tv Bloomberg Technology Bloomberg November 24, 2016 12:00am-1:01am EST
>> is what rpm here in hong kong there i am haidi lun with an update on the top story. asian currencies are at seven-year lows against the u.s. dollar. the philippine peso has fallen --t his due to the dollar past 50 to the dollar for the first time in a decade. indian officials have come out that the r.b.i. needs to take action to deal with the declines in the ruby. -- rupee. the you and also under pressure trying to fix for the first time since june 2008 after the dollar
index rose to its highest in 13 years. a bloomberg gauge of dollar strength rose to an all-time high. the widening spread the trade offshore and onshore shows that rising debt liquidity on the depreciation good. widespread rages on a weight height -- a rate hike next month. fed missed before the u.s. and selection, but uncertainty over donald trump's policies have not tightened expectations of a hike in september. -- in december. this is bloomberg. a quick look at the markets heard we do have a mixed picture here in asia. ♪
>> i am emily chang and this is bloomberg technology. seven years after getting kicked out of china, facebook reportedly has a way to get back in. we will dig into the social networks plan to reach his largest untapped market. after a bitter election, and americans are ready for some retail with black friday kicking off in two days. you will find out the top holiday trends in tech. the most packable gifts under the christmas tree this season. mcafee posses -- mcafee's list of most at risk. remember, trying to block -- china blocked facebook in 2009, it is not certainly social network could return to the nation given licensing restrictions and other
regulations that regulations that favor locally owned companies. facebook has said it's interested in china but hasn't made any decision on its approach and declined to comment on the times report. here with me is the chief analyst at technology research and from hong kong, are -- our bloomberg news reporter lulu chen. facebook is saying it is struggling with how to deal with fake news and yet there seems to be a possibility they can use their technology or products to censor out news that people don't want to see and china. >> the irony is incredible. that is the big question here. obviously they have the tools to deal with some of these issues. the question is how they deploy some of these technologies. some of the issues are technological algorithms. some of them are people based. it's more of a philosophy decision that they have to make, what are they willing to do, what are they not willing to do. in china and the u.s., you have to imagine these topics are very much related. whatever technologies they develop or what could be deployed in the slightly different way for the other. emily: how do you think the
technical challenge here might be different? on the one hand you are trying to filter out inaccurate or misleading news that there may even be a gray area there. on the other hand, perhaps you can plug in some terms that the chinese government doesn't want people to see, things like human rights. things also can pop up there that they don't expect and they would need to have real-time monitoring. it's really that different a challenge. >> i don't know that it is. one of the issues more philosophical is deciding in both cases perhaps that there is a list of approved major news vendors that they are primarily going to promote and more secondary news or whatever kind of sites they are don't get the same treatment. in a strange way, you can imagine a similar kind of philosophy, a more strict version of that in china. even in the u.s. you can say, let's stick with the primary news organizations that proved they are willing to do factual stories for the primary news feed and maybe have a secondary news feed with alternative
sources. who knows? that may not be the most popular idea but it may be practical. emily: lulu, the chinese tech landscape is littered with u.s. companies that tried and failed, from google to twitter, linkedin has been somewhat successful with a joint venture in china. how companies have been able to succeed in censoring information. >> linkedin is one company that facebook can look to. this is a company that so far has managed to stay in the country operating and not getting blocked like google and twitter. they do combined censorship by algorithms and human reviewers, and they censor both english and local language in chinese. you might be wondering whether censorship is enough for facebook to get back into china. yesterday when we spoke with our sources, the short answer was no. censorship is a prerequisite
but it's not a guarantee. for facebook to get back into china, they will need to grapple with a series of issues as well, including the new cyber security laws that passed last month. emily: i was working in china in 2009 when facebook was blocked and at the time, i had a number of chinese friends who were on facebook but now after seven years, other services brought it -- sprouted up. is there a real demand in china for facebook? >> facebook will be facing in uphill battle. you already have tencent offering wiichat. that has more than 800 million monthly active users to -- users. they do provide a service that is similar to facebook on their moments function, and also today we have hundreds of live streaming apps. young people in china these days are really looking for instant gratification where they actually can send out messages to their followers and get instant feedback, likes, virtual
gifts. if facebook were to come to china, they will be facing company giants like tencent and the hundreds of other live streaming companies. it will be an uphill battle. emily: rules and regulations need to be followed in every country, but it's hard to see how this wouldn't open the floodgates if it were to be done. >> part of the issue is from facebook's perspective, they could make the argument initially, let's get our opportunity to work with chinese companies who want to advertise in the u.s. that's a way in, without getting into the content side, where they can start to do business. then we move into the content side. i agree. as lulu said, and you mentioned as well, it's difficult for u.s. companies to come there. more and more we see these nationalistic desires in every country to want to use their own services, their own capabilities. i think you would have the same
problem in china. facebook does want to figure out a way to work with those chinese companies. emily: mark zuckerberg has been working on his chinese. i hear he's pretty good now. rob o'donnell, you are sticking with me. lulu, thank you for that update. staying with u.s. tech in china, airbnb is said to be in talks to buy one of his chinese rivals. the company, this according to people familiar with the matter, this is the company has struggled to crack the chinese market. our bloomberg tech reporter has been working on this story and she joins us now from the newsroom. olivia, talk to us about where things stand right now. >> as you just described, china is an incredibly difficult market to penetrate. go to beijing, hong kong, it's a graveyard of failed silicon valley companies. airbnb knows this and recognizes this. it sees xiaozhu as a chance to
get into this market. it has been there since 2012, it has large following, at his work through regulation issues. inis a growing company china, and is a great foundation for airbnb to build from. emily: uber the latest u.s. tech company to give up in china, that you could debate whether what they ended up with was really all that bad. airbnb had said a year and a half ago that they would hire a china-based ceo. that has not happened yet. i asked about airbnb's chances of succeeding there. take a listen to what he had to say. >> looking for a chinese ceo is a smart move it that is something uber never did. emily: what do you think the odds are of airbnb succeeding in china? >> if airbnb -- if you're asking how likely will they become an apple level of success in china, i would say zero. emily: what about less than apple?
like an airbnb level of success in the u.s.? >> that's also zero. emily: zero? airbnb is still trying, though they have not hired that china ceo, olivia. >> they haven't. i don't know if i really think their chances are that low. i first want to say, china is growing, the middle class is growing at an incredible rate. there are 400 million more millennials in china than in the u.s. these are people who, many of them are passport holders, they speak more than one language, and they are eager to travel. what airbnb is more focused on is the outbound traveler. to answer about the ceo, i think this is consistent with the company. they tend to really take their time in hiring. the ceo, many people have called him a perfectionist. i met with one of their
investors yesterday and he explained to me that he is being advised to actually wait, and he feels it's better to hire the right person rather than put somebody in that role that may be could also bring in other people that aren't right for the job. i don't know if it necessarily means that something is wrong there. it's more consistent with chesky's approach to hiring and philosophy around management. emily: airbnb has a couple rivals in china. how do they compare in size and why is xiaozhu so interesting for them? >> xiaozhu is more interesting because the occupancy rates are much higher. one claims to have 800,000 listings. but very low occupancy rates, we are finding. i think airbnb once a company
-- wants a company that has perhaps less listings, but listings that are more similar to those that airbnb prides itself on, perhaps ones that offer a real home experience as opposed to an empty, vacant building that is being developed as a condo purchase building. emily: i know you will keep us posted on the details. olivia zaleski, our tech reporter. thanks so much. a story we are watching out of the u.k., where the tech sector is still concerned about a lack of skilled workers following the country's exit from the european union. in its budget statement, the government outlined a big burst in funds to spur the tech sector. chancellor of the exchequer philip hammond confirmed the u.k. government would invest an additional 2 billion pounds into tech research and development by 2020. >> i'm doubling u.k. export finance capacity to make it easier for british businesses to export. i am funding charlie mayfield's business led initiative to boost management skills across british businesses, and i'm
taking a first step to tackle the long-standing problem of our fastest growing startup tech firms being snapped up by bigger companies rather than growing to scale. emily: in a speech, hammond announced a one billion pound investment in bringing high-speed fiber-optic rock band -- broadband to 2 million british homes. coming up, apple has been pushed take as of the companies the time is five for margaret. -- take the chinese smartphone market. we will break down how the world's most powerful company is missing the mark, next. this is bloomberg. ♪
the chinese smartphone market, allowing local oppo and vivo to take the top spots. oppo and vivo phones now count for one out of every three smart phones sold in the country in the third quarter. the iphone's market share is at 7%. its lowest in almost three years. can apple reclaim lost ground? joining me is bloomberg's alex webb. alex, how did oppo and vivo come from behind? >> clearly there are number of factors, but there are two that rank above the others. there cheaper. they had been very smart at building out their sales networks outside of the main metropolis. the chinese hinterland so to speak. and offering a good cut to those local retailers, incentivizing them to give great placement to their products. emily: they are even squeezing out xiaomi.
using the product is pretty good. >> they are pretty good. what you have with the chinese smartphone market in general is saturation in the big cities, where apple did a lot of success, and now people in the center of the country getting some of their first smartphones and realizing these are the kinds of phones i can afford. you have nice displays, nice technology, very good cameras, all driven by the mediatech chips, a taiwanese chip supplier, and that's enabling all these companies to deliver a very nice product at a price point these people are willing to pay. emily: what does it mean for apple? >> i think it is going to be tough for them. they are never going to get a big portion of the market that oppo and vivo are going for it. those people are not interested in apple is a brand. they're not willing to spend that kind of money. let's not forget, we don't have the stickiness of apples services in china that we have in some of the other markets. the bottom line is, it's going to be very tough for apple. they will have to count on urban dwellers in the big cities doing
the upgrades. emily: so, apple -- they are coming out with another phone in 2017, the 10th anniversary edition. it might be a bigger design overhaul, perhaps. could that change things? >> it certainly could encourage the customers they have to upgrade, to buy this new handset. it can retain its existing market share, perhaps. the thing that is difficult is going into these lower luxury customers. apple doesn't have the sales networks. it's hard and expensive to build this stuff out. emily: in the next year this time, what will we be talking about? is it anyone's game? >> you are going to see these chinese brands get stronger. this notion of more nationalistic focus in china around china brand is going to be a big deal.
we will see a new iphone. i think it will be interesting, but it is so hard because the expectations are getting higher and higher and higher. i'm not sure they will be able to deliver up to it. i've seen ideas of phones they could theoretically do that would be amazing. i just don't think they can do it by next year. >> that's one point we have to make, give apple some credit rating they are doing a lot better than samsung. samsung really fell off a cliff. having been a dominant player three years ago. emily: the recall did not help, i'm sure. >> exactly. apple is doing worse than before but not half as bad as samsung is. emily: coming up, we will discuss why trump's stance on legal immigration has some in silicon valley bracing for the worst. more on that story. this is bloomberg. ♪
emily: in the lake of the -- wake of the election, concerns about president-elect donald trump's immigration policies are weighing heavily on the tech industry, which relies heavily on high skilled foreign labor thanks to h-1b visas. trump has flip-flopped on the issue, recently saying h-1b's don't count. he says it is meant to replace u.s. jobs and he would end it forever. joining me now is the cofounder and ceo of shift, an online marketplace for buying and selling cars, who recently wrote an op-ed for "the hill" on his personal experience emigrating to the united states, entitled "making the american dream great again." share your story. your green card application was rejected. the labor department did not believe your company actually existed, and you had to leave
your company to get your right. >> my previous company, tax magic -- i had been in the u.s. at that point for almost 15 years. the labor department said, you own too much equity, so you have to decide who gets hired and who doesn't. we can't qualify you for a green card. i had a choice where i could apply again and try to prove that they should give it to me or not, or go to a bigger company where i could get a green card. i ended up at google, who handles this stuff very well, and i was able to get my green card. hearing them. -- here i am. emily: and yet, even under the obama administration, your case was handled, it was a challenge. how do you think your case will be handled under a trump administration? >> probably not very well, i would suspect. obama has done some interesting
things for entrepreneurs in the last few years. now you can have a different kind of visa if you are an entrepreneur. that is really helpful. i guess that will go away under the trump administration because that was a regulatory decision. that was not a law. h-1b visa is a huge issue. if you don't have h-1b's, that will really hurt tech companies who won't be able to hire. we probably have at least 10 people at shift on h-1b's. emily: how many people? >> seven people could that's a large percentage and that is labor we really badly need for our team to be successful. often you have people you can't higher in the u.s.. emily: the critics, including trump, jeff sessions, the president-elect choice for attorney general, he has said thousands of u.s. workers are being replaced by foreign labor. you do have some examples that have been pointed out at disney, southern california edison, of this type of visa potentially being abused.
what do you say to the people who are very fearful? >> first they should distinguish between tech, like a startup like shift or google or microsoft, from outsource companies in india that also bring foreign workers to actually do outsourcing of labor. those are two very different things and i don't think we should put them all in one bucket. secondly, i think you should also segment this what types of jobs we are talking about. for engineers, there's not an engineer that google would qualify that they would not hire. whether they are foreign or american. we shouldn't worry about those types of jobs. there are probably other jobs we need to worry about a little bit further, but for the jobs we talk about here in silicon valley, they are not in any way an issue. we have a labor shortage, not a job shortage. emily: an illegal immigrants, our current -- people living currently, considering coming to
the united states, rethinking their plans? are they considering going to canada or europe or places where they believe -- i'm talking about high-tech labor. >> that is a serious issue. in silicon valley, we succeed when we have foreigners working with americans and building great companies. something like half the companies that are worth $1 billion or more that are startups, was cofounded by a foreign person. very clearly this is an additive thing for the united states. the campaign was super negative. i think it made a lot of people uncomfortable. it would be awesome if we could try to move away from that and make people feel very welcome in the u.s. we as ceo's, tech leaders, can do a lot to make that happen. at shift we are always very open to immigrants and we have always been supportive and we will continue to be no matter what the government says, but it would be great if all the other ceo's were as loud on this as i am right emily: the cofounder
>> it is 1:30 p.m. here in hong kong. i'm haidi lun with update on the current stories. asian currencies are at a seven year low against the dollar. the philippine peso has fallen past 50 for the first time this decade during the r.b.i. could group that could intervene with the rupee at an all-time low. isrces say the credit sweep courting investment from a group of institutions for $2 billion to buy a hedge fund. it is said to be eyeing a minority stake in government money managers.
they determined is from using their own money to trade. exports.g weak they economy will probably avoid a recession. the annual expansion of one to 1.5% the previous month. they had projected a 4.1% cotton. over resources is paying $1 billion on a stake in a rival developer to expand into cities. billion shares of china enterprise, about 21% of the company. they gives them resources to land parcels in shanghai and cities around the financial hub. this is bloomberg. let's look at how things are faring on the asian-pacific markets. to have been mixed so far. >> japan certainly is the
front-runner today. the nikkei coming back from a public holiday up by 1%. we just have half hour straight to go. those indices in bull market territory. showing a little signs of overboard on the technical there. new zealand closes session higher by half of 1%. you're saying that dollar strength play into the currencies way got a lot of the emerging markets as well. malaysia feeling pressure as well. in hong kong, the hang seng is down. also, the insurance stocks have been on quite a solid run over the last couple of weeks. 1%,ghai is high by 4/10 of still holding onto the 10 month high on the benchmark time index. we are seeing some weakness come through from korea in late trade.
that solid support coming through from the nikkei is helping to lift the overall region for another session. that is the state of play in asian markets. we will be live from london at the top of the hour. this is bloomberg. ♪ >> you're watching "bloomberg technology." i'm emily chang. the holiday shopping season is here and retailers are expecting the crucial fourth-quarter will be strong. adobe predicting black friday sales will jump 11% from last year. from game boys to vcr's, tech items have been at the top of consumer wish lists for decades. here to explain the land shape for shoppers this year is the chief economist at the consumer technology association. also stole the studio, bob o'donnell. so, cyber monday is actually expected to be the biggest shopping day in history. what are some of the most surprising trends you're seeing?
>> online shopping and the shift to online continues to be a major force in what is happening this week, and still he obviously into monday. -- spilling obviously into monday. we expect mobile to we up nearly -- be up nearly 50% over last year. we have tremendous growth in that segment of shopping this week, and obviously into cyber monday. emily: throughout the week, when is the best time to shop, when is the best time to get the best deals, and where our people -- our people seeing them? is it social media? good old-fashioned email? >> the way black friday is executed has evolved and changed over the years. historically it was just the day after thanksgiving, the day after the u.s. takes giving, very u.s. centric holiday. but it has bled into the days that are adjacent and expanded throughout the whole week. it's not just a u.s. holiday anymore.
we are seeing it drive traffic across the globe as people search for black friday deals everywhere the deals are to be had. we see people turning to online starting tonight, headed into tomorrow. after they hit the stores on friday and saturday, you see them going back online, looking for deals. you see a number of retailers doing flash deals, and those of already been going on for the last week or so. there will be timed temporary deals. consumers will go out and take it vantage of those. there really is no longer a small finite time to look for deals. the best advice is to find a deal you want, the product you're looking for, and grab it when the price is right. emily: i have a turkey to cook, so i think i will have to wait until friday. how about you? >> i never was a big fan of having to go shopping on thanksgiving day. it seems sacrilegious. in terms of the products people will be looking for, that will
be interesting to consider from a tech perspective. it seems like we are seeing a couple of interesting trends in that regard. some older things we haven't thought about are coming back. not only is there retro tech like the little nintendo mini consul, super hot -- my kids are interested in turntables. record players are a big deal in college now. it is kind of a cool thing. people are looking at tvs and pc's. we will see some vr and drones and things like that, but some of the good old bread and butter things may actually do reasonably well this friday. emily: tvs are still one of the most popular product that people by this time of year. what else? >> you see televisions, smart phones, computers all topping the list. last week we published our pre-black friday shopping list, what people are most likely to buy this week, and those drove the top three pick you see a
number of emerging category showing up on top 10. things like wearables continue to be very strong. while still nascent, virtual reality is starting to percolate. there's a lot of things happening. you look back at the holiday research we published in september, you saw things like smart home technology starting to grow. today about 50% of households -- 15% of households have smart home technology, nearly 1/4 of those who plan to buy texas -- tech this holiday plan to buy some product in that smart home area. you see strong growth there as well. emily: i've heard an ad for a smart doorbell about 25,000 times in the last week. what about these smart home items, whether it's a doorbell or a vacuum? >> there are very interesting developments in smart home. the problem is that getting all these pieces to work together is
proving to be a lot harder than people initially thought. the initial excitement around smart home has come down a bit. i know you will do a story on the most insecure items. unfortunately, a lot of the smart home items are likely to fall on that list because there's been a real problem around security around smart home, which ironically is where the -- the place where you want the strongest security. sonos and audio systems that play through your house or -- are interesting. some of these things are interesting. more and more the smart home thing is moving to service providers like at&t to provide the smart home service as opposed to do-it-yourself kind of project. emily: we will talk more about those vulnerabilities later in the show. it's interesting that there seems to be no impact from the surprise election results. >> we relieved our sentiment indicators for november. on tuesday, you had other consumer confidence indexes come out today. all moved significantly higher in november. a piece of that is just clearing
out some of the uncertainty into -- induced by the election. obviously the election results have caused new uncertainties and we have heard things from chairman yellen or the vice chair of the federal reserve, chairman stanley. broadly, you see some of that uncertainty clearing out. consumers also shifting towards the holiday season. elections tend to crowd out advertising because they bid up the price of advertising, especially in the final weeks before the election. when that ended, you saw traditional advertising come back into the picture. we saw a number of retailers release their black friday circulars early, in the days immediately following the elections, but still obviously 2 weeks ahead of black friday to get consumers started. it looks like in most instances, consumers were in fact ready to put the election behind them and start thinking about the holiday season and get ready for the
weeks ahead. emily: black friday has been such a u.s. focused holiday. other countries like china have adopted another version of it. can black friday go global? >> i have my doubts. the idea of regional days focused around shopping, when it's a big part of people's lives, is perfectly valid. singles day is a great example. black friday is so tied to thanksgiving, which is so uniquely u.s. there have been efforts to bring it other places. i think that's challenging, and there are better ways to focus on things that make sense for each region. in the end, that is probably what will play out. emily: my shopping starts friday. bob o'donnell thank you so much , for stopping by. sean thank you for joining us as , well. a story we're watching, since
the u.s. presidential election, tech stocks took a leg lower, including amazon. the stock off its highs of the year. still up 50% year-to-date. amazon shares have been trading at an attractive price at the moment. take a listen. >> amazon is going to have an outstanding holiday season because they continue to garner additional market share in retailing. the stock pulled back during the vicious rotation in the direction of cyclicals out of countercyclicals, and investors had a bit of a buying opportunity. we covered a bit since the 14th, but it is not and it's high. it is at 17 times next year's -- that is, i think, a very attractive price for amazon.com.
emily: and, bloomberg tv will be broadcasting from around the globe on thanksgiving day. the ecb vice president will be joining bloomberg surveillance to react to the group's financial stability report. today in 5:00 a.m. eastern on thursday. up next, we will break down the most hackable holiday gifts this year. intel security experts tell us what to do to protect your gadgets from cyber criminals. this is bloomberg. ♪
>> cyber security is not usually top of the mind on black friday. with more connected devices on the market than ever before, perhaps it should be. mcafee is out with a new report showing that less than half of consumers take proper precautions to secure their holiday gifts. many don't even know what they
should be doing. mcafee says a most hackable gift categories this year are the obvious ones, like laptops, smartphones, connected home devices and drones. bruce snow is intel's head of security and privacy. he joins us from intel's plano, texas hub. sum up, what are we supposed to do? what are we supposed to buy and how are we supposed to secure it? >> one of these things is, you buy a nice new gadget. it's a shiny object that will make your life easier. unfortunately people don't really think about the security ramifications that go into it. pc's are always a big holiday item, but they are one of the easiest to hack. there is a lot of things you can do as you go and buy a new device, including making sure you have updated the software on it. there's a lot of things you can do to secure that device, but you have to know there is something to do.
emily: some of the things you talk about being particularly vulnerable, media players. i assume you mean things like apple tv, roku, play stations. why would somebody want to hack those devices? >> we always think about the home network as a safe haven. you don't necessarily think there is a hacker running around on your home network, but if you have a device that you trust like your roku or playstation or xbox, you don't necessarily think that it's been hacked and is potentially listening in on all the transactions and data going across your network. we really need to make sure we're protecting the safety haven we build for ourselves. emily: same thing with drones. as far as christmas gifts go, we're talking mostly recreational drones. are drones really that vulnerable? >> drones are interesting because they are really built for speed and to be light and easy to operate.
but a lot of times these drones ship without any sort of security measures put in place . a number of drones will ship with open ports you can use to log into remotely. there's a lot of inherent vulnerability that exist in these drones that people could use to take over the drone, or basically destroy it. you can imagine, it's the modern equivalent of get off my lawn. maybe somebody could set up a kind of a bubble where any drone that flies near their house gets instantly hacked and drops out of the sky. these are the sort of things you can do when you don't have a device properly secured. emily: what about kids' gifts? what kind of kids gifts are most vulnerable? >> a lot of kids typically will get either a tablet or a new laptop, and we've seen a lot of malware increase for both of those devices. i think pc malware increased about 100% over the last year.
mac malware has increased dramatically. there's always been this kind of urban myth of macs don't get viruses. in the last year we saw 525% increase in malware targeting the mac operating system. emily: to stay away from this, is it as simple as not buying anything connected to the internet, or is that extreme? >> i think we are going to hit a point where you can't buy anything that's not connected to the internet. so many things rely on the internet or the cloud to do a lot of the back-end processing that makes the device lighter weight and cheaper and easier to use. disconnecting is not really going to be an option. we have to make sure that manufacturers ship with proper security, but then we also have to get people to start thinking about making sure the devices are secure. we think about, if you get a car
or some sort of large appliance, there's regular maintenance you have to do on those devices. but people don't necessarily think about that when you buy a pc or drone or smart webcam or something like that. it's kind of a shift that will have to take place in the general consumer population of thinking about security is one of those things you have to keep up to date. emily: there you have it. happy holidays, everybody. bruce snell of intel security. thanks so much. a story we're following now, a group of prominent computer scientists is urging hillary clinton's campaign to call for a recount of votes in 3 swing states. the group believes they found evidence that the results in washington, michigan, and pennsylvania may have been manipulated or hacked, and they presented their findings to top clinton aides last week. they found the clinton received 7% fewer votes in wisconsin counties that relied on electronic voting machines compared to other counties that
used ballot papers, for example. one of those experts has taken to medium to set the record straight. he writes, were this year's deviations from pre-election polls the result of a cyber attack? probably not. i believe the most likely explanation is that the polls were systematically wrong. the only way to know whether a cyber attack changed the result is to closely examine the physical evidence -- paper ballots and voting equipment. the official vote count is still underway but clinton's lead in the popular vote has risen to more than 2 million. green party candidate jill stein's campaign says it is planning to file for a recount in michigan, pennsylvania, and wisconsin, and is raising money to do so. the david rubenstein show explores the choices of most influential people.
david rubenstein travels the country talking to leaders to uncover their stories and their path to success. this week's episode, the pepsico ceo. >> not long ago, an activist showed up. the activists said, maybe you should spin off your frito-lay business, your snack business. what was your response and how did you keep the activists for -- pretty happy? >> my job is not to keep an activist happy. my job is to make sure the company is managed for the next generation and is performing very well. if the activist is happy in the process, so be it. i am an internal activist. i own 33 times my salary in pepsico stock. my entire net worth is in this company. emily: indra nooyi there, chairman and ceo of pepsico, also weighed in on the present question of work life balance. >> is it possible for anybody, certainly a woman in our society, to have it all? >> i think if you have the right
support system, if you have an understanding spouse, if you want to be married. if you are willing to make all the trade-offs that you need to make, you can have it all. but while you do all that, there will be heartache, there will be pain, there will be some collateral damage underneath the surface. you've got to live with it. emily: a reminder, catch the david rubenstein show featuring indra nooyi tonight right here at 80 5 p.m. eastern -- 8:00 p.m. on bloomberg television. coming up, we take a look at new innovation lanes at 3 u.s. airports and break down what some airlines are doing to create new bag technology. this is bloomberg. ♪
job tuesday protesting alleged staffing shortages and more than two dozen flights were canceled. the return comes on the eve of one of the biggest online -- busiest online shopping periods, from thanks giving to cyber money. on to consumer travel, in the u.s. the holiday season is upon us. for many, that means bracing for long airport security lines, hoping your luggage arrives when and where you do. but thanks to some tech innovations, this year's journey could be smooth sailing. >> there is nothing worse than being at an airport, when a to -- wanting to do this, when all you see is this or this. three major airports in the united states, in collaboration with delta, united, and american airlines, have installed so-called innovation lanes just in time for the holidays. the new lanes enable up to five people to load their individual bins simultaneously and moved through security more quickly, thanks to a parallel conveyor system that automatically returns empty bins to the front of the queue.
the designers hope is to cut passenger wait times by 30%. in the meantime, alaska airlines has been testing a new system to combat lost luggage. it involves reusable electronic bag tags, complete with screens powered by bluetooth. delta is investing in radio frequency identification to improve real-time tracking of its luggage. scanners use radio waves to capture data stored on an rfid chip embedded in the luggage tag. passengers can track their bags via the delta app. but all this new technology can't promise you a flawless experience. computer glitches can still ground airlines like they did earlier this year. not to mention, mother nature. emily: one more fact to know, according to aaa, more americans will hit the highways or travel by air or train over the thanksgiving holiday, at the highest level since 2007. that does it for "bloomberg technology." all episodes of the show now
yousef: gogo greenback. the dollar surge continues. u.k.'s chancellor sets out a summer framework for host exit britain, conservative mps attacked the fiscal watchdog saying that the eu leaving will cost 60 billion pounds. cut confusion. iraq's prime minister says the country will scale back oil production as part of the broader opec supply deal.