Skip to main content

tv   Bloomberg Technology  Bloomberg  March 31, 2017 5:00pm-6:01pm EDT

5:00 pm
international trade abuse for the directives will enforce penalties for potential violators. the white house says it will soon share financial information about top staff members on its website after concerns the president has start his team with some of the wealthiest people ever to serve in government. congressional investigators rebuffed michael flynn's offer. the committee says it is too early to discuss a deal. congress is investigating russia's meddling in the election. state rextary of tillerson and james mattis are overseas and stressed the importance of nato. tillerson called nato the bedrock for transatlantic security. convicted south carolina church shooter dylann roof will plead guilty to murder charges to avoid a second death sentence. trial been awaiting state
5:01 pm
for killing black parishioners in 2015. the deal will not save him from possible execution. global news 24 is a day powered by more than 26 journalists and analysts in more than 120 countries. this is bloomberg. "bloomberg technology" is next. ♪ brad: i am brad stone. this is "bloomberg technology." up, u.s. stocks close out a stellar first quarter surging to all-time highs this week. we will focus on the biggest winners. as iterry turns a profit reinvents itself as a software firm. will hear from c.e.o. john chen and bring you the top tech headlines of the week, including the latest on the spacex
5:02 pm
landmark rocket launch. we close on the books on the first quarr of the year ended is the best quarter for your stocks since 2015. abigail doolittle joins us from new york. break down this bullish quarter. abigail: it was a great quarter for your stocks. the dow and s&p 500 both have their sixth orderly gain in a row, the longest quarterly winning streak for the dow since 2006. speak about bullish, the nasdaq up about 10% on the quarter. it's best quarterly performance since 2013. lots of strength for the tech heavy nasdaq. not have as much as the other averages, of about 2%. interesting because that was the index that led out of the trump trade rally, so that could be a potential crack. 7363.look at
5:03 pm
over to the right in white, that is the stock of the semiconductor chip index. it is up about 12% on the quarter. in blue, biotech index of about 12%. in purple, also up 12%. the tech heavy nasdaq sectors are outperforming in a big way. turning to biotech, what was strong, lots of big movers on the quarter. absolutely huge gains across the vertechcluding almost up 50% on the quarter. it did very well. illumina trading nicely higher and even amgen getting a lift from this biotech renaissance. a really strong quarter for that area of the nasdaq as well. brad: big strength for tech and biotech in the last three months. is this likely to continue?
5:04 pm
abigail: that is the million-dollar question. lots of fundamental drivers ahead. it will come down to president trump's policies. also in terms of opec. let's look at some of the big tech winners on the month. apple, facebook, amazon, microsoft. apple and facebook up 24% on the quarter. apple on the iphone 8 everybody is looking forward to. facebook on a strong december quarter. 10% so afell about rebound from the worst quarter since 2012. some strength. as for what is ahead, much of it may come down to apple. 7346. look at this is a longer-term chart of apple. towards the right is the quarterly candle showing apple up about 24%, the best since 2012.
5:05 pm
the point to be made is we see these rounding areas. the last time apple did have the massive quarter in 2012, it stabilized in a sideways pattern before falling down sharply. we see that has happened a few other times when apple has moved up quickly. it will be interesting to see whether these gains hold. that is one thing to keep an eye on, apple. when we look at the chip sector, lots of strength across the board. , bothf the big names apple suppliers getting a boost. amd, the turnaround continues, up 800% from its 2015 lows. valuation is a concern. between apple and evaluation of the chip sector, these are important factors to look at in technology and for whether or not the strength can continue into the second quarter. brad: abigail doolittle in new york, thanks. let's continue the conversation
5:06 pm
on the outlook for tech stocks with an analyst who is bullish on facebook, amazon, netflix, and google. he is the most list on the street when it comes to snap with a brand-new buy rating and $31 price target. mark mahaney joins us in the studio. thanks for joining us. you have called snap and innovation machine. what are investors not getting about the company? mark: this will take a long time to proof out. this will be the most volatile large cap internet stock for the next 12 months. it happens with profitability push that far out. all the value is in the terminal value. any little twist is going to cause the terminal volume to shift. we have had some competitive news. the big risk was whether instagram and facebook would ape all of the features.
5:07 pm
they are trying to emily some features -- emulate some features. and: facebook messenger instagram already have it. if you are snap, what is your differentiation now? mark: you constantly continue to innovate. they have done a good job on it. that is why people are trying to copy what they do. make moreap needs to of its features and offerings more intuitive to people. you have en that with the camera screen. they've gone from symbols to chat and stories. brad: i'm still mystified by snap. mark: that is the upside. about 50% of millennial's in the u.s. use snap. 35% in the 35 to 50 range is it. if they can make the service more intuitive, i think some of the most interesting media experiences come if you want to
5:08 pm
track march madness, check out snapchat. it is the most interesting thing out there. users are going to these devices, mobile phones. people are moving away from tv except for bloomberg. snap is in the power alley. i think they have tons of growth ahead of them even if facebook tries to emulate some of the features. look at the changes facebook has done over the last two years. snapchat has to do the same thing. it is a risky stock no doubt about it. brad: amazon, a remarkable dmission this week. they closed down the brand they bought in 2010 or 2011,, they said they could not make it profitable. what is goingn? mark: i was going to ask you that question. it is interesting. i have never heard amazon do it. i think they have shuttered
5:09 pm
other things in the past. for them to say that, i found it interesting. either they are signaling to the public markets we are finally about profitability or they may be political reasons given the large number of employees in the state of new jersey. there may have been that angle to it. that is a very good point. the new administration that seems to be more focused on jobs, i you may need for extra explanation in your press releases as to why you are setting something down. brad: amazon sold the products on the site so there was internal competition. mark: features have been integrated into amazon. amazon has taken over that asset. it probably took what it needed and what was left they probably did not need to keep. but they had to explain it. there is the intriguing idea that this company has changed the way it thinks about profitability, i doubt it. brad: let's talk about alphabet.
5:10 pm
not a great week for the youtube franchise. verizon, at&t, johnson & johnson all pulling ads from youtube because of a report that demonstrated some are appearing on extremist hate speech on youtube. how big of a hit is this for alphabet? what can they do to rectify it? mark: my guess is it is not that big of a hit and they do solve it. this is not the first time it has come up. 10 or 15 years ago, advertisers were worried about what videos their ads would be shown against. it has been a long time technology problem for you to. there are 6 million videos uploaded on a daily basis. policing all of those is a tough thing. i think there is a technology challenge. i do not know how to solve that. this our advertisers using to leverage? mark: i think there's probably a little negotiation going on in the public markets.
5:11 pm
i think advertisers will come back because the fastest-growing element of iernet -- of all advertising is where snapchat is, facebook is, and where youtube is. it is mobile video. if you want to get people spending all their time watching video, you needo be on youtube. i do not think a large advertiser can afford to be away from youtube for an extended time. does this week change your mind on programmatic advertising? mark: i don't think so. there are challenges. if anybody can figure this out, my guess is it is google. it is a problem endemic to society and a platform that has that many uploads a day. brad: mark mahaney, thank you very much. latest oned the alphabet in this week's podcast.
5:12 pm
you can listen on itunes and soundcloud. blackberry's revival. shares are surging friday after the company increased software sales by 30%. we speak to c.e.o. john chen about his turnaround strategy next. this is bloomberg. ♪
5:13 pm
5:14 pm
shares soar the most in 15 months after the company beat the target of $640 million in software revenue for fiscal 2017. sales from that division rose 30%, achieving the goal set by c.e.o. john chen. chen and spoke to
5:15 pm
started by asking him if he expects this turnaround momentum to continue through the rest of the year. >> i said the consensus right now out there, we feel very comfortable. our model measures that. of fivethe consensus cents for the year profitability, cash flow positive. you should go with that. >> we were talking about this in past quarters about how the market values blackberry is a software company. it looks like you are getting close to that. in terms of your multiple, you are below other companies. you think the market will come around and start valuing it higher? >> absolutely. we do need to execute. when we made the pivot to change, it was not easy, as you know. it is not a straight line. we have made the progress we need to make.
5:16 pm
i think the fundamentals are very strong. cybersecurity area is a good area for us, as you know, that is our heritage. the transportation area that intersects is a huge area for us. when i look through the market, we are the only company of any size that could claim to put in that space. it is very interesting for us. we need to execute it. if we could repeat doing well a few quarters out, i think the investor will wake up. >> you mentioned autos. yesterday, we had some news. think it was a move that had happened but the announcement of 400 blackberry employees were moving to florida and helping with that. you have a partnership with ford that goes beyond that, all these different things. you mentioned you could see more of those deeper partnerships with other automakers.
5:17 pm
instead of just selling them your products, maybe working on things together. what do you mean by that? could we see something with g.m. one of the european automakers? >> i do not want to go into the names. we are working on a number of them. we would like to be upfront with them in designing the next generation car. saying to go beyond just buy something and use it. we like to do it. that is resonating with a lot of them. i was in europe last week. i cannot tell you who i visited. i was in europe. it was good. understandple could there is value. >> the deadline for h-1b visas is coming up quickly. i know this is an issue you are personally passionate about. immigration is important for your business and the larger tech community in the u.s. we are not exactly sure what is going to happen with the h-1b
5:18 pm
program. what is your thinking on that right now? we have had a few months since the election. do you think we will see serious disruption? >> i think the wording from the administration in public was right. unfortunately, it got tied up with the bigger issue of immigration. countries and the united states need more talent in engineering, science, medicine, many areas. the h-1b visa is a critical component to continue to add talent to the pool. we are very lucky because we have a good operation in the united states. we also have great operations in canada. can i does have a lot of great talent. in addition, canada immigration policies have not changed a lot. we have been able to attract foreigners to come to our canadian operation.
5:19 pm
have a little bit of a way out. we are also in european countries, india. i think we are reasonably set. having said that, it is still an important element for us and a lot of tech companies in the united states. >> do you think there has been anything recently that says it is not going to be as big of a change or we will not see as much disruption as we felt in the days after the election or during the campaign? when both sides sit down and hammer out a deal, it will not be as robust as first stated. but i do expect to move the needle some. brad: that was blackberry c.e.o. john chen with garrett.
5:20 pm
self-driving car project maybe it serious risk. we will bring you the latest in the waymo lawsuit. this is bloomberg. ♪
5:21 pm
5:22 pm
brad: a story would continue to watch, waymo and uber artan broiled and a high-profile lawsuit with waymo claiming uber is using secrets obtained by a former executive. we have new roles in his details -- new details on his role in the case. eric newcomer joins us. at the heart of the case, a google 14,000 files from
5:23 pm
--uber he cannot produce. where are the files? >> that is the question. uber's attorneys are in court say we are still looking for them. brad: clearly he has them and his lawyer suggested maybe not turn them over? >> landa he's looking to plead the fifth. in a civil case, you can avoid testifying against yourself is there is it -- if there is the threat of criminal action. that puts uber and a difficult position. in a civil case you cannot say we do not have any evidence. you still have to produce evidence to defend yourself. is notey executive helping them. that is damaging to their defense. brad: uber's judges asserted -- attorneys asserted and the judge seemed to ask that -- accept it is possible they had access to the technology but did not use
5:24 pm
it. he developed a in his short time at uber? exchange with the judge. he said it is possible. it is also possible they did use it. i think that will be the defense. will have tote deal with the applications of whether he stole them or not. hopes to argue we built at a different way and are fine whether he took the files or not. the judge was asking why this guy is still working for you. you can fire somebody who does us not --does not produce documents. brad: why is he still working at uber? >> he is close to travis. are a them said they brother from another mother. brad: the threat is the judge
5:25 pm
passes a culinary injunction that stops uber from developing self-driving technology. what is the implication? >> it slows things down. this is a race to get miles on the road. arizona, pittsburgh, san francisco, it is not something they want to see happen. it would be a blow. the judge was like we might be getting into it, preliminary judgment territory. it was like you need to come up with something or google has a strong case. brad: this is part and parcel of uber's terrible two months. what can they do to turn this around? >> i do not know. every one they have to deal with separately. we saw the report on the cultural problems. they are hiring a c.o.o. clinging need to give that person a big role and have them probably disown some of the
5:26 pm
mistakes of the company's past. that is the best hope they have got. brad: eric newcomer, thanks for joining us. coming up, s.e.c. broadband privacy rules were thrown to the side as we whether congress. why your web history could be at risk. this is bloomberg. ♪
5:27 pm
5:28 pm
attention homeowners age sixty-two and older. one reverse mortgage has a great way for you to live a better retirement... it's called a reverse mortgage. call rfree information kityour with no obligation. it answers questions like... how a reverse mortgage works,
5:29 pm
how much you qualify for, the ways to receive your money and more. plus, when you call now, you'll get this magnifier with led light absolutely free! when you call the experts at one reverse mortgage today you'll learn the benefits of a government-insured reverse mortgage. it will eliminate your monthly mortgage payments and give you tax-free cash from the equity in your home... and here's the best part... you still own yohome. call now! take control of your retirement today! alisa: i am alisa parenti and you are watching "bloomberg technology." president trump signed two executive orders today aimed at cracking down on international trade abuse. the directives come as the
5:30 pm
president is set to meet next week with china's xi jinping. he has blamed china's policy for trade deficit and job declines. russia is a says history of violating international law. he spoke today at a conference in london. >> russia's violations of international law are now a matter of record from what happened with crimea, two other aspects of their behavior mucking around inside of other people's elections and that sort of thing. alisa: u.k.-based inks may be left out in the cold as to go stations for an amicable brexit heat up. he circulated guidelines to block member saying a free trade agreement can only be finalized after the u.k. leaves. administration officials cite concerns an agreement for london banks to access the single markets could be impossible. scotland's first minister
5:31 pm
formally requested a second referendum on independence today. have the right to exercise the right of self-determination. she sent the prime minister a letter formally requesting the transfer of powers to allow the vote. the french candidates as if he is elected, he will make fighting islamic extremism a top priority. he is also proposing a european alliance led by france and germany. he and his wife are under investigation for misusing state funds. elections begin april 23. the former finance minister says it is now up to top lawmakers to provide assurances of political stability. he spoke to bloomberg after his dismissal during an overnight cabinet reshuffle. >> leadership and government must provide that assurance. changes will happen anywhere in the world. far more important is to look after the welfare of the economy. i think we have many good things
5:32 pm
going forward. alisa: he is succeeded by the former home affairs minister. 1300 pages ofered internal investigation reports into suspected bribery and corruption to switzerland's attorney general. soccer's governing body says it is legally barred from publishing the full report or commenting on evidence from the probe. the u.s. will also receive copies. the latest cutting 500 troops from the peacekeeping mission in congo. the resolution comes after pressure from the trump administration for reform. global news 24 hours a day powered by more than 2600 journalists. i am alisa parenti and this is bloomberg. ♪ brad: this is "bloomberg technology." i am brad stone.
5:33 pm
consumer protection advocates were dealt a major blow tuesday when congress voted to overturn broadband privacy rules. house republicans moved to dismantle rules that required internet service providers to get exquisite permission from customers before using or sharing personal data. earlier, i sat down with tom latestnd discussed the on this story plus other headlines that grabbed our attention this week. gives -- it, this takes power away from the fcc to set limits on what internet service providers can and cannot do with your information. comcast, at&t, verizon now have more freedom to do -- to work with the information you are putting out online, your search history, what apps you use. before, the fcc put limits on what they could do with that. now the limits will not take effect. in theory, an isp can take your
5:34 pm
browsing history, monitor that without your permission, sell it, use it to target ads against you, to make more money online. brad: you covered what it means for consumers. what does it mean for these businesses? the stocks and indexes are way up. >> they are doing really well. there is a lot of hopefulness, a lot of expectation the trump administration is going to deregulate, take away these constraints that lawmakers say democrats overreached with the fcc. thatdea is that regulation was in theory holding back the at&t's of the world is going to be taken away. they will have more freedom. they will be regulated more by the f.t.c. and not the fcc and maybe plow that profit into making innovative products or just lining the pockets of shareholders. >> another big news topic of the
5:35 pm
tencentsla, consent -- ingesting -- investing $1.8 billion, 5% of the company. what does that mean for tesla? >> it is a huge deal because tesla investors have largely been u.s.-based companies and shareholders. fifth largest the shareholder so they have vaulted to the top in terms of importance. this comes as tesla has struggled to crack the chinese market. out, elonews came tweeted we are happy to have tencent as an investor and advisor. brad: a.r. a messaging company. what practically can they do to accelerate the sale of teslas in china? >> they can use it as a marketing laugh or to reach consumers.
5:36 pm
china is the world's largest automaker. this vision of embedding maps into the software. you have to have good mapping software to sell cars in china. sentu have to think of 10 as much more than a wechat company. they have ambitions to be a lot of different markets. map are investing in technology which you really need for driverless. they are making big bets on , they are a big investor in a car company based in california started by a chinese guy. they have the conditions -- ambitions and a.i. and electric. this furthers them down that road. like to seehe would them get into developing a.i. technology the future. brad: another spacex launch from cape canaveral. it sounds routine, but it was
5:37 pm
anything but. why was yesterday different for spacex? >> this is the first time spacex launched a rocket they used before which is a big deal. no one has ever done that. people talk about the shuttle being reusable. this is the first time a rocket that went to space went to space again. they relaunched the rocket and landed it again on the drone ship. brad: he got emotional about it. >> elon was sort of weeping and gave this rambling press conference where he was so excited. this is what spacex is all about, driving down the cost of space so humans can live on mars. brad: eventually a 24-hour turnaround time. how close are they in achieving the ultimate vision? >> it took about four months to refurbish this one. eventually, they want it to be like flying a 747. you should be able to bring it back, refuel, and fly it again. that is still a ways off.
5:38 pm
elon is always pushing the envelope. brad: i promised a mystery question. if elon calls you next year and says we are taking humans to space, you can be the first journalist in space, do you do it? >> absolutely. i do not think he would be calling me. brad: would you do that? >> it would be exciting to go to mars. i have concern about the infrastructure of mars. brad: maybe an orbit around the moon. >> i would fly around the moon. brad: remind us of his ambitions of human space travel. >> part of it is trump is very interested in the moon. mars is still the long-term goal but we want to go to the moon first. he has two private citizens that have paid spacex a significant deposit to fly around the moon next year. giles and was tom dana who covers all things elon musk.
5:39 pm
the spacex founder was over the moon after pulling off the first used rocket mission. elon musk spoke yesterday about what he thought the launch meant for the future of spaceflight. >> it is an amazing day for space and the industry. reflyns you can fly and an orbit class booster, the most expensive rocket. this will be a huge revolution in spaceflight. brad: coming up, waze looks beyond navigation to food. we will dig into what mobile ordering means for the company's strategy. the final four tips off saturday in glendale, arizona. the semifinals feature south carolina against gonzaga, north carolina against oregon. it also means bloomberg's brackets for a cause is coming to an end. we brought together some of the biggest names in business and finance to compete in the bracket, ongoing to charity --
5:40 pm
all going to charity. there are still three games left to be played. you can follow all of our bloomberg market -- bracket coverage online. this is bloomberg. ♪
5:41 pm
5:42 pm
brad: google's waze is expanding beyond maps. users can place orders for pickup at dunkin' donuts. the partnership is just the latest move for the company. earlier this month, it announced plans for the ridesharing service to go international with
5:43 pm
an expansion to brazil. joining us is di-ann eisnor, head of growth for waze. thanks for joining us. thank you for everything you do. we should bes, eating donuts as we talk about this. what is this partnership about and what does this mean for the people that use it? >> the mission of waze has always been to save people five minutes a day, every day, for drivers. a natural extension of that is you are already stopping for coffee or donuts theoretically, so why don't we make it easy for you? you order ahead before you start your drive. you get to your destination, you pick up your coffee, and had to work. brad: this is a pilot program. do you open this up to other merchants and let drivers pick up all sorts of food or merchandise? what does the future look like for order ahead? >> dunkin' donuts was the first rent to integrate. we are setting up for other brands.
5:44 pm
we will start with food and see how it goes. it is a pilot. we feel good about it saving our users more time. brad: people are used to using waze to get around. this is a different use case. how do you make the case to users that can be e-commerce in waze? >> our users have been making the case to us for some time. they have been looking for us to lead how to improve the commute. this is just one way. brad: i have always wondered, google has another very useful tool, google maps. why not integrate? >> the technical stack issues that would make it too difficult. where both building out around different use cases. i think everybody should be using both. brad: is that a different use case? a different kind of driver? >> it is abt saving time every single day. . maximum efficiency, improving your commute.
5:45 pm
google maps is beautiful imagery of google earth. it is what i do when i am biking. it is very broad. i would say we are very deep on the driving use case. brad: waze purple is in san francisco. you are bringing it to brazil. what is waze carpool? >> it is very simple. instead of sitting in traffic and not having the h.o.v. lane, you can waze together. it is different from ridesharing in that you are already going in the same direction. you're already headed to bloomberg and pick up another wazer on the way. it is reinforcing the community and fighting traffic. brad: i thought you were going to say uber. traffic, of course. for others, money changes hands. it is a big incentive for
5:46 pm
drivers to pick others up. will you introduce that to waze? >> we have. it is a very different model. you cannot be a professional driver because this is going on your own route. we limit the amount of times a day you can do it. you do get paid as a driver. as a rider, you are paying a little but not much. much.about 4x as there is money but there is a taxable limit which is $.54 a mile. if we can pay the drivers that amount, it is not taxable for them. it is literally covering fuel and wear and tear. brad: a lot of this happens organically and has for years. can you partner with cities to into thee carpooling sectors where they are doing it? >> we partner with 250 cities around the world for waze itself. we worked with rio to reduce
5:47 pm
congestion 27%. we are doing this with partners all around. with the huge amount of drivers we have, plus the cities we already work with and a simple technology, it should be an easy way for us to get matching at a scale that has not existed before. that is what we hope. brad: it is easy to look at this and conclude this is out of it's way of --alphabet's way of backing into the ridesharing category. how different is it? can you get to formal ridesharing with waze carpooling eventually? is that the plan? >> i would not assume there is much of a plan with any of the big tech companies, first of all. we have this mindset of trying to see what works. it is about what will happen in the future of mobility. we know there will be flying cars and no more traffic, but we are very practical. how are we going to get there today?
5:48 pm
what can we do now that blazes that trail? what are the services, the software that will be needed? that is where we are focused. not part of a bigger strategy. that is a big one as it is, get rid of traffic altogether. brad: do you think that is an achievable goal? >> i do. otherwise, i would not be working on this. obviously, i am a dreamer starting waze. it is the practical look at if right now half of the wazeers in l.a. were together, we would shave 10 minutes to start off a one-hour commute. brad: earlier, we talked about the waymo self-driving car efforts. do you see waze as a platform for alphabet to deploy self-driving cars eventually? >> i think it would make sense down the road not just for waymo but for some driving cars to be part of a strategy for any service. thet now it is about
5:49 pm
services, how we are getting the data, what are we doing today. we are letting other people worry about the hardware component. we are not making the hardware or software. brad: do you work with the waymo unit inside alphabet at all? >> you are not supposed to ask me that. [laughter] brad: next time we talked, we will have to order some dunkin' donuts with the order ahead feature. di-ann eisnor, head of growth that waze, thank you. employs on wall street are addicted to texting. we will explain next. this is bloomberg. ♪
5:50 pm
5:51 pm
brad: now to one of the most popular stories on the bloomberg. illegal texting on wall street seems to be going off the rails. traders are using apps like snapchat which are virtually untraceable as ways to skirt financial regulation and share dubious information. laura keller spoke about it
5:52 pm
earlier on "bloomberg markets." >> two of our agencies that regulate banks and also asset managers for the sec say any business in financial services has to keep those business records. if you are an employee texting, it is not you breaking the law but your firm that needs to be able to see anything you're using to conduct business. a personal friend would be fine. you can text about that. just nothing in terms of how you're going about business communication. >> many customers are friends. that gray area gets big. some people have gotten in trouble over this. >> we have two cases we cited, one yesterday. it was a banker in the u.k. cited by the authorities there for sending to friends essentially some information about a pending deal.
5:53 pm
nothing in that case was illegal in the sense that he was not benefiting from the trade. there is no profit or loss mitigated. but he was not supposed to be doing that. and it was supposed to be kept in confidence. he was fined. the other case was more egregious in the eyes of the u.s. authorities. that was an indictment against a money manager for a pension. when those individuals manage money, they are not allowed to accept gifts and things from anyone trying to do business with them. you had a case prosecutors are still going forward with. one of the salespeople is not cooperating. the money manager has pled not guilty. they were using whatsapp to recapture a bride on purpose. that case is still in court. we do not have a verdict yet. potentialthe two
5:54 pm
lawbreaking we see. the other thing we looked at, a lot of it really is i do not want my boss to know something about work or i have a gray area with someone leaving, but i want to let some of my friends who may be my colleagues at rival firms know that he is leaving. >> it does seem rampant from your story. the examples you're talking about seem like they are common. what are these firms doing? are they going so far to say, you cannot have your phone on the floor? >> exactly. most firms have some policy in place to say we do not want phones on the floor because we know it opens up all of these issues. the enforcement area is where we see a lot of differences. i talked to a lot of different people. some said we have a policy, we pretty much ignore it. in the sales meeting, led by sees someone texted -- my boss sees someone texting. >> is is a rule that could go away? >> i did talk with one professor
5:55 pm
anyone who has funding might get a pullback on the funding and there will not be as much sec oversight because they are not able to look at it. >> the enforcement question rather than getting rid of the regulation. >> is a very well-established rule. brad: that was laura keller. that does it for this edition of "bloomberg technology." remember, all episodes are now live streaming on twitter. weekdays at 5:00 in new york, 2:00 in san francisco. that is all for now. this is bloomberg. ♪
5:56 pm
5:57 pm
5:58 pm
5:59 pm
6:00 pm
♪ announcer: from our studios in new york city, this is "charlie rose." evening we begin this with our continuing coverage of the investigation into russia's meddling in the u.s. presidential election. the senate intelligence committee held its first opening session today. democratic and republican leaders promised a thorough inquiry as doubts them out what happened in the house investigation. meanwhile, the new york times reported two white house officials helped to revive -- provide the chairman of the house committee with reports indicating surveillance of president trump's associates.


info Stream Only

Uploaded by TV Archive on