling this illegal. she has taken a very strong anti-competition stance, and a lot of u.s. executives, including the chairman of alphabet, has explained that europe is getting more and more difficult to work with. how do you see this progressing? -- it is agenerally difficult situation generally because of brexit traded there's an element of trying to ensure control of retains any number of different areas of policy. tax is one of them. trying to ensure that it doesn't
6:08 pm
disintegrate in a regulatory .ense centralizing power and stepping authority for each commissioner there is certainly an element of like stamping her authority on the remit. emily: could use a broader international tax reform as a result of this? >> it's possible. one analogy here is this is an intra-european issue, just as for instance illinois offered tax incentives to get going to toocate there had -- boeing relocate their headquarters to illinois. partly the european union is complaining that ireland is asking apple and other companies to pay a lower tax rate than germany or france. so, partly that's what this is all about. emily: any chance apple would actually ever leave ireland? , i think what's going to
6:09 pm
happen here is there's going to be some tweak in terms of how they charge u.s. companies. they will probably still do some things through ireland and a year from now will have a higher tax rate and move forward. >> the one thing it points out from a broader european level is the difficulty you have in the european union, there are so many different fiscal regimes across the region, and that points to one of the big problems with the whole organization, it makes it hard to have any sense of consistency. emily: alex webb covers apple. thank you. gene munster, piper jaffray great you are sticking with me. j ritter, university of florida, professor of finance. thank you as well. coming up, what hits are hidden in apple's filing? we will break down everything we know so far. for takeoff.
6:10 pm
the new regulation that could get commercial drones in the air faster. details later in the show. ♪
6:11 pm
6:12 pm
apples september 7 product event is now confirmed. the company sent out these digital save the dates and as usual, it set the internet ablaze with speculation. the out of focus colored lights in the background and the use of the word see in the text led many to believe that we will hear about camera updates. us, our bloomberg news reporter market herman. a handful of scoops about what to expect in the leading up to this. the out of focus lights, depth
6:13 pm
of field camera technology, iphone seven on september 7. any hints there? >> i agree with you. those out of focus bubbles are pretty indicative of camera talk. i think there's a couple other things going on there. there's two of the dots or whatever you want to call them that are really more in focus than the rest, they are right next to each other. it sort of looks like the dual camera set up we were talking about on the larger of the two models, and the round buttons are indicative of the shape of the home button. when apple announced the touch the invitation3, looked pretty similar and people realized after, though circles are in reference to that home button. we are here and that the home button on this year's model will be pressure sensitive. maybe it's indicating that as well. emily: you have taken a much closer look at this than anybody else i've heard from. as you reported, we are expecting dual camera processing on the new iphone. basically two cameras that merge two photos into one photo.
6:14 pm
tell us what to expect. i know you've basically reported out the entire event. but as of now, where does it stand? >> to recap, we are hearing there will be a lot of ios and watch os talks. they will be introducing the new iphone. maybe they will call for 7. maybe they will call it the se. design will look fairly similar to the iphone 6s and iphone 6. it will have a pressure sensitive home button, which will vibrate in reaction to how hard you press on it. there will be the new camera system, which has far better zoom and a much faster processor which works hand-in-hand with the new camera. there will also be a new apple watch. health tracking features as well as gps for more accurate running. sure you have been paying attention to some of mark's stories. you also get your own sources. does this ring true to what you are expecting, you iphones, new
6:15 pm
apple watches, not huge design changes, but new features that mark just mentioned? >> market covered it all. all.rk covered it the headphone jack getting removed -- i don't think that will cause anybody to buy an iphone. it's one of those second or third level updates. at the end of the day, there is some important things you can do with just a better camera. it can be anything from just how you take pictures and videos to this idea of a device for augmented reality, which the whole pokemon theme is playing into. the groundwork for something a little bit more than might be at first blush. emily: how are you modeling out a potential boost in sales here? obviously no major design changes. some people might not like the fact that there's no headphone jack. how many new iphones are they actually going to sell as a result of these updates in the fourth order? -- quarter? a fourhink of this as
6:16 pm
quarter update. in total we think they will sell 235 million phones over the next year. to put that into perspective, this will be the biggest cycle, the biggest wave of people with old phones coming into a cycle. we estimate there's 275 million people who have phones that are two years old or older. a very ways, this is not exciting iphone upgrade. that pool of really old phones should power that through. what that means for the numbers, we go from down about 10% to 15% year-over-year to up about 10% to 15%. you should see a dramatic swing back in terms of that very tough iphone 6s cycle. emily: we talked about how they are working towards building out their software and services, but you still reported some new hardware enhancements coming to the ipad. tell us about that. >> these aren't likely to be shown at this event on september 7, but apples working i bunch of
6:17 pm
new mac related products and new ipad features. starting with the mac, they are working on the significant mac pro update we reported on earlier this month with a thin digital screen with the buttons on the keyboard the change based in what you are doing. that will be a big update for the high-tech crowd. we're also hearing faster macbo ok airs. also, apple is collaborating with lg electronics out of south korea on a new monitor. sevenonitor would be 5k, times the resolution in the same amount of space as your typical 109880p television. so, those are going to be big updates on the mac side. emily: what does this mean for the bottom line? ipad sales have not been growing the way they were. beenok sales have healthier than many expected. what do you see? >> i think just don't overthink
6:18 pm
it. the bottom line is going to improve nicely. we talk about a 15% revenue boost from next to next year, and earnings should outpace that slightly. at the end of the day, this is still all about the iphone and these other products are collectively 35% of the business. it's about the iphone, the iphone should have a good cycle, and if we were wrong and we blow it on this one, we should catch up and have an even better cycle in 2017 with the anniversary edition. emily: any possible surprises? what could that one more thing be? i think you've done a great job reporting on all the features on this. i think it's going to be difficult to be surprised. maybe one other thing may be on the content side, some new partnership there, but that's a stretch. emily: mark, anything we don't know? mark: i don't want to speculate on anything we haven't reported. when we do report something, you will be the first to know. news appleoomberg
6:19 pm
reporter and gene munster of piper jaffray, thank you very much. the fbi says hackers have infiltrated the election boards of at least 2 states, as officials warned that foreign hackers might try to meddle with u.s. elections this november. what we know, next. plus, hospitals are now prescribing patient's a healthy dose of virtual reality. why vr is becoming the more affordable option for doctors. ♪
6:20 pm
6:21 pm
6:22 pm
emily: on today's funding board, a digital payments and e-commerce startup is raising $300 million at a valuation of $5 billion, more than double its pre-money price tag. the latest round will be led by taiwan's mediatech. existing investors include alibaba. it's a bright spot for venture investments in india, which slowed this year after hitting an $8.9 billion record in 2015. the fbi is investigating hack attacks on police two state election boards, one of which we know resulted in data being stolen. the more recent of the two hacks happened this month. our national security reporter
6:23 pm
is standing by in washington with the details. what do we know? what was stolen? iswhat we know right now that two state election boards had intrusion. last month in july, one of the states websites. data was stolen. this month we know that a system for one of the election boards was breached. we don't know which states these were. the fbi has not come out and said publicly what they are. we don't know exactly what kind of data was taken. this is what we know so far. this kind of data is pretty comprised. it has put her registration information, some of which is public. cyber criminals like to take this and put it up for sale on the dark web. so far the fbi has put out a list of ip addresses linked to
6:24 pm
these intrusions. they are trying to figure out who actually conducted these intrusions. the fbi is asking states to check with their election boards to see if they have had similar .ypes of activity in their logs emily: is this something a low level hacker could have done? now analysts are going through the code. it doesn't necessarily seem like it is something super sophisticated. i was talking to one analyst today and was saying this is so widespread, countries across the world face this kind of threat in terms of criminal, cyber criminals trying to hack into elections and voter registration information because there's a lot of personal information that could be valuable for people out there who want to compromise peoples security. so we don't know exactly just
6:25 pm
yet, but we're trying to figure out and that is what they are trying to link also, those ip addresses, seeing if it looks like something we have seen earlier in other kinds of talks. emily: we have been reporting the hack on the democratic national convention, and potential links to russia. it is pretty clear that russia has been involved in some way. is there any indication that russia or a state actor could be behind this? u.s. have heard officially's and diverse security firms mentioned that for a nation states may try to either meddle in u.s. elections or try to hack into voting .ystems, especially russia as of now, we don't know exactly if this particular intrusion on the state election boards are russia. russia has denied being involved in the dnc hack. we have seen this state of incidents recently just in this
6:26 pm
year. it's been a longtime concern, whether elections can be hacked. we have written about that before. it's different this time that we are seeing -- we are a lot going on. -- peopleat's kind of are asking what's the motivation. earlier we said dnc was linked to russia. bloomberg news national security reporter in washington. thank you for keeping us updated. coming up, commercial drones are taking to the skies at work speed. we will give you all the details . if you like bloomberg news, check us out on the radio. listen on the bloomberg radio app,, and in the u.s. on serious xm. -- sirius xm. ♪
6:27 pm
6:28 pm
6:29 pm
mark: must begin with a check of your first word news. one of hillary clinton's closest says she is separating
6:30 pm
from her scandal plagued husband, former new york congressman anthony weiner. he resigned from congress in 2011 after he was caught texting intimate pictures of himself to women. arisen.e photos have the fbi's investigating hacking attacks on a least 2 state election boards, one of which resulted in data being stolen. that's according to an alert from the agency's cyber division. u.s. officials raised the possibility foreign hackers might try to hack into voting systems. taking center stage in the presidential nomination of france's republican party, islamic each wear. nicolas sarkozy says he change the constitution to allow nationwide prohibition of the burkini. last week a top court struck down a local ban on the body covering garments. gene wilder, the star of "willie walker and the chocolate factory" and mel brooks comedies, has died. he was suffering from alzheimer's disease.
6:31 pm
june wilder was 83 years old. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i am mark crumpton. this is bloomberg. is 8:30 tuesday morning in sydney. my colleague paul allen has a look at the markets. good morning. paul: good morning, mark. some strong gains in the u.s.. after a strong start on tuesday morning. futures indicate a bright start locally on the asx in australia and the nikkei in japan. a lot of data out of japan today, the unemployment rate for july will be up. it's expected to remain steady at 3.1% rate good jobs numbers means possible wage pressure and improved hopes that the bank of japan might reach its 2% inflation target, also expecting household spending and retail sales out of japan as well.
6:32 pm
it will be worth watching mitsubishi motors at the open, the trouble there seems to keep on brewing. shares already off 50% year to date, and there's reports from local media today that further 8 models of cars don't meet ministry of transport fuel efficiency levels. that was stated by mitsubishi motors. the company may consider compensating owners, the difference between their advertised levels and the ministry of transport years -- figures too wide. samsonite international, bank of china and icbc among them. i'm paul allen. ♪ emily: thousands of would-be john pilots racing to get
6:33 pm
licensed under new faa regulations that just went into effect. the new rules frees companies from having to request special permission from the government for commercial drone use, a process that often took months. 3000 people signed up to take the test so far and the faa estimating the number of drone operators will exceed the nation's 171,000 private pilots within a year. discuss from new york, verify cofounder and ceo jay bregman. the company offers on-demand drone insurance. and alan levan joining us from washington. alan, lay out the new rules and how it will impact users as of now. alan: before you could fly a , but you hadially to get a special exemption. it initially took quite a while. .ou had to be a licensed pilot now you can just do it as a matter of course. you have to get a license, but it's much easier. you have to pass a knowledge
6:34 pm
test. said, 3000 people signed up to take that test already today. it takes about 10 days to get the license going. once that happens, you should be able to fly pretty much at will after that. there are a few restrictions. you can't fly over people. it's daytime only at low altitude. otherwise it's really opening up to a lot more people. emily: jay, what do you like about these new rules and what don't you like? jay: what i like about these new rules is that for the first time today you can go into an apple store, by a phantom 4, take a test at one of 600 test centers, get fitted similar to tsa pre, get insurance, and get your certificate to be a remote pilot, and make the money back it costs you to buy that drone and probably a number of weeks. that is really exciting for an industry. emily: is there any area in which you wish these rules went
6:35 pm
further or anything you dislike about them? jay: our customers have been talking about their nervousness around a waiver process. almost every provision of this new rule has a -- the ability to submit a waiver online that you should have the right to fly, for example, near a certain or other types of conditions that are normally prohibited. they are a bit nervous about how that process is going to work and how much time it's going to take, but time will tell. emily: talk a little bit about rules for hobbyists, or the lack thereof. as i understand it, if you are i want to buy a drone and use it for fun, we don't really have any rules to follow. yes and no. there are no specific rules. you are supposed to follow the safety requirements of a community or organization. basically what that means is, very much similar to this
6:36 pm
commercial rule, you are not supposed to fly over people, you are not supposed to go too high, you are not supposed to go near airports, etc. there are certainly questions about how well that is enforced. seen hundreds of reports of drones flying near planes and whatnot. essentially, the rules are very similar. i was speaking to the secretary of transportation, anthony foxx, last week, about this very issue and the fact that our rules for hobbyists could potentially go further. what is your take on whether more regulation is needed in that area, or what? jay: we think more education is needed. really it's about letting people know what they can and cannot be doing rather than any form of regulation against them, and that seems to be working very well.
6:37 pm
there isking sure material in every box to let people know what they should and should not be doing. emily: take a look at what secretary fox had to say about these new rules and what sort of industry they could help open up when it comes to drones. take a listen. >> it will really open the door to many, many more commercial uses. hand, as we have commercial uses, the hobbyists, airplanes, the integration of all those different uses into a single system is going to be the most complicated part of this. emily: let's talk about the industries that this will affect most. there is been a lot of talk about agriculture, transportation. what do you see? alan: on the ground, imaging is the number one vertical.
6:38 pm
that would be things like real estate photography, event photography, wedding photography . anybody who's a photography is now basically a drone photographer, and probably will be going out to get a part 107 license. areas areing large inspections, and that could mean anything from roof inspections to sell tower inspections to any other number of things people expected with human beings that are more efficient and safely done with drones. emily: what about amazon? how far off is an amazon drone, delivering my packages to my doorstep? amazon is doing most of its testing in cambridge and the u.k. right now. we don't know how far they have gotten with it. from a regulatory point of view, there are some stumbling blocks inside department 107 regulation that they, google and others wish could have gone further. is really have to see how the technology develops and how the process develops around these deliveries. the person, as
6:39 pm
reporting on these issues, what do you think is the next frontier, the next story, the next development when it comes to drones and drones regulation? alan: it feels like we are seeing a critical mass here of change. we are going to see by the end of the year rules that will allow drones to fly directly over people. it will be relatively simple at first, covering the drone with home so if it falls he will not hurt anybody. giveext step will be to broader permission to fly long distances, so real roads, power companies want to be able to fly these things miles and miles over infrastructure to inspect them and use video links. once that happens, i really think we will see some and thens growth, after that, probably these deliveries we are talking about. emily: bloomberg news aviation reporter and verify ceo jay
6:40 pm
bregman, offering on-demand drone insurance. thank you both for joining us. a story we are watching, e-regulators raising concerns over whatsapp privacy changes. the facebook owned messaging service would allow, once updated, to be used for advertising and would allow businesses to reach its more than one billion users. reacted today by stressing the european users need to remain in charge of their personal data. italian and british privacy authorities said they will probe the planned changes. whatsapp said it complies with existing laws and has made its privacy policy easily accessible to users. coming up, a ride hailing rivalry brewing in silicon valley. reports of uber shutting out alphabets execs. fiat and samsung discuss a possible deal. ♪
6:41 pm
6:42 pm
6:43 pm
watching isry we're a partnership brewing between fear chrysler and samsung? the italian carmaker is looking for a tech tie up so it doesn't get left hind in the race for self driving cars. in recent months we have seen fiat chrysler pursuing talks with apple, google, uber, and amazon. here is how the ceo described his relationship with samsung calmest eking with bloomberg tv in rome. a very goodave relationship with samsung, both as a supplier and potential strategic partner. what i did say when i was in sterling yesterday is that the opportunity is an opportunity that has been looked at by a variety of people.
6:44 pm
i think it has strategic value to us. emily: as we previously reported, samsung is in advanced talks with the at to buy some or all of the automakers car parts business. analysts say a deal involving a rally could become the basis for fiat to develop self driving cars in partnership with a tech company. some rivalry brewing in silicon valley. uber is reportedly blocking a senior alphabet executive from attending the startups toward meetings. uber is said to be keeping information from a board observer and executive at alphabets venture-capital arm, google ventures. the development highlights mounting tension between the two companies. unger has previously reported that google has its own right healing avenue in development, a project that dovetails with the search giant's driverless car ambitions. if google were to launch such a service, it would likely compete directly with uber. detailsgive us all the
6:45 pm
is our bloomberg reporter, eric newcomer. there are new reports that google's chief legal counsel isn't even allowed into the board meeting. what's new? >> we have known gogle-uber -- google-uber frenemy status for a while. we have known google ventures, the investor part of google, has kept its distance from uber. now we know that uber is saying, according to the information, you need to not come to our board meetings. emily: google ventures invested in uber early on. it may not have seemed early at the time but now we are near $70 billion valuation. they have certain information. what happens to those rights, now that those two companies are going head-to-head, increasingly. eric: the important thing here, it's all about relationships.
6:46 pm
investors withof rights to information, but at the end of the day they really care about what uber execs think about them and they are not going to push for -- i think you have to think about those sorts of things as negotiated and sensitive. i don't think we have full visibility into what exactly is going on there. emily: the information reporting that david crane, new head of gv, they are withholding information from him. google, waze is gotten into ridesharing and carpooling. uber is also working on self driving cars. it will be the first to get a self driving car on the road in pittsburgh. how do you see these companies -- eric: the ceo of rober has said -- uber has said that he sees self driving cars is existential to uber's success. anything puts them
6:47 pm
on a collision course. i think this is sort of inevitable, that there would be a more public viewing of the potential and future tension of the two companies. emily: there are some parallels here to google and apple. eric schmidt was on apple's board for a long time and eventually resigned. could we see something like that happening here? eric: it's very similar. the funny thing with all these relationships is, companies are super interconnected. uber is using google for mapping. matterend of the day, no what, even when they are competing they're going to have a relationship. emily: we are getting a tweet in here over at the bloomberg terminal that alphabets david german has left the uber board. there we are then. what is the significance of this? eric: it firms up what has been brewing for more than a year now, which is that google and their relationship was
6:48 pm
deteriorating and this is sort of a clean way to say, ok, no. we should take him off our board. emily: a story that i know will continue. david krane remains an observer on the uber board. eric newcomer, thank you so much. tomorrow on bloomberg, do not as a conversation with the federal reserve vice chair, stanley fischer. he sits down with surveillance anchor tom keene on bloomberg television and radio. doctors are examining the effect of virtual reality on our minds. how the new technology could help with pain management, next. ♪
6:49 pm
6:50 pm
forget morphine, hospitals are now turning to virtual reality as an effective treatment for everything from intense pain to alzheimer's to depression. with the price of hardware
6:51 pm
falling, vr is often an affordable option. bloombergs in king takes a look at the effects of virtual reality and how it an impact in mind. -- the mind. >> virtual reality is like a spotlight. mind sortence of the of being in this environment when it is immersed in this sort of peaceful, positive environment, it's almost like the rest of your experiences are unable to be noticed. it recruits so much of the brain to focus on that spotlight that everything outside of that environment falls to the wayside during that experience of virtual reality. >> cedars-sinai in l.a. is one of a handful of's bills experimenting with a surprising new treatment for people suffering from acute pain. >> i wonder if we can stop asking people how long you've been here at cedars-sinai. >> i have been here for 4 days, from chronic back pain. medications and
6:52 pm
possibly an epidural soon. >> i'm in the hospital because i have a total artificial heart, and last week it had a failure. i've been on the heart medication for pain for five years and i'm really trying to get off of it. >> i been having pain in my left upper quadrant in my right lower quadrant that goes into my back. i can't relax. i've had every test possible. if there was a surgery, i would do it today. chronic pain is more than just the physical experience. it's the biopsychosocial experience. virtual reality has a way of affecting people physically, emotionally, and to some degree even socially. >> i decided to try something different, something new. all right, are you ready? >> do you want to go to iceland?
6:53 pm
are you afraid of heights? >> i'm not. >> perfect. virtual reality undoubtedly has an effect in the mind. it sort of hijacks the brain. it can be used for evil, but it can also be used for good. >> what are you seeing? >> ice formations. it makes you feel like you can grab one. >> honestly, in the 18 years i've been practicing medicine, i can't think of anything i've done that's more effective, and you can physically see their body language change. they often will look straight ahead like we are looking at a still image. the moment they turn their head, that is the magical moment. >> it literally is like total panorama. the very least, it does no
6:54 pm
harm and has the potential to cut down on the need for drugs like morphine, make patients more relaxed, and even having them wanting to go home sooner. >> will this be something you might reach to before, let's ?ay, morphine i nevermillion years would've thought they would have brought it to a hospital to use. >> this helps me relax. when the muscles relax, pain goes away. >> vr seems to take patience out of their pain, at least for a while. it also seems to take them out of the confines of their hospital beds. for those trapped by their condition from long periods, it may help mitigate some of the stress of eating in hospital. >> -- being in hospital. >> it's like a jail cell, really. you still end up in this 4x10 room. >> we need a virtual-reality
6:55 pm
vr contenthelves of that is evidence-based and can reach off the shelf and match to my patients' needs. that, thee have broader opportunities we have to engage patients with virtual-reality. >> this is not about silicon valley entrepreneur is some great it's about when and whether we should interact technology with the compelling human experience of being a patient. it's not a computing science, is not an engineering science. it's a social science. king: bloombergs ian reporting their. now to a story trending on andbook, the facebook ceo his wife took a trip to vatican city to meet pope francis. the couple met with the pope to discuss the importance of technology and connecting with people around the world trade zuckerberg came bearing gifts. the facebook ceo gave pope
6:56 pm
francis a model of facebook's power solar joan that will expand internet connectivity to parts of the world that don't have it. that does it for this edition of "bloomberg west." tomorrow, and exclusive conversation with an williams. he will be joining us as a guest host for the full hour. this is bloomberg. ♪
6:57 pm
6:58 pm
6:59 pm
7:00 pm
♪ announcer: from our studios in new york city, this is "charlie rose." charlie: kenneth brenna is here. he is starring at the armory here in new york city. company from manchester, england has received extraordinary reviews. he revoked -- evoked memories of olivier. here is a look at the trailer.


info Stream Only

Uploaded by TV Archive on