tv Bloomberg Technology Bloomberg November 16, 2016 6:00pm-7:01pm EST
trump tower. de blasio told reporters the discussion covered several issues, including immigration. >> that proposal countered and flew in the face of all that was , the about new york city ultimate city of immigrants. the place has succeeded because it was open for everyone, the place else generation after generation -- filled on generation after generation of immigrants. mark: the iranian president said his country remains committed to a landmark nuclear deal. president trump has criticized the deal which cap's iran's nuclear activities. u.s. secretary of state john kerry today made an appeal to all nations to continue the fight against climate change. at a u.n. climate summit in morocco, kerry said failure be, quote, a betrayal of devastating consequences. president-elect trump has called climate change a hoax and pledged to cancel the paris deal limiting greenhouse gases.
bob dylan, winner of this year's nobel prize in literature, won't attend ceremonies in stockholm. the swedish academy says dylan told them that quote, other commitments make it unfortunately impossible. i'm mark crumpton in new york. "bloomberg technology" is next. ♪ emily: i'm emily chang and this is "bloomberg technology tilde coming up, cisco sure sliding after the company forecasts a text in a slowdown on the horizon. the full earnings report ahead. oftter suspends the accounts prominent white supremacists as it attempts to curb abuse and harassment. says teslat seller shareholders should quote, have their heads examined if they approve the pending deal. his full comments ahead. first, to our lead.
fallout from the election of donald trump continues to ripple through the tech world, especially when it comes to social media companies. twitter says it suspended the accounts of prominent white supremacists, among them, richard spencer, often credited for spearheading a movement that supported president-elect trump. twitter added tools this week to help users better filter out of use. a statement, the company says, because twitter happens in public and in real time, we've had challenges keeping up with an curbing abusive conduct. we took a step back to reset and take a new approach by focusing on the most critical needs. facebook continues to come under in the election and heel are dismissed those claims. me, the cofounder of asked tech centers, and sarah frier, who cover social media companies for bloomberg tech writer let's start with the banning of white supremacist
accounts from twitter. how connected is this to the election of donald trump? sarah: twitter in the run-up to the election has understood that there has been a dramatic hateful conduct on their sites try to the anti-defamation league has run studies straight has been an increase in white supremacist, tic, those commentaries, as a result of the excitement over the election. not necessarily endorsed by trump, but they have found a way to rally around the election. and so the company was already working on tools to current harassment in light of that, and i think that the news they released earlier this week about some of the more stringent rules are going to be in place, better reporting tools people will have , and now they are showing they can actually take action.
this is something to have come under fire for in the past and in light of the election, they really need to take a serious look at it. there is a fake news on twitter too, but on twitter people are much more concerned about the amount of harassment and abuse. emily: facebook and twitter have been criticized for amplifying the voices that people wanted to hear. listen to what mark zuckerberg had to say about fake news and whether or not influence the election. think the ideai that fake news on facebook -- it's a very small amount of the content -- influence the election in any way is a pretty crazy idea. emily: jennifer, what do you think? how much responsibility does facebook, twitter there here? >> the election has highlighted and amplified how impactful social media is.
i think all of these private organizations -- they aren't subject to first amendment coverage, common carrier rules. theirw they think about impact requires them to reflect on what that looks like. even if it's a small percentage of that today, how this will change over time and what tools they can use on a nonarbitrary basis, manage fake news or harassment or aggression through their sites is something they need to be taking a look at and i suspect ar -- they are. facebook is a. david kirkpatrick wrote the book on facebook and suggested earlier this week that jack dorsey is taking a more political stance. where we are seeing mark zuckerberg be much more apolitical. zuckerberg, it's important to
him personally to appear unbiased. we saw how facebook reacted to the dispute earlier this year around trending topics, when gizmoto reported that there may be liberal biases in the stories they selected to be trending. facebook almost over reacted to that. they fired the human editors, they invited conservatives to headquarters to speak with zuckerberg and learn more about how newsfeed works. this is a very tricky place for zuckerberg to bn. he does not want to be the arbiter of truth. he doesn't even want to block ws,sed opinionmongering ne opinion masquerading as news. those will be the most difficult articles for facebook to try to restrict. fake news could be easy. do you think facebook needs to take greater responsibility to add more human editors, human curators of news, like yahoo! news did back in the day? sarah: facebook has never
characterize themselves as a new site. never characterized itself as a promulgate or as news. putting that responsibility on them from a human editing perspective raises their liability. but the reality is so many other users are seeing their news through facebook. some automated tool solutions, and don't forget the power of users themselves, to be able to self manage and self regulate. ckerberg could put more tools in place to enable the individuals to manage that as well. >> if people are only clicking on stories they agree with, maybe they won't understand what's fake or maybe they have been lacking their own tools to discover what news is or isn't, to be believed. >> that's a challenge. that's a challenge even before facebook came along. people often choose to hear information they want to hear. so how much of that responsibility falls back to cebook versusd fa
the individual and consumer, and the education system we try to foster acceptance of different voices. emily: sheryl sandberg did publicly endorse hillary clinton in this particular election. let's talk about snapchat. they have filed to go public, they filed to go public before the election. any of theseacing allegations are they in a different place because the content is so ephemeral? snapchat is not fee-based. it's not even one of those situations where you are sorting through who to follow. they show you what to look at, they have their discover channel that has media partners creating content. they have live stories that have from clinton and trump. both candidates advertised on the platform. snapchat's really not been affected by this as much. it is more ephemeral content
that people are sending to each other. internally, i don't think snapchat executives, even though they filed to go public before the election, i don't think they are worried about a trump presidency. everything seems to be on track over there. emily: jennifer, you were just awarded vc of the year by deloitte. i'm curious how you are looking at investing in social media right now. you started a new fund a few years ago. given now power of facebook and twitter and snapchat, do you see social media as -- is a really room for growth there? >> continues to be amazing innovation. the elevation is driving towards a conversational interface. most of the innovation we're seeing in investing is moving towards where the consumers are spending their time, which is on messenger, facebooka
i messenger. where we see the opportunity for more applications will be driven off of building on that platform. emily: facebook facing allegations about -- it has come out saying they have miscalculated the amount of time people are spending on certain ads. sarah: it's a very confusing report. or 220ly they reviewed metrics they get to their partners and publishers, and they found that in 4 nwew cases, they got there math wrong. they overstated how much time people spend on instant articles, overstated how many -- went, -- far reach page reach went, and a couple other things. this is their attempt to be much more transparent about their metrics. in light of these mistakes, they will have a metrics counsel that
meets regularly. emily: sarah frier, who covers and jennife for us, r, thank you both. coming up, we will be talking more about cisco, billionaire and twitter investor prince al-waleed bin talal spoke to us. despite its falling stock price and question surrounding a sale, remainsl-waleed optimistic about the future of the site under jack dorsey. >> jack dorsey took over a year ago. he established many initiatives. r, thank you both. coming up,i think this have to n sometime. i'm optimistic. [inaudible] chanos,till ahead, jim
emily: tech stocks have crept back slightly in recent days and many have been questioning what a trump residency will mean for technology. chanos'founder jim joined joe weisenthal and scarlet fu earlier and asked what president-elect trump means for big caps u.s. tech. >> i think there is some basic narrative about technology in silicon valley being
out-of-favor, just like middle america was in favor. as we've said, who knows? it's too early to tell. >> prior to this election -- the recent moves aside -- did what we see in these big tech stocks look bubbly, like investors were casting aside rationalism about valuation? there are certain things we think are overvalued, and the business models are more questionable. and others are borderline sheep. -- cheap. >> which ones are cheap? >> not going to disclose where we are specifically. i think everything is moving together right now thematically. over time, that will dissipate, and the companies will be judged on their own merits. take a look at something as simple as net neutrality, which the obama administration embraced, and basically hamstrung the telecom companies
to the positive of the internet companies. he's in the past talked about that not being fair to the telecom companies. companies that have benefited from net neutrality have gotten hit pretty hard. the will he enact anything? we don't know. >> what you think president donald trump would mean for big deals that are still pending, such as at&t, and its effort to buy time warner? right above possibly our populist theory, i think there will be fewer business combinations. those tend to not happen in those time periods. he indicated skepticism on a couple big deals. >> we are a day away from a shareholder vote on the merger of tesla and the sister company, solar city. you have been really negative about tesla and the elon musk family of companies. tesla's come off a bit, but it
is still very high compared to where it was a couple years ago. there is still faith in the company if you ultimately change the world, perhaps. what do you make of this combination right now? think the combination is absurd. i don't know if i can sugarcoated anymore, but it's ridiculous. first solar's results, while they are not a rooftop company, this goes to show the risks that are inherent. there's deflation going on in the solar business, and tesla is taking on these debts. there is negative cash flow at solar city. the shareholders of tesla truly have to have their heads examined if they vote this deal in, but they might. they are going to rue the day they did it, but they may in fact do it. >> what tesla and solar city has going for them is elon musk.
he is an incredible master of in public capital markets or through private investors or subsidies. what is the story that musk is telling and why is it so effective? >> i was at a conference a few weeks ago, and someone asked me -- it is silicon valley. somebody asked me about this merger, and the business models of tesla. i made my usual snarky comments about it, and later that night someone well-known sort of silicon valley person came up to me and started poking me in the chest, saying, you don't get it. maybe that's part of the problem. here in wall street, we're pretty much focused on numbers and business models and is something sustainable, cash generation and do you make a
profit, are you competing in competitive businesses. there it's a much different viewpoint. a holistic type of a viewpoint. if it doesn't work in this, it will work something else out. he's a genius. so far, that's been right. how is it different than amazon, where there has been a bad people on wall street -- >> completely different -- band of people on wall street -- >> completely different. when tesla and alibaba get compared to amazon, i really just have to laugh. amazon went public in 1996. the last equity offering was in 2001. they have been free cash flow positive every year since then. amazon's business model was brilliant. it was basically the glorified dell model, in which we buy something on amazon, our credit
card gets charged immediately, and untile suppliers recently. amazon only has about 20 billion invested in its entire business over 20 years. does nothing. bezos' genius was to create a platform like apple did, and there were synergies offset platform. elon musk is in the auto business. that's a whole different business. emily: jim chanos, founder of kynikos associates. coming up, cisco's transition from hard work -- hardware to network service provider has hit some speed bumps. this is bloomberg. ♪
corporate spending on tech infrastructure is slowing. joining me from new york, glenn o'donnell. thank you for joining us. obviously cisco in the midst of a big transition. how would you corporate spendinn tech infrastructure is slowing. joining me from new rate the prs of the transition under the new ceo chuck robb and so far? the realen't seen results of the full transition yet. a lot is changing at cisco. this is a giant company going through some pretty major changes. i'm not surprised that cisco is having trouble with its earnings and revenue right now. it is a flattening market. compound that with the fact that chuck robbins is changing the company in some pretty dramatic ways. and, he's made some really good progress in making those changes. it is going to take some time until we see the residual effects of that. where he's going to take the company into some of the growth
areas. emily: let's talk about cloud computing. this is an area where amazon, microsoft, even google are winning, yet you have some of these older school tech giants like cisco ,hp, dell, oracle trying to take on the cloud as well. how likely is it that cisco will find strong footing here? on this written recently about the changing market landscape and how the cloud companies are getting a lot of the corporate technology spending these days. is at the expense of the companies you just mentioned, cisco being one. those tough market for players, and they all have to transform what they are doing to succeed there. that's not just selling to the cloud providers. all of that stuff needs technology. but they are not necessarily selling it to the cloud providers. they have to look elsewhere. some growth areas around internet of things, for example, force in be a massive
our world in general. it is going to be a lot of spending there, and that's not necessarily all going to loud. companies like cisco can capitalize on that, but it's a big departure from the past. it's a big focus of chuck robbins with some of his m&a. emily: i sat down with chuck robbins a few months ago on the one-year anniversary of him taking over from john chambers. i asked him about the election, as i understand it he has traditionally voted republican, however he would not tell me who he was voting for, unlike many other executives who came out strongly against donald trump write what would a trump presidency me for a company like cisco that is a global company, and has been a bellwether for the global economy for so many years? >> i don't know that it's going to make that big of a change for cisco. has made-elect trump
it pretty clear he wants to build our infrastructure and that could well for a company like cisco. but a lot of that infrastructure is more the physical infrastructure, highways and bridges and that kind of thing. you have got to question how much a company like cisco can benefit from that. some of the politics -- the geopolitics of the trumpet administration could impact some i thinkional trade, but people will just come to their senses and do the right thing. emily: when o'donnell on cisco earnings. thanks so much. chuck robbins will be on bloomberg television tomorrow, "daybreak america" with our own david weston. ♪
the damascus government in its civil war. speaking on portuguese state television, assad said his government needs to see if the incoming administration in washington is genuine about fighting what he called terrorist in syria. in the run-up to last week's election, mr. trump said he was ready to work with president assad to fight islamic state. senate democrats have elected a new leadership team, new york's chuck schumer will be minority leader, dick durbin of illinois, minority whip, and patty murray of washington state will be assistant leader. senator schumer told reporters democrats will work with president-elect trump on issues where they agree that challenge him when values or progress are under assault. former french economy minister has announced he's running for president in the cure's election. he is a pro-eu liberal who pledge to offer an alternative to both the political establishment and to populists. the european union's unveiling plans for a new system of
security checks to crack down on extremists. people from 60 visa waiver countries, including the u.s., will have to pay a little more than five dollars and fill out an online form to obtain clearance to travel within europe's 26 nation id checkfree area. i am mark crumpton. my colleague paul allen has a look at the markets. good morning. paul: good morning, mark. let's take a look at the nsx, trading for 35 minutes so far. not too much happening in terms of gains. media stocks are doing ok. was out this morning with first-half earnings, $144 million there. bhp builders and the big miners holding its agm in brisbane. take a look at the other big mining stocks in australia, rio tinto in positive territory after a week start. and is after the energy
minerals chief alan davies -- this is in relation to payments of $10.5 million to a consultant in connection with securing of the development of an iron ore mine in guinea. nikkei futures expected to be flat as well. 52%d-quarter revenue rose to almost $6 billion and locally here in australia, watch the australian dollar. unemployment figures due out in a little under an hour's time, due to show a rise to 5.7%. more "bloomberg technology" next. ♪ emily: "bloomberg technology this is "bloomberg technology " -- this is "bloomberg tech."
thember, net neutrality is idea that internet service providers can't create fast and slow lanes for web traffic, putting companies like netflix at their mercy. the fcc pastorals in 2015 prohibiting this, but the election of donald trump has many industry watchers concerned that net neutrality could end up on the chopping block come 2017. while he did not have a clear policy on the issue, trump once tweeted in 2014, obama's attack on the internet is another top-down power grab. net neutrality is a fairness doctrine, will target conservative media. joining us to discuss what may happen to the idea under a trumpet ministration is larry downes, also with us from washington, our guest. you know this issue inside and out. the idea is that trump would eliminate net neutrality. what do you think it actually happen? >> i don't think that is what will happen.
in that tweet you mention, it was in response to president obama's announcement that he wanted the fcc to turn isp's and to public utilities. the ruling that will go. the net neutrality rules themselves aren't all that controversial. mayer congress or new fcc move them back to the federal trade commission, but i don't think they are going anywhere. emily: it remains basically business as usual. >> for net neutrality. not business as usual for this reclassification of isp's as utilities. emily: what will it mean for netflix? werene of these rules really being violated in the years before the fcc had rules in the first place has the federal trade commission was already on the job enforcing them. emily: r bloomberg intelligence analysts have outlined three possible ways that the policy could change. one, through the courts. to appointting trump
another supreme court justice through congress, limiting the fcc's ability or view a -- via a new trump appointed chair, the fcc would then change the rules themselves. what you think is the most likely path forward? >> you can count on the new fcc therman to start undoing legal claims of authority that underlay the two open internet orders we've seen. ite that happens, i think will by default kick the issue back to the federal trade commission, which is larry said could have addressed this issue starting about 10 years ago. that really forces democrats to decide, do they really want to take a legislative deal that republicans offered them last year? if they do, they may succeed in getting some version of the issue back to the federal communications commission, or they may get the federal trade
commission to have rulemaking power. i think larry is basically right, you will not see this issue change fundamentally. the 2010 rules were never really controversial at their core. industry if they had to would to aup today self-regulatory pledge that would be enforced by the federal trade commission. emily: there has been debate over the authority of the ftc in general, whether net neutrality or other issues. do you think that authority will again be questioned in a trumpet ministration? >> i think so. in 1996, did congress give the fcc any authority over broadband? that is what we have really been fighting about for the past 10 years. makeess may step in and this much clearer than they did. that was part of the bill that baron mentioned. that will definitely be a keystone of what the new fcc
will do. what did congress really mean, what is our limit? emily: when it comes to m&a, trump is indicated he's not a fan of the at&t-time warner measure. believes, no he one really knows. it's been a little confusing. there's been other analysis that trump could be good for m&a. sprint, t-mobile could merge in this era if they wanted to. had you think the trump fcc will weigh in on m&a issues? >> there's no way to tell. we have to wait to see who becomes chairman and who takes over antitrust at the department of justice. the people who actually follow these things are in general skeptical of the need for government intervention and are generally more willing to let deals go through, and if there issues, demonstrated harms
to consumers, to come up with conditions that would respond to those instead of blocking deals or using conditions just to regulate without going through the normal process, as the obama administration has done. i think probably we will see deals more likely to go through. it depends. if you saw a wildcard chairman come in that might follow through on what trump tweeted about, maybe things would be different. emily: silicon valley is an interesting position, having been so outspoken against donald trump. yet these are some of the most valuable companies in the world. internet association, which represents amazon, google, netflix sent a letter to trump urging him to keep the internet open and to keep it a level playing field. how do you see the relationship between trump and the tech industry playing out? do you think trump risks
alienating them even further, to their detriment, perhaps? >> i hope not. we don't really know. there was no real tech policy position from candidacy their way -- the way there was for secretary clinton. i think what we can hope for is that republicans are free trade, silicon valley likes things to be left unregulated, and hopefully those things will align and character differences will work themselves out. emily: one thing we do potentially know, if trump -- trump's stance on immigration, we don't know how that would impact things like the h1b visa, that is something -- tech companies very much rely on. there are a lot of skilled immigrant workers who work at technology companies in silicon valley. what from m&a, the fcc,
are the clues you are looking at based on what trump said so far about how he will approach the tech industry? >> it's anybody's guess. there seems to be a battle going on for trump's soul. on one hand you have the mike pence traditional republicans who are free trade and in favor of innovation and understand that high skilled immigration is what makes san francisco a the tech center work, and it's what brings talented, smart people to the united states. on the other hand, steve bannon has said things about there being too many asians in the united states, and maybe it's a problem for our civic society, we need to do something about immigration. it's really unclear. confident that we know what will happen. we are going to have to see how this transition shakes out and what happens right now in this
very tumultuous process. for people who were wondering when we will know something, historically, these major the tech sector and of happening pretty close to inauguration. c chairman was not named by obama until january 12 in 2009. wild, and issues like immigration, that's not an issue that will be determined by single appointment. that will play out in congress, and that could take a very long time. if i were concerned about that, i would wait and see how much the administration is willing to work with or even defer to republicans on the hill, because they get issues like immigration and they are the ones writing the agenda -- if they are the ones writing the agenda, it will turn out well. tech freedom president, also larry downes, longtime watcher of fcc action on net
neutrality. thank you so much for joining us. tomorrow we will pick up this conversation and much more on the concerns of u.s. tech giants. story we have been watching, microsoft offered concessions to european union regulators trying to smooth the way for the planned acquisition of linkedin. europe's competition regulators started casting an eye over the megamerger in october, investigating the business activities of the two firms to determine whether the proposed merger could be bad for competition. microsoft announced the $26.2 billion deal in june. coming up, what a trump presidency could mean for the price of an iphone. this is bloomberg. ♪
emily: president-elect donald trump campaigned on a promise to tax goods manufactured in china potentially as high as 45%, part of a plan he believes will reinvigorate the united states and manufacturing by bringing it stateside. when company this could have a major impact on his apple. a chinese state-run newspaper warned americans of countermeasures if trump launched a trade war, including a tit-for-tat approach. when it could mean for apple and other smart phone makers is a chief research officer at idc. how much would these tariffs impact apple and iphone users? >> if you look at how these tariffs would be levied, there would be negotiation, whether 45%, 20%, 15%. that would be on what we call the oem price, the original price of the products. it won't be the $800 or $900. for the sake of the argument,
let's say you get down to $35 or $40. in all likelihood, a company is cash positive generating what apple generates would likely eat that charge, and that would be one of their few options. another option would be to pass that along to the consumer or split that with carriers or two other channel partners it might be selling with. it definitely hurts the consumer. emily: would that be advisable given you have other smartphone makers out there right now making decent product for a lot cheaper? >> apple is kind of fighting a war on multiple fronts. they are the premium product, the premium ecosystem. there's also a huge ecosystem and android they're competing with. market, youe of the are seeing a lot of chinese and other offshore suppliers that are starting to move up and offer really premium products that mainstream price points, $299, getting you 4 gigabytes of
memory and 32 gigabytes of storage and premium battery experience and really strong products. those products aren't necessarily affected in the same way because those products -- those are not necessarily us-based manufacturers -- that becomes yet another problem for apple in this scenario. emily: and this happen, wouldn't it affect whether samsung or htc, wouldn't it affect everyone equally? >> it is a global industry for a reason. there is so much automation and semiconductor fabrication. you actually don't need that factory to be based offshore. the reason those are in asia is because all the others happen in asia and it's more cost-effective to have those factories close to the point of final manufacture. if you start saying, this company is a company i will tax,
that is downstream ramifications for all the parts. atul assembles the phones in china yet there are parts of the process happening in thailand, malaysia, philippines, south korea. how realistic is it to bring manufacturing or some part of the manufacturing process back to the u.s.? would be a relatively small number. what would have to happen is that there would have to be a huge investment in robotics and automation for that to happen in the united states. you start parsing words here. will dould say, we final software load, final flash memory load, we will lose the screen on in the u.s. and does that count as manufactured. emily: does that count? >> it depends where the lines get drawn. pc manufacturers have done some of that final configuration for years in the u.s. storage final
configuration and final software load in the united states. does that count as manufacturing? it's really final configuration, but it does employ people to do that. realistically, it's not going to be that many jobs. it would add cost to the supply chain. the semiconductor and screen factories and other electronics assembly factories in asia are not moving back anytime soon. emily: how many jobs? hundreds, thousands? >> that you could potentially add? it could be measured in low thousands. emily: crawford del pratt, chief research officer at idc. great to have you on the show. rubensteink's david show, david sits down with the alphabet executive chairman eric schmidt. they discuss cyber security risks from russia. >> do you think the united states government is better at cyber terrorism than other governments are against us? >> when i worry about the most
about right now is actually russia. if you look at their actions in the last few months, they've done a number of very publicized invasions of tax and alterations which can only be understood as they are not, and shy about it. they don't mind people knowing about it. this must be part of their strategy to keep in our face. emily: watch david rubenstein's full conversation with the alphabet executive chairman 8:00 p.m. eastern on bloomberg television. more of "bloomberg tech" next. ♪
its business here. how well is that going? well, it's a pretty interesting quarter. the company boosted revenues more than 50%. i almost any standard that would be considered strong growth. at the same time it is investing heavily in these new ventures, and that's the reason you saw net income rise a few notches more slowly than that. the company is a dominant player in messaging services through wechat and qq. investing more aggressively into cloud services and new kinds of games and media content, into online payment systems too. it has a bunch of new initiatives it's trying to invest in and expand in. and also get out ahead of a slowing chinese economy. emily: messaging services, wechat, qq, have been essential to tencent's growth. what are some of the trends they are seeing there, any signs of slowing growth?
>> wechat has about 840 million users. that's about twice as many as twitter. it's the most popular messaging service within china. tencent also has the qq messaging services. growth is slowing a bit because they've now been adopted by almost the whole population. tencent is now focused on trying selling morehose more. advertising through those mediums as they offer new services. ande also marketing games other digital goods through them. they are popular channels for ourselves -- all sorts of promotions. emily: bloomberg has reported that a trump presidency would have an outsize impact on alibaba, of all the chinese tech giants. what might it mean for tencent? is probably more of an issue for alibaba at this point. business is almost
entirely in china. it has ambitions to move beyond china. it recently bought a super cell. it is selling some of these games globally, but at this point it's been mostly focused on china. it would sort of depend on how it executes that expansion. usly: peter alstom joining from tokyo. a story now that is trending, some controversial comments from was in a's closest advisers are resurfacing. "the washington post" highlighted an interview between trump and steve bannon last year. the two men talked about foreign-born employees in the united states, specifically in tech. bannon said when 2/3 or 3/4 of the ceo's are from asia or south asia --
♪ >> from our studios in new york city, this is charlie rose. evening we begin this with a look into president-elect's donald trump transition team, and his appointment of steve bannon. bannon is executive chairman of breitbart news, which he describes as the platform of the alt-right. the pic has drawn criticism. ump promises to unite a deeply divided country. joining me now is ken stern. he profiled bannon