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tv   Bloomberg Technology  Bloomberg  May 15, 2017 11:00pm-12:01am EDT

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>> i am alisa parenti. this is a check of your first word news. white house press secretary sean spicer declined why to address why president trump hasn't this about his travel and targeting some muslim nations, that he said the executive order will be upheld in court. judges from the ninth u.s. circuit court of appeals in seattle heard arguments in a lawsuit filed over the ban. supreme court justices refused to reinstate ballot restrictions that a lower court said targets blacks with the most surgical precision. state republican leaders supported the restrictions which required voters to show i.d. and eliminated same-day registration
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and reduced the number of early voting days. vladimir putin says the source of the worldwide cyberattacks lay with the u.s. intelligence community, and cited microsoft has proved that russia was not involved. his comments came after brad smith blamed u.s. intelligence agencies for stockpiling codes. two people are reportedly dead after a learjet headed to new jersey's airport from philadelphia crash while it was approaching the runway. the f.a.a. reports it went down a quarter mile from the airport. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. i am alisa parenti. ♪
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emily: i am emily chang, and this is "bloomberg technology." the cyber strike felt around the world. we had live to london, just one place where the ransomware struck. waymo doubles down on its war uber, forming an alliance with lyft. and, as retailers struggle to stay above water, one industry struggles to stay afloat. and we will talk to katrina lake. over the weekend global , a cyberattack snowballed to infect 200,000 computers in 150 countries. from theems hit systems u.k.'s national health service to russia's ministry of interior. while government and companies work to contain the attack, the homeland security adviser denied the u.s. is responsible. >> this was a of vulnerability
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exploited as part of a much larger tool that was put together by the culpable parties and not the u.s. government. this was not a tool developed by the nsa to hold ransom data. this was a tool developed by culpable parties developed by foreign nation states that are put together to develop it in phishing emails, in bed it in documents, causing encryption. emily: we are joined by caroline hyde and patrick morley. caroline, i want to start with you. the origin of this attack is incredibly complicated. you heard the white house speaking there. talk to us about how this started. caroline: the mud slinging was already being directed at the national security agency, saying you remember the attack earlier this year that some of its tools were dumped on the public internet by hackers.
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aimed at onebeing tool, eternal blue. this is meant to penetrate a vulnerability within microsoft's operating system. so it was able to spread. it was phishing emails and they say it is in the blame of shelfing of documents. remember, when this was dumped by the shadow brokers who were the hackers who got to the nsa, microsoft did send out a patch back in march saying update your systems and you will be saved, users who have been hit have been perhaps not tech savy. health systems here in the u.k. our own system and haven't been updated and have got it in their grip. and this has been able to spread and microsoft at the top blaming perhaps the united states. we heard from the president and chief legal officer, brad smith
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, writing on sunday, saying look, the u.s. military have the equivalent of their own tomahawk missiles being stolen. he is trying to hint that maybe the nsa is to blame, and homeland security is backing away. emily: brad smith is saying this attack should be a wake-up call. i want to talk about the reach of this. fed ex in the united states, major telecom giants in spain, hospitals in japan and indonesia, what does that tell you about the actual target and intention behind this attack? patrick: it reinforces again that cybersecurity is an important issue and that it's a weapon that can be used in the wrong hands in a way that's very bad for the global economy. there was nothing novel in this attack. it was put together leveraging a set of things that have been some time, but was done in such a broad way
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that it again brings home how vulnerable the economy is on a global basis. emily: what is quite interesting is that perhaps asia did in kickoff and the way anticipated. everyone was bracing and china had 40,000 of their computers, but many more thought it would be much bigger across asia. why perhaps hasn't it been? patrick. emily: looks like patrick is having a little bit of trouble hearing caroline. i would like to ask you about the continued fallout from this attack. caroline mentioned in asia, it took a little bit of a longer time to pick up. are you expecting more fallout from this attack and where? patrick: we will continue to see additional companies that are hit by the attack. if you look at the way what the attack is relying on, it's
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relying on two things, user behavior, people are opening phished, and you have vulnerable systems. that is the primary combination that the adversary is hoping for to gain money. we will continue to see a long tail on this with additional organizations getting hit. the media coverage actually has been a real benefit because it has woken up a lot of organizations and individuals that they should be smart before they open emails. i want to talk about the ransom aspect of this. the way it works is that the malware penetrates the computer, locks the user out, and in order to get back in, they have to pay pay the perpetrator $300 in bitcoin, or twice as much if you're not using bitcoin. what do you make of this tactic? bit coin is something that is more difficult to track, but even so, couldn't that lead directly to the people who are
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behind this? patrick: well, this is -- there is a large underground that has been built from an organized crime syndicate around this on a worldwide basis and they have built mechanisms very effectively to make it challenging to find them. and a simple way to think about it is that because they have hacked other machines around the -- to they can opt to information around them. they are harder to find. two years ago, f.b.i. said ransomware was a $24 million problem. this year, it will be over $1 billion. and this is causing challenges. we have not seen the biggest, baddest yet. emily: what are businesses supposed to do, do they pay or wait it out? >> we would tell businesses not
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to pay, and when we talk to our prospects that have been hit in the past, we see more organizations not paying and using this as a way to have a conversation, the executive team, and the board about how to implement smart security in today's world that is a hyperconnected world. and much of what we see in this attack comes down to basics. patch your systems, educate your users, backup your computers, and as the c.e.o. of carbon black, i would say be very smart about using next-gen security products on your into devices. end devices. emily: caroline you have been looking into how far this has reached and talk to us about the extent of where these computer systems have been hit around the world. caroline: 200,000 computers and 150 countries. here, it has been the very infrastructure of the united kingdom, the national health system. in spain, we have the telecom
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giant, of all companies to be hit. in germany and german railroad and from u.s. to russia, the money being extorted is not that much. $300 a pop. only $60,000 has been paid so far. that means only 200 people have paid up so far. emily: it is quite a perplexing attack to we will continue to follow this as a follow-up as a potentially continues. caroline hyde in london and patrick morely from carbon black. now snap continues to recover from losses after last week's 21% plunge as news breaks of the institutional owners reporting app.es in the fidelity with 33.2 million stake and george sorrows owns a new stake in snap.
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-- george soros also owns a new snap. in another blow to uber as waymo partners up with rival lyft. this is bloomberg. ♪
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emily: the battle over autonomous cars just got a lot for more interesting. tomo is teaming up with lyft test self driving cars. ,aymo is currently suing uber
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saying it is using trade secrets stolen by a former waymo engineer. how much of a threat is this new partnership to uber? my enemy is my friend, but this is also useful to waymo to deploy their self driving cars through lyft. is able to do something with this, it is a much more credible threat to uber. there is so much we don't know, the autonomous landscape, and how the companies will compete. it is a strong partnership. emily: a judge's wing efforts to freeze uber's self-driving efforts.
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>> we got the latest information . the judge said the head of the program or the former head can't be involved in these lasers that the car used to see things around. uber at already done that, so the injunction isn't stopping uber. uber can keep going forward. i think the threat is more that the judge seemed to say things the good for waymo, and therefore bad for uber. emily: some industry observers said that uber doesn't need the technology that was supposedly stolen in order to sell their self-driving cars. lidar ands been using researching their own method. they don't have enough lidar for uber. it's expensive. at the end of the day if it is to be cheaper than human drivers, the company wanted to develop the technology to make it less expensive.
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uber'snet-net, are self-driving efforts in peril? eric: it still hangs on this case, but the time line is much farther off. this pulmonary injunction, we seem to have gotten past that, and now this court battle will take a lot of time and turns out what the ultimate consequences , but it seems like they are allowed to go forward for now, and that's good for uber. emily: thanks for that update. staying with uber, another ongoing battle for the company. regulatory hurdles in the e.u., italyrmer head of uber bendedtta lucini. he joins us from new york. first, i have to ask you, what is your take on this new partnership between waymo and lyft? anyonestly, i think partnership that can help autonomous cars get on the road
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is a great one. so i think there is space for a lot of players in the market and the idea behind uber was to take more cars off the road and create more safety for transport, so i visit it can be competitive, but i think it can always be good incentive for uber to do more. emily: i'm curious about your own experience at uber. obviously uber has had its fair share of pr issues over the last few months. do think travis kalanick is the person who should be leading this company? bendedtta: i chose uber because of interviewing with travis. i think he is a great leader. a lot of what he comes, comes outside the company is very different of how it is internally. i think he has always cared about the way and direction of the company and he has said many times that he was going to change. so obviously with a company that is growing so fast, when i
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joined uber, we were little over 100 people. now there are over 6000. it is hard to control the h.r. and planning of the team of such a high-growth company, but i really think it is in the best interest of uber to keep a devoted leader on board. emily: uber's quest for world domination has hit resistance in europe, especially in italy. some have tried to ban the app altogether. there is an appeals process going on. how do you think that issue will result, in italy in particular? bendedtta: uber's problems have been seen across the world. but what is really song is that users are really behind the app and really want to use it, and this we have seen in italy, the users being loud in defending the battle that uber is trying to bring on in europe, which is to liberalize markets that are way more closed than you can see
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in the u.s. with very few licenses for taxi drivers, and these licenses owned by the actual drivers, it to stand behind new innovation and competition. but what we have seen is that users have really stood up for the app and new types of services. and if you come to a european city where uber works properly, like london, everyone is loving it, and it can be done. there has to be new regulations put in place, but this new regulation has to foster innovation and leaders in europe are much more conscious about the importance of innovation, so and i'meful about
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hoping for transfer to really manage to penetrate the european market. emily: i wonder about that, just last week a senior adviser to europe recommended that uber has to follow tough transportation rules. how is uber going to overcome this resistance? is it by sheer force of will? bendedtta: the european law does not focus on the local level. this has created problems which technology companies have been facilitated by regulation that is european-wide. the point that is very important to notice and to underline is the fact that at a year level, very little could be done at local transportation rules. so this is a little bit a struggle for uber, but not just uber, there is a car pulling company, a french company, also a unicorn, but they have seen a lot of struggles also because
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regulation around car pooling is not very clear in the european market. emily: i want to talk about your personal savings app. you say it is powered by collective intelligence, marrying the wisdom of the cloud and machine learning. how is this different from other savings app on the market? announcer: i think a >> i think a lot of the savings apps in the market are passive. try find ae done is way to find a way and we have seen it through behavioral economists and we allowed users to link savings to their behaviors like running, and you can save every time you run or link it up to your social media. so this allows a creation of like a little bit more of a gaming solution and making
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saving a little bit more of a multiplayer and challenging kind of experience that can help users really get traction. actually our first results have been very positive because we see people increase the amount of saving every week over time. emily: all right. interesting stuff. we'll keep our eye on it. former head of uber italy. thanks for joining us. coming up, amazon made its debut as a public company 20 years ago today. can you believe it? we will be cap the last two decades and how much money you could have made, next. speaking of movers, take a look at the u.s. majors, s&p 500 and nasdaq closing at all-time highs monday, led by tech and financials. nvidia, symantec. this is bloomberg. ♪
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emily: 20 years ago, the company amazon, $440 million. fast-forward, this book startup is running the e-commerce world. amazon is now worth $460 billion. the stock trading at around 600 times its price on the day the ipo. let's break it down by the numbers. a $10,000 investment in 1997 would be worth $4.9 million today. into thisrm itself tech behemoth, amazon has pumped cash into amazon prime, amazon web services, and the amazon echo ai platform. and while this cash burn has worried many investors, amazon has turned profits for eight straight quarters think in part to its cloud computing business, aws. and amazon's market cap now
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almost 230art, worth billion dollars, less than half of amazon. now amazon is stepping further on walmart's turf, opening its own brick-and-mortar stores, surely a battle royale to watch for the next 20 years. another story we are watching, government officials from the european union and u.s. will meet in brussels on wednesday to discuss plans to broaden an inflight ban on laptops and they fromablets to flights europe entering the united states. the department of homeland security might expand the ban currently imposed on u.s.bound flights. the new security protocol could mean longer security lines and heightened delays. coming up, as governments and corporations worked to contain the global malware attack, there are a few winners, cybersecurity firms. we will discuss next. if you like bloomberg news, you
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can check us out on the radio. this is bloomberg. ♪
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across all your locations. hello, mr. deets. every branch running like headquarters. that's how you outmaneuver. is 11:29 a.m. in hong kong, and 12:29 in tokyo. its disputembled as with western digital turns bitter. toshiba once to block his partner from a memory venture they share after threats of legal action. digital invoke an arbitration clause which could postpone a sale. plans to bar western digital workers from its chip facilities in central japan. as that adding sharpe's name to the pursuit
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raise concerns about the technology going abroad. sharp is said to be seeking -- raise concerns about the technology-- a partial stake ine profitable unit. european union governors have their brexit negotiation positions as they prepare for first talks with the u.k.. trapped of documents show a tougher stance and specific demands on citizens rights and the role of european courts. german chancellor angela merkel and french president emmanuel relation,t a deeper but also reform. has named édouard philippe as french prime minister, charged with joining the economic and social changes france needs. the rest of the government will be announced later tuesday, expected to be a mix of
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,moderates, centrist and left wing individuals. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. ♪ >> have a look at new zealand, the kiwi dollar flat. sophie, my apologies. we are meandering higher. the asx 200, .1%, flat there.
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there are no real catalysts out there when it comes to the forex markets. dollar-yen is something we are following closely as well in the back of those comments from donald trump. something to flush out a bit later on in the show. ♪ emily: this is the "bloomberg technology." i am emily chang. back to our lead. more than 200,000 computers in at least 150 countries have been infected by malware. users are locked out until they pay $300 in bitcoin. it gained momentum over the weekend and businesses and users are bracing for more. we are joined by editor at large cory johnson. you think digging into the impacts of this on small businesses. what are you finding? cory: small businesses are the perfect target for ransomware. they are businesses that rely on their computer systems and
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payment systems, they rely on the data that they gather and use in their day-to-day lives, but they don't have a massive i.t. budget that will keep them updated in security updates and the i.t. staff to track down these problems. they are the most likely to pay. ibm did an interesting study that was released earlier this year, and they found that 70% of the business executives who have been targeted by ransomware were willing to pay, and with 50% of them paying over on each $40,000 occasion. over $40,000,ying so the fact that so many of these victims are willing to pay up shows you why they are the perfect target. figuredo the math and 200,000 were affected, 70% payout, but it is only $300,
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that would be a $42 million payout for the criminals. that is the kind of payout these guys are used to inflicting. emily: in addition to the perpetrators, there are some companies benefiting from that. who are they? cory: certainly in terms of stock market moves, the market buys of any stock, then forgets about it a few days later. some of the smaller companies that are focused on that have seen a great benefit. he sought in semantic and others. one of the companies that we pay attention to is carbonite. they have made it a focus saying protect yourself from ransomware , and they have been making a big part of their messaging over the last year and their solution and you have seen their shares up 121%. you have seen gains in terms of sales for this company have been spectacular over the last year. i think sales are nearly up 50%,
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53% indeed. not just a beneficiary in the last couple of days, but really a long-term beneficiary in the way third business is growing on the heels of these rampant cybersecurity ran somewhere attacks. emily: cory johnson, we will continue to watch this ransomware attack and bring you any updates. digital assistance are the popular kids on the block in 2017 from amazon alexa to google home. another startup wants to be part of the in-crowd. lighthouse has invented an interactive assistant that leverages deep learning to keep residents connected to their homes while they are away. the startup has support of tech heavyweights like andy rubin and sebastian thrun. joining me now to discuss is lighthouse founder and max caston.
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describe how the technology works. i have heard it described as amazon alexa giving you connected to your home while you're in the outside world. right. what is going on here is the combination of 3-d sensing and deep learning. this makes it possible to understand what is what in the environment, that's a child, a dog, a person, a mother. this let's is behave intelligently. this let's you ask lighthouse, tell me about the things you care most about. you can literally say, hey, lighthouse, let me know when you someone at the front door with a dog when i am out, and it will do that. emily: how much of the market is there for this? even though the connected home sounds great, it sounds like very few people have connected to their home because it is very difficult. at what point does this become mainstream behavior? >> there are millions of home cameras out there right now. they provide a great service in terms of recording data and giving you access to that data.
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but what we are doing is making that data useful, giving you actionable insight, actionable information, and that's what people care about when they get a home camera. we call this interactive assistant. you tell it what you care about and it tells you when those things happen. emily: amazon, apple, google, you have the biggest tech giants trying to stake out their territory in the world of ai. who is doing it best? or is it anybody's game? >> amazon is the most interesting one. combined with the uptake of people buying these echo devices which looked ridiculous when they were were released, and now they are really taking off. the products they have announce d involve video, and when you add calling on top of that as amazon just did, maybe you think next smart stone.
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maybe amazon owns the operating system of the home. you have other players making plays for the home, like lighthouse. so there is a lot of interesting activity, but i don't think it's clear how it shakes it at all. emily: what do you think? >> we see the different offerings in the space as being kind of complementary. alexa is a fantastic way to connect to the outside world when you are at home. lighthouse is a fantastic week to connect to the home when you are in the outside world. emily: how many devices am i go go to need? >> it depends what you are looking for. if what you are most excited about is understanding what is happening at home while you are out, then lighthouse is a fantastic choice. emily: are privacy and security issues of concern here. the fact you have a camera monitoring you inside your home. it sounds a little like big brother. security and privacy are of the utmost importance. and trust is also important.
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we built in bank level security measures across the products. emily: what is your take on that? what are you hearing from potential customers? >> i think people are getting comfortable with the privacy issues. i have a nest camera in my kid'' room, and nest is owned by google and makes money selling data. and yet here i using it and not am thinking too much about it. in a lot of ways we have given up more to these companies in terms of privacy than anything they can in terms of looking at our homes, in terms of email. i think people are comfortable with it. what is interesting is that we are seeing some of these a.i. things that people have been talking about for a long time. machine learning and sensors , those are things people have been talking about with self driving cars, and now we are seeing the technology being sold to consumers in devices like this. we are perhaps at an inflection
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point where ai's becoming mainstream. emily: a.i. is going to be a big topic this week starting wednesday. we will keep our eye on you guys. thank you for stopping by. >> thank you. emily: while traditional retailers and e-taelor struggle, a ceo will let us in on their shopping secrets. this is bloomberg. ♪
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emily: nordstrom is going through layoffs, and while many retailers and etailers have been fighting to stay afloat, one
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company defies all this doom and gloom. hit sales of $370 million and has been profitable. stitch fix relies on data and network of stylists to send clothes to customers on demand. for more on what is next for the company, we are joined by the ceo of stitch fix ceo katrina lake. there are a lot of clouds over the retail landscape, but you have been defying the odds. how did you get there? katrina, what fundamentally matters to the customer when she buys close and to create a business model was at the core of what we do. our clients let us know their preferences, how they think about the body, where they are looking for, and we are able to specifically cater to what she's looking for and not have to weed through all the listings and filters through all the results
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and all of the kind of difficulties that people see in e-commerce today. emily: as you grow, there will be new challenges. how do you whether those in the midst of the challenges in such rapid growth? katrina: we have scaled. we have five distribution centers and over 6,000 employees . we have built this amazing base from which we can continue to grow and also to launch new businesses. so we just launched men's about eight months ago and plus-size and in the men's businesses. we built the business in six months to be as big for the women's business with three years in. we created this platform that has all of these factors for growth and we are at a place where we can focus on that. emily: how much are these individual businesses contributing to the bottom line? is women still your bread and butter? is it man? is it maternity?
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katrina: we have been seeing plus-size and surpassed our expectations and how fast it has gone and that is an underserved market and one we are well suited to serve exceptionally well. emily: now you haven't raised any funding since the $25 million round led by benchmark in you raised $42 million from 2014. outside investors preparing like you have airbnb and uber raising billions and billions of dollars and they are not profitable. do think there is some irresponsibility going on at some of these other companies? i can't speak about what is going on in other , ipanies, but in our company i focused early on the economics and making sure we were going to be in control of our own destiny and serve the customer we want to serve. our customer was right for our financial situation. i think has served us well. there are a lot of investments,
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men's and plus sizees. emily: what are your capital plans going forward? do you think you will raise the money? katrina: i can't comment on any raises or what we might do or any ipos. we are just focused on building our business and serving our client well. emily: one of the things about thesch fix is how many clo do people need? will customers keep coming back over months and years rather than just a one or two off? do you think this is sustainable? katrina: one of the amazing parts of our business is we have this partnership with our clients. our client is sharing with us, what she is feeling, what she is looking for and where she is in her life. and there are times that our clients will cause and say i have enough for now, then come back and say i just came back from maternity or starting a new job. that open communication enables us to be good at retention and understand where she is in her life cycle. emily: amazon is experimenting
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with brick-and-mortar. is that something you would do? katrina: we don't have any plans for brick-and-mortar right now. emily: can clothing be rented out like netflix and people are more likely to rent their wardrobe in the future than why it? what you think about that concept? katrina: we haven't experimented much with rental. the innovation and apparel is really exciting. of different ways that customer behavior has changed. rental is not something we and not spend much time on, but we are excited to see how excited the customer is to try apparel and buy apparel. emily: what about the threat from amazon? amazon is getting into brick and mortar and fashion as well. katrina: two can't underestimate amazon. amazon is an amazing company. we are on a different value proposition. so for us, i think there are a lot of product categories and nuance in the decision, so trying to find jeans that are
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just the cheapest jeans that are going to ship to you the fastest. that is not what people are looking for in jeans. they are looking for genes that will fit their body and makes them feel great and that is hard to do in filter and search. we don't underestimate them but we are focused on a different value proposition. lake, founder and ceo of stitch fix. impressive numbers to share. thank you so much. coming up, we dive into the health care space with one company betting that a.i. will one day take over the industry. that is next. this is bloomberg. ♪
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♪ scoop.now to a bloomberg pandora is considering a plan to sell its ticket fly business to concentrate on its streaming service. the company is still looking for a buyer for the entire company , but selling the ticketting business could be an option.
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pandora paid $450 million back in 2015. health care has been on the minds of many as the white house and congress push to overhaul what is known as obamacare. the outcome of the affordable care act will have a major impact on the industry, but some are betting that it will pale in comparison to the transformation underway, the rise of our artificial intelligence a machine learning. we sat down with the cofounder analytics and asked about the rise of ai. >> the way the health care system works is a system of inputs. we pay for services without understanding what it does for the patient, and the massive transformation is to pay for value, pay for things that happened of patients, so when a drug works or a procedure works, we pay commensurate for what it does for a patient. to do that come you have to to understand when a patient walks
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through the door, everything you know about the patient, the provider, the doctor, what is the optimum way to treat that person to get them the best possible outcome. the moment we do that, three things happen. the trillion dollars that are wasted, giving things to people that they don't need will be reduced. number two, you start creating very different incentives for doctors. how do we optimize what happens to this patient because we are getting paid a fixed fee. and most importantly, having much better outcomes for patients. and the only way to do all that is to have artificial intelligence bring the data together and help you to get to that outcome. >> it sounds like a great idea, but it is an industry based on the idea of interaction between a patient and a doctor. how do you change that? or do you? >> i don't think the question is changing it. if you look at the health care system today, for the most part for any disease that is remotely
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complicated, you have set protocols of how you treat a patient, so you have an may individual interaction with your doctor who makes some decisions. overall each hospital, each metal medical group, will have have things they think need to be done and the insurance companies are aligned of what they are going to pay for. we are not trying to tell doctors that they aren't doing a good job. what we're trying to do is that if they have melanoma, here is the path to treat them and do it within the framework of something that is defined by what works best for patients. and that is best for other patients. >> how hard is this to do? medical care and computers have not been easy to marry in the past. software and computers, when they first came income it was disruptive, but health care has been around for centuries. >> there is a massive misunderstanding and health care and that there is not enough data. in truth, there is an overwhelming amount of data in health care, data in health health records, wearables,
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behavior. the challenge is that data never talks to each other, and number two bank am a huge chunk is text data, unstructured data. so what we at rome have tried to do is we have built a platform that makes that platform easy and extract data from text. if you look at a health record and doctor prescribes you medication for any condition, understanding the context for why that was prescribed means understanding the text and the note the doctor put in there. that is the technology we are building, which we think is now for the first time possible because of the clouds and how much data is available and some of the things that my co-founders have built at this very university in terms of the technological platform. >> one of the things that scares people is that health data is very, very personal and doesn't seem that anybody can protect anybody's data these days. >> i don't think that is entirely true either.
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there is obviously hip a pa protection. the reality is we are not trying, the question is not can look at the specific level of data for one individual and tell you what to do. in a way, patience who look like one patient and will meet certain types of criteria will be getting these treatments. rare diseases or areas with very few patients, a could be challenging, and it is important that the government has a framework that evolves. we have a very outdated the one. challenge here is an privacy, but a completely different mentality of how you pay for care. emily: that was rome analytics cofounder and ceo. that does it for this edition of "bloomberg technology"," o." this is bloomberg. ♪
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