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tv   Bloomberg Technology  Bloomberg  December 8, 2016 12:00am-1:01am EST

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1:00 here in hong kong, your top stories. china exports rebounded in november. demand holding up with the weaker you one boosting competitiveness, helping to step a seven-month losing streak. imports also rising, trade shortage -- japan unexpectedly cut its rating of third-quarter growth winning lower.2%, capital spending. meanwhile the government -- new calculations. breakthrough trading, $53 to
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whether opec will be able to influence cuts. traders fear the cartel me to be able to persuade action. the worst year since 2013 -- collateral damage. global news 24 hours a day powered by more than 22 center journalists and analysts in more than 126 countries, this is bloomberg. a cycle of the markets, afternoon trading getting underway in hong kong and shanghai, you are seeing shares higher after the positive surprise to the option i for china -- tokyo and the rest of the region, as well -- also seeing gains across the region. this is bloomberg. ♪ >> this is blueberry technology.
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coming up, at&t and time warner grilled on capitol hill over the proposed merger, we put the megadeal under its microscope. plus the unicorn that sword. -- soared. australia's hottest tech company one year after it went public. so much for burning the midnight oil. the key to ultimate success is sleep. arianna huffington joins us to discuss her latest venture, and the rise of think news. u.s. stock benchmarks jumped the most in a month. cory johnson for the takaway. apple and google performing well today. what made today different? >> i think you see some stocks
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left out. i believe it has been a month since election. it has been an interesting month. the results of these stocks has been blamed a lot on the focus of the trump administration and the notion that maybe there were some excuses that trump would take a hard line on amazon with taxes, as if the irs was not already doing that. the performance of the market today was spectacular. if you look at amazon, netflix, facebook, google leading up into november, and then underperforming in the month since the election, i think one of the reasons you see that versus the s&p 500 might actually be the emergence of the snapchat ipo. the kind of tech investors who put a lot of money into a new hot ipo are sort of getting some capital together, selling the other stocks so they have ammunition to buy snapchat. emily: interesting.
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what about biotech? >> i think there is a notion that there may be more focus on pricing. they will be able to get things done that were not possible in the last administration. whether they can do anything about it is a whole other question. emily: thank you for that update. u.s. lawmakers grilled the at&t and time warner ceos about their proposed tire. the company plans to create a telecom and media empire that will own much of the programming it provides to subscribers, who provides wireless internet and paid tv services. mark cuban testified the merger is the best way to compete against tech giants like apple, google, and amazon. lawmakers are not convinced. they close the hearing by saying that they want the doj and the fcc to approve the deal.
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>> there is a difference that you have to meet, whether it is fcc or doj. it requires that it directly benefits consumers. i would think that the message you are sending to us and the current and potential at&t consumers, if you cannot confidently assert that this deal benefits the american public, it is not a great message. emily: joining me from new york and d.c. thank you for joining us. interestingly, lawmakers were a touch less skeptical that they
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were initially, especially given what this might mean for additional competition for big tech. what were your takeaways? >> i think that last particular soundbite by senator franken is the entire thing in a nutshell. if the fcc does not get jurisdiction on this particular merger -- and it may not, because of time warner is able to sell away its license or put them in trust or somehow get the fcc license out of the equation here -- that the department of justice is probably going to have a very difficult time blocking this merger. the fcc is what blocked the comcast time warner cable merger by going exactly to what senator franken said. because that merger had to pass a public benefits standard, doing no harm was not enough. the fcc decided they were going to kick that deal toward an administrative hearing.
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if the fcc does not have jurisdiction over this -- and clearly that is what at&t and time warner actually believe -- then the fcc may not get involved in this at all. i think this deal has a high likelihood of going through. emily: mark cuban made a point that is getting a lot of attention about what it means for facebook, apple, google. take a listen to what he had to say. >> they are five of the seven most valuable companies, and all have established dominant positions. that is exactly why the time warner acquisition for at&t is it an important strategic acquisition. alone, it will be difficult if not impossible for either to compete with the companies i mentioned. together it will still be difficult, but they will have a chance to battle the dominant players and increase consumer choice. emily: would you echo that in terms of fallout? >> with respect, i would
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disagree with mr. cuban. the reality is that the video content that is available on facebook or on any of the other platforms that he mentioned does not compete. with the linear programming that is available from the time when -- time warner cable media empire. it is a case of apples and oranges. if you look at this merger for what it is, it is a concentration of too much market power in the hands of one firm with a questionable track record. we see no reason to approve this merger. we think it raises tremendous questions about competition, particularly the over-the-top video marketplace. if ever a merger should be with the fcc, it is this one. it touches broadband, it touches wireless, and touches broadcast satellite. it is every reason for the fcc to look at this. >> if you use mark cuban's logic there, i think any media merger
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outside of those two companies that he mentioned would be ok. he seems to be paving the way by saying that facebook and google are dominating this industry. pick any two companies and put them together, they are still not going to be dominant right now as those two companies. you have to imagine regulators will not buy into that extreme degree of logic while looking at this merger. emily: there is a question of whether this merger is approved it could lead to a new sort of industry of tech media and telecom players. there is a possibility at -- that they could avoid as -- fcc scrutiny. one of the implications if that happens? >> i think the implications are pretty stark. if firms are allowed to use shell companies and play games
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to skirt public interest review, and a world that is a free-for-all, there will be no rules of the road. companies will be able to do whatever they can and get away with whatever they can to the detriment of the public interest. clearly, this merger raises serious questions about the future of innovation in the country and the future of competition and the availability of broadband. emily: we will keep our eye on it. director of common cause media and democracy association. alex sherman, thank you both. staying with new media, apple is said to be pressing hollywood studios for factor axis did movies -- faster access to movies. they have all confirmed over the past week that they are looking to offer high-priced home movie rentals shortly after they open
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in theaters. some theaters are considering deals with apple's itunes as an option. shares of major movie theater chains fell on this report. tech ipos have a hard year, but some say the market is primed for a comeback. we will speak to the resident of a company. this is bloomberg. ♪
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emily: fitbit has acquired software assets from a struggling smart watch startup. the deal is mainly about hiring the software engineers and getting intellectual property. fitbit did not disclose the terms, but the price was $40 million and other obligations exceed that. they made waves less year after charging a successful tech ipo
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when other unicorns did not take the plunge. it turned heads is one of the few tech companies that had profitability before going public, even without hiring a sales staff. i will start with you. lesson learned since going public. what are your takeaways? >> go public when you're ready. we are nationally proud of the business we have built over 14 years. we had 10 years of profitability. i think we had sound fundamentals. that was well received in the market when it went public. companies are considering taking that step, be ready. emily: alex, one of the worst years for tech ipos since the recession. what are investors saying to you about what to look for in 2017 and what the market will look like? >> frankly, people are waiting for another company that does look like at atlassian.
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they're looking to go next year. they will not make up the majority of number of companies that will actually go out. a lot of the enterprise world companies that sell to businesses, those are ones that are going to be paying attention to. after this rocky year, investors have been saying we want more than just revenue growth, we want profitability as well. we are more willing to take a bet on the evaluations that the companies want to see. those are going to be a lot of the factors that play into 2017. frankly, for the whole funding environment, private and public, we really need to see a good year. investors need to know they can make money getting into these cut -- these companies pre-or post-ipo. emily: your company was
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profitable for three years before public, which is unusual in that we talk about so many companies that are public and still not profitable. do you think companies should wait until they are profitable? >> we were profitable for 10 years, not three years prior. it depends on the company. every company is unique. companies that have a model and perspective on when they can return cash to investors, i think as long as they can articulate that and have a model they have experience with and line of sight to, they are probably ready. in our case, we demonstrated profitability. the model we were going to telegraph to public investors we had already demonstrated. emily: australia blocked the -- bucked the slow ipo trend in that the number actually went up in 2015 and 2016. what is behind that? >> it has to be looking into the homegrown investor. if you look at u.s. markets were a lot of companies like to live because there is a deep investor
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base we know that is important when you're pricing these listings. potentially, because of the volatility this year, because of the risk off atmosphere that investors had him a basically until labor day, looking to a local market is probably not a bad idea. you also saw it with a dusty listing in tokyo and also in the u.s. that was a large listing. the dynamics of the u.s. market , some of the concerns about brexit in london is another big venue for listing, potentially is driving companies to look to their home market first. emily: talk to us about what your new product looks like and where you see the most growth potential? >> our focus is on teams broadly in every business. our vision is to have every worker inside of every company. teams need to track and manage
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work, communicate in real time. our roadmap is expanding our products that support those core needs of teamwork. emily: what changes do you see in the enterprise software market in the next few years? we have seen big players like microsoft and even facebook try to take on this market. facebook is starting its own facebook at work. do you think big tech companies will be as successful as smaller homegrown companies like yours? >> i think that remains to be seen. they are worth watching. what is more interesting is the blend of consumer tech and consumer expectations and consumer usability that has been happening for a while. our product as an example demonstrates things that people entering the workforce today as young people would expect, the ability to mention someone or see a list of activities through a feed. the way we use technology on a personal basis needs to move into the workforce faster than it has.
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emily: any thoughts on a trump presidency? how is that impacting your outlook or the market next year? >> too early to tell. he has demonstrated it is difficult to predict. from our perspective, we are focused on business issues and what they can control, building great product, finding great customers they can attract to that product and moving their business with one foot in front of the other. emily: thank you both. up next, trump spectrometer -- trump's pick for security chief gives us another hint at the new administration's agenda. we will ask carbon black ceo how the cyber security community season future shaping up. this is bloomberg. ♪
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emily: a developing story. trump's transition team is said to be considering a silicon
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valley investor who is close to peter thiel to leave the fda. that is according to people familiar with the matter. jim o'neill is a manager at the capital management, but he would be an unconventional pick. he does not have a medical background. the heads of the fda have either been a trained physician or a scientific researcher. industry leaders in cyber security are trying to piece together what is in store for the sector under a trumpet ministration. we know were tied general john kelly is his choice to lead homeland security. this after state backed played a controversial role in the win. carbon blacks ceo joins us from new york. thank you for joining us. the number of generals that trump is putting on his team is adding up. what does that say to you about the priorities around cyber
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security and how they might act on them? >> it certainly says that trump is taking national security very seriously. i think the challenge is that on the one side, trump is going to have a set of advisors whose understands how big a challenge cyber security is a on the other hand, president-elect trump has been out talking a lot about the fact that he wants less regulation, not more. that will be a real challenging balance for the administration. emily: trump will be meeting with tech leaders in washington next week, including cisco ceo chuck robbins and the oracle ceo. what do you hope their message is to him on this particular issue? >> on the cyber security issue, i would hope the message conveyed is the importance of continuing a public-private partnership to better protect companies and enterprises and a sick tillers of the american economy. -- basic tillers of the american
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economy. donald is realizing he has things to learn about policy. emily: there is an unprecedented level of threat at this point affecting things that were never affected before. i'm curious and we have seen a rise in particularly non-malware attacks. what kind of companies do you think are best able to combat these kinds of attacks, and what kind of companies can? >> carbon black is a leader in this next generation of cyber security. we are helping companies across the globe every year with the challenge of cyber attacks. these attacks continue to advance against consumers and against companies every year. as you said, one of the big attack vectors is actually a tax that do not even drop a payload. they're using software trusted in the munication protocols.
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that is a real challenge for traditional players. if you look outside the security and the companies that have been around for a long time, the real challenge for them given the way that they have built their products over time to combat these new types of attacks. emily: speaking about ipo's, bloomberg has reported that you have hired banks to explore an ipo. i know you have taken a number of other companies public. do you see an independent carbon black as being the best path of the company? >> at carbon black, we are focused on helping customers better protect the organization from cyber attacks. we as a company, our mission is to build a great stand-alone cyber security company that is helping the public across the globe. public markets, private markets, how you capitalize your company, it is all steps along the way so you can build something that is helping customers in a meaningful way. that is what we said externally. that is the message for my
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employees and my customers. emily: a number of silicon valley companies have been pushing off the idea of going public. uber and airbnb now have massive core evaluations and they say they are not close. is that the right attitude, or should they be taking the plunge? >> i think the decision to go public or stay private continues to drive growth is on a company by company basis. it is a balance between growth and profitability, and what your mission is as a company. each company is making their own decision. markets have something to say about that. they look at growth and profitability in different ways at different points. if you build a great standalone company -- and certainly cyber is an area where there is growth going on -- to building a great company. your ability to tap the private or public markets is there. emily: patrick morley, as the ceo of carbon black. thank you for stopping by.
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coming up, arianna huffington joining us for a lengthy interview. this is bloomberg. ♪
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>> it is 1:30 in hong kong. exports in china surging from 6% , edging higher in dollar terms. steady demand with the weaker chinese yuan. imports also rising, leading to a trade surplus. japan unexpectedly cut readings of third-quarter profit growth. the government managed to show overall growth in the economy using the new method to
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capitalize on gdp. these are live pictures from korea where lawmakers are introducing a motion to impeach the president. they accuse her of bribery, abuse of power, and violation of her duties. she has apologized for the scandal saying that she will accept the decision. police minister do collins, health minister jonathan coleman going p.m.glish cash junkie has publicly blocked back to english to indicate -- [indiscernible] news 24 hours a day pavin or the 2600 or listen and listen more than 120 countries, this is bloomberg. the stricken on how the markets are trading in the asia-pacific today. we are seeing generally a lot
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of upside on the asian market today. through onde coming the shanghai market despite that benefit expected. seeing quite a lot of positive momentum on the australian market. nikkei also being well supported today, up by 1.3%. electric -- reports -- we're also seeing solid footwork from the hong kong market. all of this rally we are seeing in asian markets really on the hope that we are going to see these programs extended by muro driving when acb meets later today we have also seen a little money going into bonds as well having a look at the 10 year the yield on the australian note down seven point 2.73% at the
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moment you that is yields at their lowest moment in one month there are certainly a lot of buying coming through in asian equities and bonds and of course we are going to be live from london at the top the hour here on bloomberg television, this is bloomberg. one the most influential women in technology is preaching the key to success is sleep. arianna huffington has launched a new venture aimed to revolutionize the way we work and live by ending the burnout epidemic. arianna huffington joins us from new york. great to have you back on bloomberg. it involves everything from corporate partnerships to video content to an e-commerce platform. what is your vision here and what does success look like? >> my vision is to disrupt the way we work and live. we are seeing companies wasting hundreds of billions of dollars in health care costs and lost productivity and high turnover. there is a solution, which is to prioritize the well-being of employees, and to recognize that
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well-being and productivity are completely aligned. when we are exhausted and running on empty, we are actually undermining our productivity and costing businesses and individuals a lot, both financially and in every other way. thrive global has three parts. we go to operations and help them change the culture. we're working with j.p. morgan, over. also with consumers. that becomes the hub. we have great content both from our own reporters and from business leaders like jeff bezos, howard schultz, dating our -- danny meyer, writing for
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us. finally there is the commerce side, both a pop-up store and an e-commerce site. emily: i'm curious about this e-commerce platform. you have items like a foam bed. why would someone buy this? would it allow you to charge her phone outside your bedroom for a hundred dollars. how will you make money with this new venture? >> everything is curated to help people reduce stress and improve health and productivity in their life. all the latest science shows that sleeping with our phone in our bed or by our bed makes it very difficult to get a charging night sleep. this is a charging station. you can charge 10 devices. it looks like a bed. because human beings learn through ritual, it is easy to
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recognize that the way your bed is for you, the phone bed charging station is for your phone. you need to separate at night so that you can both fully charged, and reconnect in the morning. it is a great educational tool for children. i know you are about to go on maternity leave. when your child gets a phone, trust me, that is the time to teach them to charge it in the phone bed charging station, and not on their nightstand. by the time they become teenagers, it is a real battle. we now see an epidemic among teens and millennials of mental health diseases, depression, anxiety, very connected to exhaustion and sleep deprivation. they stay up all night and treat or text or snap on their phones. emily: uber is one of your thrive global partners.
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you are on the board there. i'm curious how you see your role on that board, and what sort of tough questions you are asking? is there a sort of pet project you are taking on? >> yes, we are working with uber's leadership, who did a great video interview that is on our site about his own recognition that when he started taking better care of himself in terms of sleet -- sleep and recharging, his decisions improved. that is the same point that jeff bezos makes in a piece he wrote. he is getting eight hours of sleep a night and it is good for amazon shareholders. we are taking uber's cultural values, one of which is do not cross your redline, and working with employees to create micro-steps, easy behavior changes that have been
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recognized when they are getting close to that redline of accumulated stress. stress is an inevitable part of life. the question is how can you prevent it from becoming commutative -- cumulative and having unintended consequences? we see people paying a price in terms of high blood pressure, diabetes, some of them start smoking again. all of the things are preventable if we go upstream, which is what thrive global does. start working with the sources of stress before they become symptoms. emily: i huffington, founder and ceo. we're going to head to a quick break. coming up, we will get arianna huffington's take on how the media should becoming the president elect in a historic election. ♪
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emily: a story we are following. apple's top assemblers says after limit our discussions, there could make expansion of their u.s. operations. that came after tuesday's announcement by president-elect trump that there would be an investment of $50 billion in the u.s., creating 50,000 jobs in -- jobs. president-elect trump has also invited tech leaders to a discussion next week in new york. the point -- for the leaders of silicon valley to begin building relationships with someone they criticized. the beauty currently scheduled
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now for december 13. i want to continue our conversation with thrive global founder and ceo arianna huffington. the huffington post put trump news in the entertainment section. now that this is the reality, you said the media should cover what trump does, not what he says. the problem is he keeps saying and tweeting very inflammatory and controversial things. how should the media cover president-elect trump, given the media is so often been criticized by trump himself? >> what i said is the media should cover what he does and says now, as opposed to what he said during the campaign. the campaign is over. no matter how much anyone opposed donald trump -- and few opposed him as much as the huffington post -- it is in the
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interest of the nation for him to succeed. for him to be better than anyone thought he would be during the campaign. that is why he is reaching out to silicon valley and the tech leaders, going to the meeting is important. he needs to hear from voices with which he disagrees. we saw that when he had from someone he respected that waterboarding does not actually work, he changed his mind apparently. for a minute at least, after he met with president obama, he was being -- sounding a very different tune when it came to obamacare. it seems he is influenced by whether he is listening to. that is important he is surrounded by people whose views are going to be influential, both in terms of how he runs the economy and in terms of foreign policy.
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emily: the pope came out today, lambasting the media for focusing on scandals, for promoting fake news, and said the spread of misinformation is probably the greatest damage the media can do. do you think facebook and twitter should do more to police fake or inaccurate news? >> i think everybody should. we have a tremendous responsibility. all of us in the media, to challenge the spread of misinformation, whether it comes from president trump tweeting, president-elect trump tweeting about millions of people voting illegally, or whether it comes from fake news that is promoted to the top by the algorithm that are doing that. there is nothing more important than to recognize that we all have the right to our own opinions, but we do not have the right to our own set of facts. there is such a thing as truth. it is such a thing as facts.
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we need to be absolute in terms of trying to defend the truth and the facts. emily: on that note, when it comes to a company like facebook, mark zuckerberg has said we are a tech company not a media company. do you think facebook in particular should accept greater responsibility and consider itself a media company and take actions that affect -- effect? >> mark zuckerberg said they are going to be doing more than they had been doing. it doesn't matter whether you are in media company or technology company, everyone needs to do more. that is really at the foundation of a healthy nation. emily: you are being succeeded by the new york times editor. i'm curious what you would like to see her pursuit. do you think that huffington post needs to cover more news between coasts? more news that perhaps we wouldn't be so surprised by
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election of donald trump if we understood better how people in the middle of the country were feeling? >> first of all, i absolutely delighted that she is our successor at the huffington post. she is brilliant and fearless and kind. it is a fantastic combination. i am so excited to see what she is going to do. one of the things that is important about her is she has incredible global knowledge. she has been a journalist around the world. the huffington post is a global company. 50% of half post traffic comes outside the united states. it is already in many different countries. it is fantastic to have an editor in chief who has tremendous knowledge about how to operate a global media company, especially at a time when there is so much happening around the world, whether it is in italy today, or in south
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korea, or in the u.k. with the announcement of the timing around brexit. this is such a tumultuous time. having somebody at the helm of the media of the huffington post who really knows how to navigate this water is a really a blessing. emily: hearings about the at&t and time warner merger happen today in washington. at&t obviously competitors of the parent company of huffington post, verizon. what you think about big phone companies owning media companies? >> as long as they don't interfere with editorials, not a problem. verizon never interfered with huffington post while i was there, and that is what matters. phone companies can own media companies as long as they leave them alone. emily: last time we spoke, the verizon yahoo! deal announcement was fresh. it has been postponed. yahoo! now the subject of a massive data breach.
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they say they feel optimistic the deal will go through. you thought verizon and yahoo! made a good fit. do you still believe that? >> there is tremendous synergy. with olivia as editor in chief of the huffington post, she put a great road to play when it comes to the news part of yahoo!. this is the future, we do not know what is going to happen. we have a conference on monday new york, and he is optimistic. it is obviously for 2017. emily: any thoughts on what marissa mayer's should do? >> she should get more sleep and rest and recharge. and enjoy her beautiful family. emily: arianna huffington, ceo of drive will, cofounder of the huffington post. tomorrow on bloomberg, do not
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miss a conversation with the author behind moneyball and the big short. he joins daybreak america on his newest book, the undoing project. coming up, we discussed the impact of brexit and trump. but that will have on the tech sector. this is bloomberg. ♪
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emily: facebook's oculus came out with its long-awaited hand controllers this week, called touch. this is meant to let gamers use their hands while wearing the headsets, creating an even more immersive virtual experience. the ceo of set down with charlie rose this week and spoke about how the potential for vr goes far beyond video games. >> imagine if medical students in their o d they are studying could put on a pair of glasses and could do simulated surgery again and again. on that long, they could run through dozens of procedures and continue to get better, all in
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just a dorm room. this will allow us to advance some us after the than may have just off of textbooks or a screen. emily: you can catch the full interview on charlie -- on charlie rose later on bloomberg television. in today's edition of out of this world, a fireball destroyed a rocket on the launchpad on december 1. it may have watched again in december, but space x says it is complaining -- completing the steps to have a safe flight. in the wake of brexit and the election of donald trump, concerns about immigration policies are weighing heavily on the tech industry. government backed organizations and legislators in both nations have pushed for expanded visa programs for highly talented guest workers. this including tech city, u.k.,
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which processes applications for special visas. a venture capital association has backed similar legislation for start of these is in the united states. we talked a bit about the sediment behind brexit and the election of donald trump is similar to something we are seeing around the world. will these attempts to get more skilled workers or save the flow of skill workers into these countries actually succeed? >> the hope is certainly yes. seemingly, the desire still to move to these countries and cities. big vc player over in europe based on our benchmark. they have enjoyed that london, despite the brexit and the sentiment and this wave of populism, still, the most popular city to want to move to when it comes to europe and taking entrepreneurial spirit there. this moves to increase was
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called the tech nation visa scheme in the united kingdom and the popularity is surging. you have 10 times what we saw last year applicants. you have to get your hands on this talented pool. it is important. 82% of u.k. startups since brexit, more than 40% have at least one foreign founder in the united kingdom. almost how -- half of all startups last year have one foreign founder. it is crucial to get that sort of talent over the border. emily: we talked about a number of immigrant founders of tech companies here in the united states. facebook and google have asked they are expanding in the u.k., not contracting, which i suppose is a good sign for the united kingdom. >> certainly something the government has been trying to throw up onto everything on
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newspaper at the moment. they're upping up by 500 people. 3000 to be added by google. they have the brexit teams in the united kingdom saying that you have to still allow the talented individuals to come into the country. yes you can potentially curb the few best the flow of less skilled immigration, but not the talent we want. i think what is interesting is the ceo is still sunning pretty -- sounding pretty optimistic when it comes to london's landmark. >> london continues to be the digital capital of europe. there is a critical mass of expertise in software design and software development. there are over 320,000 people alone working in london, and another one point 6 million people working across the u.k. >> optimistic. what is notable though, think of the british pound. it sunk 14% year to date. are we going to have to seat u.k. startups having to see that inflation baked in how much they
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offer, or does london become was appealing because you are getting paid less? emily: i wonder what we're hearing from immigrants themselves. we have heard anecdotally people feel they are in limbo. they're waiting to buy houses and things like that. what were people telling you on the ground in berlin? >> in berlin, they were rather rejoicing. straight after the brexit vote, one of the berlin government they sent trucks to london saint come to berlin. emily: carolyn with us from berlin. that is it for this edition of
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bloomberg technology. do not miss the former groupon ceo tomorrow, now leading the audio tour start up. ♪
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anna: the ecb president delivers his final policy announcement of the year. onending the global rally expectations of quantitative easing. snap a losings streak. for more time ecb to complete the capital increase. he will delay accepting frenzies resignation. theresa may plans to trigger article 50 by the end of march but only if she shows efforts at hand. [inaudible]

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