tv Bloomberg Technology Bloomberg October 27, 2016 6:00pm-7:01pm EDT
through voter suppression operations aimed at lowering the turnover hillary clinton. the campaign targets liberals, young women and black voters. e-mails fromacked hillary clinton's campaign with his/her staff''s anger after news broke that she used a private server. wikileaks has released thousands of stolen e-mails from clinton chairman john podesta. united nations will make another attempt to evacuate 200 wounded people and to deliver food and medical supplies into the syrian city of aleppo. airstrikes have been halted for nine days in advance of the evacuations, but those efforts have failed. $265 millionp aay to settle claims related to derailment in philadelphia. people were killed.
global news powered by 2600 journalists in 120 countries. i'm mark crumpton. "bloomberg technology" is next. emily: i am emily chang and mrs. bloomberg technology. alphabet -- mobile and online video. we dive into the analysts report. an e-commerce giant says that holiday sales could disappoint. we will see why. 47 billion that the future of mobile is on four wheels. we break down the pressures of nxp, the chip industry's
biggest deal ever. couple that shares are higher in extended trading after posting third-quarter sales and profits that beat analyst estimates. google's ad business more than made up for it on moonshot and new hardware division. revenue rose 21% to $18.3 billion. adjusted earnings per-share climbed 22% to $9.00 a share. key metrics on the ad side, jumped 42% thanks oto more paid ads on u2. joining us now to break it down as victor anthony in new york. and adam burke and our bloomberg tech reporter. victor, i want to start with you. what you think are the biggest highlights when it comes to the core google business and how the ad business is doing? victor: there were expectations
given the fact that google, -- that growth would not have been as robust as what they reported. it was a very strong number. their growth, core google website only decelerated one point. they were expecting 300 to 400 basis point accelerations. they beat estimates on etf's. slight in the margin expansion i was looking for -- did not come in. they announced a share buyback of $7 billion. i majored in math. i need to go back to my desk and tried figure it out, but overall it was a solid quarter. it is the stuff you want to continue to own. i both spoke with a high level alphabetic second of about this quarter focused on mobile, but the mix is shifting which is why we are seeing some transition there. focusing on the power
of google cloud and google flight. google play. >> the percentage of the of the revenues -- grew 40%. amazon also with, they had a rought quarter. but aws did really well. a lot of experts are saying that google is far behind amazon and microsoft. emily: they have been talking about this, the ceo take a listen to what he had to say about their cloud strategy. throughaling up partnerships is a big area of investment for us. we are also establishing a learningud machine group so we can take advantage of working with our cloud customers and make machine learning more accessible to all of them. i would say other areas are sales, engineering and marketing. expectead into 2017, i cloud to be one of our largest areas. emily: now, back to the advertising business.
adam, this is your business. mobile is driving the shift. they are still seeing a great presence on tablets and desktops. adam: it is similar to what we have seen in past announcements that just the growth in clicks is just staggering. it really makes up for anything that might be happening on the cpc side, which is decreasing faster than people expect. that shows the shift to mobile and the fact that it is not a perfect transfer. it grows the pie. people are spending more time on computing devices in their pocket. ok, let's search this. it is increasing that volunteered emily: is it still a two horse race between google and facebook? adam: we are seeing growth -- our customers want to see their audiences wherever they go online. are a and facebook
massive share of that. we are in a strong environment for performance marketing because we are seeing all channels grow. emily: let's talk about what is happening in the other -- this always gets a lot of attention. mark, there has been a lot of turnover there. we have seen ahead of fiber leave, the head of project win, their drone delivery service leave. l, it was emphasized to us they continue to believe all these things are great opportunities. just that they want some more technical and financial transparency before they decide to re-accelerate. >> they have been pretty clear, at least with the investors -- the last three quarters. they're still testing the model. we saw the revenue climb a little bit with the other bets, which is mostly coming from nest and fiber. we saw losses minimized a bit. which suggests they pulled back investment. in fiber they are pulling back from 8 different cities.
they still have 12 markets. he sort of dutch the questions, fundamentally, google fiber which has been their biggest investment is redirecting its strategy. emily: given the strength of the core business, how concerned are you about the transition we are seeing and a lot of these other bets? >> it is somewhat concerning that you have multiple different executive departures over the past year. though, it is a small percentage of how we value google as a stock. it does not really factor much into the analysis. i view it as optimality. whether it be fiber, scaling term nest or a long endeavor. anyone of these in the future, if their option, if they develop meaningful businesses overtime, fine. that is more upside for the stock. now it's a to minimize factor in
how we value the stock. we don'ot t pay much attention o it. the ceo is more discipline. what you will see over time is more cost rationalization. i'm comfortable with where we are right now with those businesseses. the core business is doing fine. it benefits from multiple different secular tailwinds, video, search. the company is buying back stock. it is going to continue to report revenue growth near the 20% range. play. you talked about the cloud services businesses which their runway is extremely wide. amazon is in a pole position. you have google, and microsoft and other companies will benefit. muchn't really pay as
attention to it as far as our evaluation of the stock. emily: quickly talk to us about some of the headwinds coming in the advertising business. adam: i think there is a lot more tailwinds been headwind. we are still looking at a $70 billion tv market that will migrate to digital overtime. and companies like google, like facebook, are in this pantheon of must-have marketing channels that you want to have on at all times. in,hose $70 billion flow they will be well-positioned. i mentioned, it is a little concerning to see cost per clicks decrease at an increasingly fast rate, but the fact that the volume is making up for it and then some, is a good sign. marketers are increasingly performance and data-driven. that presents a lot of opportunities for folks in programmatic advertising. emily: all right. our alphabet reporter, victor anthony. thank you all. other stock we are watching.
eating on profit after it cut spending on subsidies for on-demand services. -- beating on profit. food delivery depends on discounts to grow users but has eroded its bottom line. revenue was 18.3 billion yuan. up, amazon shares tumbling after hours off the company's ever important holiday sales forecast. details next. all episodes of bloomberg tech are live streaming on twitter. check us out. this is bloomberg. ♪
much as 9% after the e-commerce giant lowered its forecast for holiday sales. the company reported a revenue of $32.7 billion in the third quarter and a profit of $252 million. investor expectations may have been too optimistic about amazon's ability to stay profitable while it attempts to expand in india, bring grocery delivery to more cities, and launch streaming services to challenge netflix and spotify. one bright spot for amazon, amazon web services reporting a third quarter revenue of #.75 billion-- $3.75 billion, up from last year. the ceo of boomerang e-commerce and joining us from new york fro m gadfly. smaller then expected increase in profit. jeff bezos saying, i never said this was going to last.
>> investors were ratcheting up the stock to pass $800. on this promise that, ok, we are going to keep seeing profits every quarter. and that is not what amazon is about. somebody who has worked at amazon and works with jeff bezos, bring us into the way he things about this. of growingday of age top line, you're happy to grow fast or buying slow in e-commerce, especially today, if you look at this quarterly have addedmily, they $7 billion year on year on this quarter. if you put that thing in a little bit of perspective -- emily: they have almost lost all that much. which is the problem. nethey missed on the income, but they are still in the black, which is not expected out of amazon. to put it in perspective, the $7 billion they have added is more than say the combined full
quarter revenues of bed bath & beyond in the last quarter. that is the amount of market share growth is amazon is gaining. that: there is no question amazon has such a powerful market share, such powerful mind share. what would you point out about the cloud business given that google and microsoft are also making the cloud is huge priority but amazon seems to be so far ahead. >> amazon is quite a few years ahead. their cloud business is around $10 million -- $10 billion. they are definitely big competitors and they are going into the market and amazon needs to be worried about it. that is where their profit is coming from. but they are still ahead. so, for now, amazon can use all the money to plunge it into other investments they are going to do, say grocery, building more warehouses to have space for their holiday goods they will sell this quarter coming up. but, you know, it is not going
to last forever. i think amazon knows that. emily: it is interesting comparing amazon to apple that guru.-- to alphabet and there is a market for things like grocery delivery. what do you think about their strategy around experimentation and whether or not these experiments are going to work? >> the focus at this point him in amazon is all going to be on q4. the race for market share yet again. they will continue to invest in lowering prices, taking all the profits they are taking from a ws and pumping it into pricing technologies and looking at expanding the warehouses and things like that that they have to in order to grow in the holiday season. but looking forward, all of this sort of gets into this so-called amazon fly wheel, which is the earth's largest selection. adding some of -- the elements
el.ld fuel that fly whe they will also lower pricing from that standpoint, lowering the cost infrastructure to serve all of this. that is how they are going to grow this. emily: i wonder about shipping costs. they were up 40%. at some point, is the hammer going to come down on customers or is amazon going to be able to keep up the amazing shipping benefits that every amazon prime customer has? >> i think that is what caused thisbig profit, not miss, change we were not expecting. because they said they had built 18 more warehouses. gettingy're really ready for this holiday season. they are being strict on their marketplace vendors, saying we do not want anything in our warehouses this holiday that is not going to be bought during the holiday season. put it back in after january.
they are focused on that and taking on fedex and ups, not waiting around to see if fedex and ups will have enough trucks and plains to carry their their own andng going into drones. those are things that amazon set its mind on, to say, we have to do this. we have to be able to do this for the reason is because p where everything is for them. they need those prime members to the membership program is important to them. at some point, they are going to hit a peak prime as well. what they will have to do is continue to convince prime members to spend more because there are only so many people that they are going to have to sign up for his customers. emily: quickly, how important will alexa and amazon echo be to amazon's future? is it going to be a whizbang gadget or the heart of it? >> we think one of the fastest-growing businesses for amazon, and it adds into the
ecosystem that amazon has, where you only have a bunch of traffic coming to the website. but this is a chance for amazon to grab the traffic, which is not online, think about when you are with alexa. this is when you're waking up or having lunch or dinner. you're talking, and that is traffic coming to amazon. if this plays out well, this is going to bring a step function in improving in traffic. thank you both. still ahead, twitter sketches out a plan to become profitable by next year. how jack is making the case for staying independent next. this is bloomberg. -- how jack dorsey is making the case for staying independent. ♪
dorsey make a case for staying independent while sticking to restore growth. twitter sketched out a restructuring plan to aim and becoming profitable next year. first up eliminating 9% of its workforce. melissa parrish joins us now from new york. so, are playoffs enough? melissa: i'm cautiously optimistic. i think that lay-ups are always incredibly difficult, but i think the plan if they stick to it sounds pretty good. double down on the product, focus on that engineering talent you have got. shore up the core services and ad products. that sounds like the right way to go to me. emily: most of the playoffs are coming from the sales departments and they are also shutting down vine, the video service. but what do you think of the live broadcasting strategy and games, bloomberg television shows, presidential debates -- is that enough to help the future of twitter? : i think it is a step
in the right direction. the beauty of twitter and i think the thing that gets lost in the conversation about financial results is that there is real passion in the user base. it is the social network of record for all those live events you just mentioned. because of that, there is something special about the audience that flocks to twitter to talk about the presidential debates or to view live events in a way they don't flock to twitter's competitors. so, the question is, can they monetize his audience? can they figure out advertising products that are specific to both the medium, the device, the network and the audience? to all those things that will generate enough revenue. what i don't think makes sense is the rest their hat on advertising that looks exactly like television. twitter is not television. the audience is not a television
audience. the device is not a television. i think it is going to take some real ingenuity to figure out how to take advantage of that live streaming and that kind of functionality. but i think it is a smart move. cfoy: we did hear from the pushing this live strategy about the composition of the people who are watching these live streaming shows on twitter. take a listen. >> we did, the debates live, which reached record use. it had a young audience with 70% of the audience less than 35. we saw an incredible reach over 3 million on a number of the debates. emily: bloomberg has reported that anthony noto has very much become the sort of heart and soul of the company, a big cheerleader. he's got experience and football. do you think that jack dorsey can do two jobs? is the pressure greater than
ever that he needs to focus on just one? requester.at is the i don't mind saying that people much smarter than me when it comes to analyzing the executive ranks of companies have pointed out this is a challenge. how can any ceo no matter who you are run two technology companies at the same time? i am really relying on those folks who have analyzed that kind of situation many more times than i have when i say, it surely sounds like twitter needs a strong full time ceo. you sort of get around that at this point. emily: when do you think twitter will become profitable? answer tof i knew the that, i would be in a much higher pay grade. emily: all right. thank you so much for breaking it down. and microsoft unveil
with the united states. in a speech today, president putin said the u.s. is hysterical ball russia's alleged influence on next month's election. he added the russian military threat is a myth and the country does not plan to attack anyone. cites aciated press state official in north dakota saying that authorities are using a new bag rounds and pepper straight to remove dakota access protesters from a camp on private land. the protesters refused to voluntarily leave the path of the pipeline construction. earlier today, officers conversed slowly on the camp from two directions telling the protesters if they didn't leave they'd be arrested. the justice department is in the unitedople states and abroad in connection with a call center scams based d in india. they posed as irs agents threatening arrest and deportation unless money was
paid. it tricked 15,000 people into shelling out $300 million. after six: 30 p.m. thursday in new york, 9:30 friday morning in sydney. i'm joined with david signaling with a look at the markets. good morning. david: good morning. the world economy seems to have a little bit of a spring and it step these days. you are not seeing it in new zealand for the local index has opened down 0.1%. have a look across to australia and japan, futures on those indices are looking positive right now. up 0.5%. that 0.5%, remember that % is where analysts expect is he japan's cpi later on today. of course, raising japan's 2% level has the been one of the core tasks for
the government. it is not really happening. we have seen this -0.5% level for most of this year. so, and the bank of japan looks like it may be pushing office 2% target into 20 18th at also, we will look at china's energy industry. cinopec reported a big jump in profits overnight. we will see petrochina, china's exon it is sometimes called. miners coal reporting today. the demand for oil has peaked in recent years. that is what we will be looking at today. i will hand it back to "bloomberg technology." thanks very much. is "bloomberg technology." i'm emily chang. apple is looking to reclaim lost
market share with a refreshed mac lineup that includes it's first mac book pro overhaul in four years. >> this kind of design is only possible with the unique collaboration between hardware engineering, their operations, and our industrial design team working together to solve problems they have not even tried to tackle. it is the new gold standard in notebook computers. it enables innovations not possible before. emily: the standout feature is a new digital display on the top row of the keyboard called the touch bar. they will also include a fingerprint sensor and attract tab that is twice as large. but it has got serious competition. microsoft held its old product event yesterday and its surface line got several updates with positive reviews. which company moves the needle more? joining us is our principal analyst and our bloomberg tech reported. since you reported a lot of
these changes that we saw with the lineup with the mac lineup, anything that surprised you? >> not a ton of surprises today. besides the fact that they very much focused on one single product. haveon't often see apple an entire event around one product that only represents a slim percentage of the company's revenues. i think the touch bar, as you mentioned, is very interesting because you can build applications. they are hiring developers to do this. this might create an ecosystem of new applications that basically merge between the touchscreen and the actual screen in a laptop. emily: there was some negative reactions to the touch bar. tweets like we waited this long and all that is new is the touch bar. shouldn't it be placed lower? what do you think? ben: when you look at what apple
is doing and i think the touch bar is an admission on their behalf that some sort of a touch experience belongs on our clam shell. people have argued about this a long time. apple says that we are not going book. touch on mac but this is a recognition there are some things that are nicer when you can use your finger. i thought it made sense, move your fingers forward. that makes sense. it comes down to the work flow. anytime we see just looking at what microsoft did and what apple did, anytime we see innovations in hardware, it is designed to create innovations and software. really, both of these products are dependent on what the software community does with the things they are enabling, the big touch screen or the touch bar. it is the software community that will advance that future. emily: what is your take on microsoft vs. apple? >> overall, microsoft was not just a hardware service. for windows, they did a ton to
move the windows platform forward. that is important because you look at the two companies, there is exponentially more consumers and workers on windows than on macs. i think the way they are starting to come away from that productivity is just excel. they are getting more excited about creativity and 3-d. that's pretty exciting for the windows ecosystem. i think they did a lot to move windows forward. mark: i would have to agree. i think they are working are two different spectrums in terms of their computers. microsoft came out with the surface studio which looks like an apple patent from four years ago, where you can use it like an i-mac and draw with it. it's interesting that apple decided, for whatever reason, not to take the approach with the i-mac. in the terms of the mac book p ro, it is a totally different direction than the latest microsoft laptops. even have it in the clamshell
mode like a normal laptop or you can pop the device off. you have a tablet when you want a tablet. instead, apple wants to sell you both. from a financial perspective, that is the way to do it for apple, a company that is worth more than any other company in the world. from a convenience standpoint, some people might like microsoft. hardware starting to become more commoditized. anyone can get processors and builder own graphics engines. the google pixel phones, it comes down to the software. you want to be part of windows or android are part of ios? emily: we can't forget what they talked about with regard to tv. twitter coming to the apple tv set top bosx. the live shows streaming on apple tv. also, this new tv app, which allows you to access apple tv on any device. what do you think of these development? ben: pretty straightforward.
this idea has been around for a long time. i've got my content and i want a better way to use it. they're essentially bringing us a modern guide. all the things we can access from sports to news app to any range of different products or content, pieces of content we can put now and they are bringing that to the discovery -- what's interesting is companies like netflix and amazon are not jumping on board which is anderson because those companies do want to control more of the experience where apple is trying to say we can do a better u.i. that is going to be a battle. everyone will agree with the vison. ion siri worked really well. andthings like netflix amazon and other vendors that have siebel content, it behooves the consumer for them to get into but i see a little bit of a rub. emily: hang on a second. i want to talk about his huge
deal we are following. qualcomm agreeing to buy mxp. the deal making, marking qualcomm's most significant foray outside the world of smartphone chips and patents. $29rket that grew 10% to billion last year. the deal is seen as a diversification strategy for qualcomm as mobile phone growth loses steam. the ceo spoke to bloomberg about the synergies of the two companies. >> we think the culture from the perspective of what really drives them, it's innovation, its customers, it's focus, it's discipline. all those things we think are consistent with our cauterize well -- our culture as well. emily: if the future is not just chips and smartphones but chips
in everything? >> our believe is that everything will be connected in some way shape or form. really moving was on a good sort of path in connecting lots of things from iot. in automotive. all areas were qualcomm was weak. this makes a ton of sense on paper although some investors are concerned about integration and what that looks like from a dutch company and a san diego-based company. on paper, it makes a lot of sense because they do have come from entry portfolios. what qualcomm does and what nxp with acquired free scale does in the peripherals and accessories. it puts them in a strong position and it is evidence of what we are seeing in the semi conductor industry but we are toward the end of this, weather is not a lot of big deals. this is one of those big ones that now solidifies qualcomm and could put them anywhere to the
top of revenue, not just in the second or third. emily: qualcomm has been a leader in smartphones, smartphone chips, iphone. nxp chips are in the new google pixel. >> to add to what ben said, if you look at the chip industry and apple specifically, they have been moving away from qualcomm sort of quickly the last few years to developing their own chips in their labs. now they are diversifying the modem so the chunk of the iphone 7 have qualcomm modems and intel modems. nxp, qualcomm says to apple, we are coming back to the iphone because who makes chips that are so important? nxp. the same thing is going to happen with google. it is a good purchase from that perspective because you know how much of volume apple has and how much google might have in the future. emily: all right. always great to have you here on the show. coming up, transfer wise.
takingtransfer wise is aims at small businesses in the united states announcing a new product launch transfer wise for business, and easy way for businesses and larger companies to transfer money internationally. studio.joins us in the did i say that correctly? so, first of all, talk to me about who is going to benefit from this and who specifically you are taking aim at? onwe are businessa focused consumers at first but we
realize consumers tend to have companies who work for or are entrepreneurs themselves. we toook some feedback and we focused on small to medium businesses. the companies doing international transfers, they might have employees or customers abroad. we took all the feedback and made a product targeted for them specifically. emily: your competition is major foreign exchange services, correct< that are also try to take on this market. how do you stack up against them? >> we are really looking at doing the same thing for businesses we have done for consumers. doing it very easy to use product. focused on very good transfer for low-cost. so typically we are, 8 times cheaper than using a bank in the u.s. emily: talk to me a little bit about brexit. you were vocal remain supporters. how does that impact your business? >> so, we still don't really know what brexit means.
that is what is most frustrating. we have, during brexit, we had a good time, triple the normal volumes. now it's a whole ecosystem in london is worried about what is going to heaven. being -- going to happen. being in limbo, we are worried about talent, can we hire people from abroad? what is going to happen to regulations and passports? are inwe -- today we between a state of uncertainty. emily: your headquarters is in london. has it impacted your business at all thus far? >> we haven't had any impact yet, and i would even guess volatility means more people are transferring money which is good for us. emily: you also believe that companies are going to be hiring more talent abroad, and hence, the need for your business. explain the trends you're expecting to see. >> overall, we will probably see
much less -- it's a much more flat and interconnected world. it is becoming normal for companies who have employees abroad, to engage in international trade. more's going to be much need for companies and consumers to move money internationally. emily: how much are the businesses peer to peer? >> when we look at our bigger routes, the majority is peer to peer. emily: talk about the features of the business, questions about when you will get to probability?-- to profitability? >> we have been around for five years. the past four months, we launched in australia and japan. the company is trading more than $1 billion on a monthly basis. looking forward, we are continuing the expansion. so, some markets we have launched in australia, japan are still sensitive. focus on that and focus on new segments. we also have great partnerships
we have lunch with banks in europe. looking at expanding on this. emily: do we expect another funding round or an ipo next? >> we are focused on growing the business for now. as such, i think that it is the best way for now. we are really well-funded. no news on that front. emily: all right. the transfer waise ceo, great to have you. tomorrow on bloomberg, daybreak america, he joins us for full analysis of amazon and apple that earnings before the opening 5 new york times, this weekend, we will bring you our best interviews with a week including my convo with t-mobile's ceo. stay tuned, this saturday, the best of "bloomberg technology." ♪
emily: turning now to the biggest u.s. ipo of the year. shares falling in their trading debut after the company raised 1.4 billion. it gets most of its business from alibaba. our bloomberg ipo reporter spoke to zto's cfo at the new york stock exchange today. she started by asking about the relationship with alibaba and whether he was concerned that so much of his business is coming from one customer. ouro, now over 71% of partial volume is from alibaba. actually, that has dropped from about 80% a few years ago. so, we are also diversifying our business to non-e-commerce areas. for example, delivery of business documents. and retailers to ship goods across the country. ztoy: that was james guo,
express cfo. moving on to some of the biggest tech companies in the world out with third quarter results from alphabet to amazon. cory johnson has been going to the numbers and joins us from l.a. cory, give us the contacts -- context on profitability. beenurse, amazon has treating investors to a better profit for the last few quarters. but this profit seems to return to business as usual. what is your take? the: yeah, i mean, i think thing to focus on is the different business, aws and the amazon retail business on the other. it has never been so clear as it was in the quarter before tonight. what you saw in terms of aws growth, the growth rates are fantastic for this giant business doing over $3 billion in revenues for the quarter. growth rate of
50%. that is coming down in every quarter, but 55% growth rate is such a big business is a big deal. emily: so, talk to us about the future of aws. we were speaking about it earlier, especially with alphabet reporting earnings as well. cloudprogress in their business, yet it is so much smaller than amazon, as i microsofts. the cloud is expanding but is it possible for google or amazon -- or microsoft to catch up to amazon given their great head start? cory: microsoft is growing at dwice the overall clou business -- but the growth rate for amazon has a flywheel effect. wereargins for aws fantastic at 26%. even as they cut prices, it is more profitable. compare that to the margins of big amazon where you saw, as you were discussing in the show, this giant collapse in what was a barely profitable business.
but the collapse of those margins down to 1%. now, that's the operating margin. we'll stick with that slide. it's now 10% of the revenues virtually of this overall big business. that it isng so fast really important factor when we look at how the business works, how the business is growing at how the business is going to keep profitability. compared to the 26% operating theins for aws to margins of all of amazon, which is a different number. indeed, you can look at it a different way. all the profits for amazon and a quarter, over 100% of the profits were for amazon web services. emily: talk about what this means for the retail business. obviously, we have seen shipping costs go up 43%. amazon is adding warehouses. but it's a very expensive operation. and the real reason they are just breaking even. cory: yeah. the shipping costs, again, as
part of the sort of flywheel effect they have got. running revenues to the company, taking whatever cash flow they have and reinvesting them. the thing that sticks out again business.s conceptually, if they could run the retail business at a loss and drive whatever profits a need to derive from the aws business to keep cash flooring and keep getting bigger and building more distribution, it becomes a bigger and bigger business. we do not need to look at this jeffer to tell us that bezos is not looking for profits. look at this. 50% of the profits were from amazon web services. similar to the september quarter last year. just a giant, giant number. it shows you how perverse the effect of aws's profits are on a business that is run at the line to show no profits in any other way. emily: cory johnson joining us from l.a. thanks so much.
that does it for this edition of "bloomberg technology." tomorrow we will hear from -- founder who says the majority of jobs will be done by machines in 40 years. that full interview airs on bloomberg studio 1.0 this sunday 9:00 a.m. pacific. remember, all episodes of bloomberg tech are live streaming on twitter. check us out @bloombergtechtv. 6:00 p.m. in new york and 3 p.m. in san francisco. this is bloomberg. ♪
>> from our studios in new york city, this is "charlie rose." charlie: welcome to the program, we begin with two supreme court justices in conversation at the new york bar conversation. we talked to justice ginsburg mayer. ice soto >> i saw myself as a teacher. and thought it would be a good occupation and they weren't welcome as doctors, lawyers, engineers