tv Bloomberg Technology Bloomberg June 28, 2017 11:00pm-12:01am EDT
alisa: i'm alisa parenti from washington, and you are watching "bloomberg technology." let's start with a check of your first word news. president trump is urging congress to get moving on immigration reform. he met with immigration crime victims at the white house earlier today. the house votes tomorrow on the so-called "no sanctuary for criminals" act. the move is considered a bid to stop antagonizing the special counsel investigating links between the president pass campaign and russia. rex tillerson is clamping down on hiring. it's part of his push to overhaul his department. in a memo obtained by bloomberg
news, bureaus are ordered to suspend all transfers and reassignments and are barred from appointing new envoys -- bureaus are ordered to suspend all transfers and reassignments and are far from appointing new envoys. the u.s. will push for new security on electronics of u.s.-bound passengers. homeland security secretary john kelly said this is a reaction to intelligence that terrorists look to hide explosives in electronic devices. illinois lottery players won't be able to buy tickets after this week because of the state budget impasse.homeland securitn powerball ticket sales will be's is 9:00 p.m. tomorrow, maybe millions -- will be suspended at 9:00 tomorrow. global news, 24 hours a day, powered by more than 2700 journalists. i'm alisa parenti. this is bloomberg. ♪
emily: i'm emily chang. this is "bloomberg technology." blue apron lowers expectations and its valuation just hours before its trading debut. we will dig into the reasons behind the sudden reality check. plus, the attack continues to wreak havoc as its assault on networks across the globe enters a second day. we will do a deep dive on this latest virus. insight from outer space. on the new age of discovery. peggy whitson joins bloomberg from the international space station to break down the new race to orbit new worlds. first, a cyber attack similar to wannacry enters its second day, infecting computers in at least 65 countries, according to microsoft. the attack is being carried out by a virus that is crippling businesses, port operators, and government systems across the world as they struggle to take control of their networks.
the ransom warlocks -- ran somewhere demands -- the ransomware demands $300 in bitcoin to regain access. caroline, you've been looking deeply into this. talk about how much further we know this has spread. sheryl: it was -- caroline: we know that the number is building. unlike the want to cry -- the wannacry virus, there is no off switch, no immediate kill button. 64 countries is what some of the reports i am reading now from belgium to brazil, russia to the united states. all of it stemmed in the ukraine. that's where the virus first really hit. it seems to have taken more government institutions and central banks off-line, even a nuclear company was affected. real chaos at the root of this. you're looking at some of the key companies in europe. one of the biggest -- the biggest container shipping unit
in the world has significant issues. they had to shut down systems across the world, ports from india to new york affected. maersk said they are able to take new bookings, but you have to have an account with them. even companies like tnt express, a netherlands-based unit of fedex -- they are having so-called significant issues there, saying shipments are really being slowed. bnp paribas, the maker of a moisturizing cream also struggling to cope with the fallout. one thing that's really interesting is the ransomware part of it is not that effective. you are meant to be paying up to get access to your computer. courts have been looking at data.
bitcoin is only about $10,000 taken in the first 24 hours. that's about 2/3 less than we saw with wannacry. emily: what more do we know about where this attack originated? caroline: the epicenter where it kicked off seemed to have been the ukraine. how? still being debated. many people say, like the wannacry virus we saw last month, this is playing on a weakness in the microsoft operating system. that seems to be how it has spread so. ultimately -- so virulently across the world. it seems to have started in the ukraine tax accounting software company. i might add that this particular company has refuted that. they said they had no responsibility for spreading this particular virus, but notable cyber security experts have said they think this is where initially it was first rooted and then it spread through the windows update being
disguised as a windows update. it leached out from the ukraine. what's interesting here, when you look at the payments being made, why are few payments being made? some security experts are saying this is rather rudimentary cyber hacking. this is not a very efficient way of doing it. many feel this was not meant to raise money. it was meant to cause chaos. this is why, perhaps, the ukraine is trying to point the finger at russia, and why nato is now involved. emily: i want to bring in jon miller, senior manager of analysis at the cyber security firm -- at a cyber security firm. what more can you tell us as far as what you've learned in the last 24 hours? john: the key thing about this malware is that it has been able to proliferate as quickly as it has using a very clever combination of known tactics and tools.
essentially, the attackers used a ransomware capability that was known and a couple spreading methods that were previously known, bundled them together in a creative way, that, as we've seen over the last couple of days, a lot of organizations were not prepared to handle. emily: how similar and different is this to what happened with wannacry? john: this is similar in that the attackers are relying on the malware proliferating itself to new areas of compromised networks. the way it is different is, first of all, the malware uses a combination of methods for sprinting -- spreading itself, rather than just one, which is what we saw with wannacry. the malware both encrypts victims' files as well as prevents them from booting their machines, which is a bit more serious than what wannacry would typically due to a compromised system. emily: what are you here he from businesses, especially in europe, about how crippling this
has been to their business? -- what are you hearing from businesses, especially in europe, about how crippling this has been to their business? caroline: this has been destructive across the united kingdom's health service, for example. they cannot access their computers correctly. no wonder, you saw shutdowns -- no wonder you saw shutdowns of networks for the likes of fedex's tnt express. this is wholesale business damage that is being done. this is more than 24 hours off-line for certain companies. this is why it has been quite painful for many of them. emily: so, john, in this moment, what should businesses be doing? whether you are affected or not affected and you don't want to be? john: first of all, organizations can take a look at the characteristics of the specific malware payloads that
have been identified. luckily at this point, we've been able to do a great deal to understand what exactly the issue is here. organizations need to be watching closely for any evolution or new developments in this campaign. there is some baseline measures that organizations can take to defend themselves from any ransomware, such as having a robust backup. emily: hackers are always one step ahead. how do you see ransomware in evolving? what's next? john: the interesting thing about the rise of ransomware over the last few years is that the criminals behind it are excellent business analyst, in the sens -- analysts, in the sense that they do a really good job in evaluating where they need to invest and where they can take advantage of situations where businesses have not been able to implement defenses against known threats.
what we see with this virus as well as wannacry, to some extent, is that happening. the criminals we see operating these tools are taking advantage of known tools and known tactics and being very successful because the organizations that they are compromising have not been able to fully defend themselves against these methods yet. really, organizations -- go ahead. emily: with wannacry, it was interesting. they did not manage to rack up that much money. is this any different? john: we've seen a similar situation here. we are really -- the return on investment for the attackers has not been all that high, which could indicate that perhaps these attackers were out of their depth and didn't really know what to expect in terms of an infection-base as broad as they have achieved. emily: we will leave it there. john miller at fireeye and our very own caroline hyde. thank you both. a story we are following now, president trump has always been
vocal about fake news on twitter. now he is taking on jeff bezos. again. earlier, trump tweeted -- many were left unsure of what president trump actually meant by this twe and theet -- tweet and the "taxes." the company collects taxes in all 45 states with the sales-tax and the district of columbia. a reminder that amazon ceo jeff bezos bought the washington post as an individual. amazon is not involved. coming up, more on amazon. its reign is under siege. how the e-commerce giant will manage to stay on top. that is next. if you like bloomberg news, check us out on the radio. you can listen on the bloomberg radio app, bloomberg.com, and in
emily: the fallout continues for binary capital. the last remaining co-founder has offered his resignation to the firm's investors. in a letter of turned by bloomberg, he told the firm's lp "if the investor group believes my removal serves the best interest of investors, i will respectfully resign." the venture capital firm has
announced it -- is also shutting down its most recent fund. investors have agreed to this. this after another cofounder resigned amidst allegations of sexual misconduct, as reported by the information. binary had raised about $175 million for that fund, but very little of the money had been invested and will be returned to the firm's limited partners. questions remain about how the firm will handle its investments made from the first fund. amazon is facing major competition from millions of mom and pop shops across the u.s., with walmart, among others, successfully cornering many of the same merchants. amazon is holding its own me and greet with 1500 merchants in new york, in the first such event since the company open for business more than 21 years ago. joining us now, spencer soper, who attended the event and covers amazon for us. after more than two decades, why now? spencer: amazon is realizing that it has to give its sellers more of a personal touch. the entire system selling on its market place -- there are 2 million merchants that put products on amazon and sell them
through that system. you are buying from them, not from amazon. amazon is the go-between. that system is very automated. you go online. you register as a seller. you post photos, that sort of thing. there is not much of a human connection. amazon is trying to give sellers what they want, which is more of a personal touch and an ability to learn more about ways to sell on amazon. emily: why do third-party merchants matter so much to amazon? spencer: it helps them keep prices low, because you have merchants competing with one another to sell the same things. it also helps keep the inventory fresh and brought.
they want to sell as many things as possible. about half of all products sold on amazon are through the marketplace, purchases made from these smaller businesses selling on amazon and not from amazon directly. it's a very big deal to them. what they are trying to do now is promote amazon as an avenue, not just to reach shoppers in the u.s., but also to use amazon services to reach customers globally. that was a big push at the meeting today, encouraging sellers who had some success selling things on amazon, reaching customers in the u.s., to encourage them to use amazon services to sell to shoppers in europe, china, brazil. they offer a lot of services like currency exchange rates to simple five the process for smaller businesses who might think it's too complicated. emily: i've got to ask you about this amazon/washington post tweet from president trump. "the #amazonwashingtonpost -- amazon does pay state taxes, as we have discussed.
what is the president talking about here? spencer: i wish i knew. there is this funny relationship between trump and bezos. it goes back to his election campaign, where this became a good deflection from any critical story in "the washington post" about president trump. trump could tweet something and say jeff bezos is worried about me coming after him because amazon is getting so big. it's hard to understand exactly what he means. it's most likely sales taxes on online purchases. it used to be a very big deal for amazon. it goes back to a 1992 supreme court ruling that said it is too onerous to expect business to know all of the tax laws in a every little town and state around the country. if you make a purchase across state lines, that merchants
selling to you either online or through magazine catalogs does not have to do the sales-tax. it's generally up to the shopper to do that as part of their taxes at the end of the year. no one ever does it. it's become a much bigger deal as shopping online has grown. it's not such a big deal for amazon. there was a requirement about whether you have a building in that state, some sort of physical presence in that state. additionally, where houses were in small states near big ones to get advantage -- additionally, amazon had warehouses in small states near big wants to take advantage of that. emily: all right. it's interesting timing, given that the president just met with jeff bezos last week and the amazon/whole foods deal is pending. we will continue to watch the president's twitter feed, as we do. bloomberg tech reporter spencer soper in new york for us. quick programming note. tune into bloomberg on july 4 at 8:00 p.m. eastern where alix steel, carol massar, and matt miller will cohost the boston pops spectacular live.
emily: as we've been reporting, the virus spreading throughout the globe, infecting businesses, port operators, and government computer systems. the ceo of one of the world's largest robotic makers says cybersecurity is now central to the company's business. the ceo spoke exclusively with bloomberg in china at the unveiling of the company's new digital strategy for the region. >> the driver for robotics, there are three key buckets in china. one is the labor situation. the second element is quality and productivity. the third part is safety and health. all of this together makes china today the largest robotics market on this planet, and it will be the largest robotics market for the next 10 years. abb has invested early.
>> how would you characterize the level of competition now in china amidst the robot makers? >> we are fully committed to keeping our number one position for the years to come. we are the only robotics player in the world that has a combination of artificial intelligence application, not only in robotics, but in process control opportunities. the use of ai today is spreading very quickly in abb. we have are two armed robot -- have our two-armed robot that can now solve the rubik's cube in less than two minutes. that would have been unthinkable just 10 years ago. >> there is increased skepticism now that the administration will be able to put through its infrastructure spending plans. we've seen that reflected in the imf producing its forecast for the u.s. how much of a missed opportunity is this, do you think? >> if we look at the u.s. infrastructure situation
long-term, the u.s. will need to invest in the energy infrastructure, the electricity infrastructure, the road system, to really have a competitive platform going forward. at the moment, it looks like there are a couple of ripples in the system. it's not going as smoothly as anticipated at the beginning of the year. my wish is that it will be sorted out very quickly and that the ability in the system that gives a good platform to really believe in going forward. >> to what degree do you see reduction in political risk in europe, given the election of president macron in france, or does the question of brexit overshadow the perceived reduction in political risk and the more positive economic fundamentals we are seeing? >> i think the risk scenario has
improved from the beginning of the year. the beginning of the year, we didn't know how france would come out. the german situation was a little bit wobbly at that time. france is now sorted out. we know how the french government will be set up. there is a clear agenda going forward. it looks like in germany the predictions are also that it will be a quiet -- quite stable and predictable environment. the brexit situation is very unfortunate from our perspective, but we create a lot of uncertainty and insecurity. that's something we have to overcome as politicians going forward. altogether, i would expect, towards the end of this year, europe to be quite stable going into the next year. >> how much of a drag has the weak oil price been on the oil and gas part of the abb business? >> we had a massive, massive downward contraction in many of our customs. in the marine segment, we are very strong in oil and gas supply vessels. this is something that we have dealt with. i am pretty proud.
this was a highly profitable segment in the past. it contracted massively. we have kept the topline steady. we have held the margin up well, even increased it. the team has done a good job in this environment. emily: that was abb's ceo. coming up, apple will celebrate the 10 year anniversary of the iphone on thursday, but will it continue to be the company's moneymaker? the latest predictions. this is bloomberg. ♪
>> i have the latest first word news. u.s. security officials are demanding airlines around the world step up checks on all orghts headed to america face a total ban on electronics in planes. homeland security secretary john kerry said it could lead to the lifting of the ban on devices already in place for u.s.-band airlines.und president trump's reworked travel ban is said to come into effect at 8:00 30 p.m. eastern on thursday.
onty: 30 p.m. eastern thursday. 8:30 p.m. eastern. were told the timing is to allow embassies and consulates significant time to carry of the order. the government is trying to balance keeping prices high enough to support domestic minors while keeping the below levels that power produces. the impact may be minimal given china's overcapacity and indonesia could take a hit. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. juliette: checking markets midsession here in asia, we have cominghat strong lead through from global equity
markets and really run with it, so we are seeing a good game. singapore leading the index up by 1%. a lot of markets looking very up by overng kong 200 points. you are also seeing a lot of positive momentum coming through in the currency markets today. a little bit of downtown in the dollar, but we had a lot of central bankers from europe to the u.s. indicate that rate are likely to go higher. we also had a fairly interesting picture from the pboc today, the of against the dollar and australia's dollar up. we have, though, seen a lot of momentum coming through from banking stocks. banking stocks is really what leads to the s&p 500 index on wall street overnight coming off from its biggest selloff in six weeks. this after a number of the large u.s. banks pass the latest stress tests.
hsbc looking very strong in the hong kong session. looking at currencies, also quite strong. across asia markets, it's lunchtime. emily: this is "bloomberg technology." i'm emily chang. thursday marks 10 years since the iphone was released to the public. sales of the device continue to make up a large portion of apple's revenue. about 60% since 2011. gene munster predicts that iphone sales will peak in 2019 and be replaced by an entirely new product. joining us now from new york, long-time apple analyst gene munster. with me in san francisco, mark gurman. you think that apple ar glasses are the apple product of the future. what, when, where, how, and why?
>> we are filling in the blanks here. what we do know is they have launched ar kit. we know the next iphone is going to have a 3-d mapping chip that's going to be especially geared for a premium ar experience. we know apple has done acquisitions. so, when you think about those three together and also think about the most logical use case for ar is some form of a wearable, despite google's problems with glass, it seems logical. three years is a best guess. we feel confident apple will have this new product category, but the timing of it is a guess. emily: you've done some reporting on this. google glass, not a success. snapchat's spectacles, not a success. how will this be different? >> the wearables -- it is apple's next big product category.
how will they differentiate? apple comes from a unique position where they bring the hardware expertise from making small devices like the apple watch and the iphone, but they also have the software. google did not have a operating system it could apply to its device. android was still in its infancy when google glass came out. emily: what are the use cases? is this something gamers would wear? is it something you think is more mainstream? >> i would point viewers to a story from computerworld. he maps out 12 use cases for augmented reality, much more than gaming. anything from remote assistance to architectural, being able to see buildings before they are designed. art, medical emergency services. one that i love is turning humans into robots. there is this company that allows service providers the ability to do estimates remotely so they don't have to get in
their cars and drive around. what's important here is that they have an army of developers. we are just scratching the surface a few weeks into this. that base of developers will come up with ideas beyond what we are talking about today. emily: is it something people actually want to wear? >> that's a good question. i remember tim cook a few years ago, before the apple watch came out. he was asked about wearables. he was hinting their wearables would be a watch. he said he wears glasses because he has to, because he can't see without them. when these things hit the streets, there will be a lot of people pulling up that comment from cook and saying he would never wear them, now you see him wearing them on stage. it's going to be ironic. i think there's a market for it. it's going to eventually replace the iphone. you will be able to make phone calls, get maps, applications. to your early question about gaming, gaming will be one component of it, but gaming is really tuned to vr experiences
being fully enclosed. i don't think gaming will be the big focus. i think you will be more driving information to your eyes, quickly can't -- glancing at things, getting directions. emily: you guys are very bullish on this. gene, what about the iphone? how do you expect iphone sales to peek at -- play out? i know you think they will peak in 2019. gene: the next cycle will be wonderful for apple's iphone. probably units of 12% to 15% after essential being flat for the last year, but i think that is probably the last big cycle. i think that's probably the last big cycle. when we start fast forwarding to a couple years from now, i think they will have difficult comps. that naturally gets us to fiscal year 2019, calendar 2018, something more or less flat year-over-year.
then you start getting into 2020 and 2021 where some of these wearables come out. the number of sell it -- units is very small. it's not going to quite a road the iphone, but i think that as the utility of these wearables becomes more clear to consumers, that will start to chip away at the iphone experience. they will both be around in 10 years, but the iphone will be a much smaller business. emily: what do we know in terms of how we expect the iphone to be spiced up this next time around? >> it's going to be a big update, one of the bigger updates. they will be doing three new phones, the seven and seven plus right now. they will update those with better processors, faster cameras. there is a new model that people are excited about. some call it the iphone 8, some the iphone x. the heart of it will be this screen with deeper blacks and whites.
it will look clearer, crisper. it will be bigger. it's all going to fit in the iphone 7 size formfactor. emily: we got some comments from tim cook where he, for the first time, really it knowledge apple's ambitions with cars. we know apple has a deal with first -- first -- has a deal to lease 16 cars. gene: a lot of my expectations are following mark's lead. our belief is there are three essential routes. one is to do a car entirely themselves, the second is to do a software, and a third is to do some sort of fleet opportunity. i've had a bad prediction around apple and the tv's, so i'm reluctant to say that apple is going to have a car, but i would say it's very clear this is a big market. 90 million cars sold. apple wants to have a place in this. i don't think they have their plan in place as far as how they are going to address that market.
our expectations over the next five years do not include any revenue from apple car. emily: how about air pods? are these a closet hit? gene: they definitely are. i think this will be the sneaky product over the next five years. i think it's going to become much more of an augmented hearing product. we call it a here -- hearable. you will be able to be in a loud bar and be able to zero in on a conversation, tune out some of the noise around you. they have a lot of patents around the ear can now. -- ear canal. we think the ear pods will be -- the air pods will be bigger than apple watch in the next five years. emily: they are not necessarily stylish yet. >> i don't love wearing them. sometimes i will put in the wired lightning headphones if i'm going for a jog. the utility is very strong.
there's a lot they can do on the software side to improve the uses. i saw a lot of people talking about the augmented hearing concept. i think we are still early there. if we were going to see anything big, it would be with the homepod. but the future is long. emily: mark gurman, gene munster, great to have you on the show. >> thank you. ♪
messaging market. more than 2/3 of the population use tencent's two messaging apps for everything from texting to shopping to watching videos and ordering food. according to venture capitalist mary meeker, chinese users collectively spend 1.7 billion hours per day on tencent's apps. our senior executive editor brad stone traveled to china to find out more about 10 sent -- about tencent. there is not a good comp here in the united states, right? brad: it's not just the messaging service. it really is a portal -- that's an old word -- to the entire internet. you use we chat to hail vehicles. wechat pay is used by 600 million people. online dating. people have begun to think of it as an internet platform and a
challenge to mobile operating systems like ios. it's that powerful. emily: you got where access to attend -- a tencent executive. tell us about him. brad: tony ma is very reclusive, your typical shenzhen businessman, does not like to talk too much about his company. martin lau is the coo, the president of the company. he is considered the cheryl sandberg -- the sheryl sandberg of the business. when the company was negotiating last year, he flew 10 hours to helsinki, ill, had a fever, and played a game so frequently on the trip that he scored the 97th highest score in the world that week. he played supercell engineer and won. lots of different talents. he's one of the managers. emily: quite a skilled gamer, too. good to know. does tencent have a chance to expand wechat internationally? brad: the easy answer is no.
it's an indigenous known -- indigenously chinese app. lots of stuff crammed into wechat. in the west, we tend to have one separate app for all that we do. martin lau admits this, that they have to take another path, and that path more recently has been investment and acquisition. emily: tencent attempted to buy whatsapp. what happened? brad: they saw the opportunity. martin was going to travel with tony, who had back surgery and couldn't travel, then mark zuckerberg swooped in and paid considerably more than they were considering. tencent has invested in snapchat, tesla, a german mapping company. the list goes on. in china, it is considered to be an offer you can't refuse to get access to the wechat ecosystem.
there is kind of a soft power at work here. despite the products being only popular in china, tencent, along with softbank and alibaba, is one of the biggest investors in the global internet space. emily: how else might we see tencent expand its footprint internationally? will we feel it in the u.s.? brad: i think as an investor. this is where martin lau is particularly challenged. the messaging game is almost over. it has played out around the world. technology is moving in a direction where tencent has to struggle to follow it. they're making a lot of investments. that's what the tesla investment is about. this is a company putting its capital to work, but it will have to consider carefully to -- how it expands from a product perspective. emily: facebook has made major unexpected, bold moves. brad: facebook has a challenge in china. these two companies are dancing around each other. what is tencent's boldest move? an acquisition of the kind they
lost out to with whatsapp. martin lau told us he wanted to make a more strategic investment in snapchat a couple years ago. evan spiegel was uncomfortable with that. i think they have to find an asset overseas, not just a video gaming company, where they can make a little bit more of an impact. emily: our bloomberg senior executive editor brad stone with that news story out in "business week" -- "businessweek" this week. turning to stocks, it was quite the bounceback day for the nasdaq, posting its best day since the u.s. election. it's now on pace for its eighth straight month of gains. if that holds, the nasdaq will post its longest monthly winning streak since september of 1995. today's edition of tech's revolving door, a former uber executive is heading to the dnc.
he worked as a top engineer at uber's self driving program. he will be the democratic national committee's next chief technology officer. the organization wants to improve its tech to attract more voters and strengthen its cybersecurity. last year, russian backed hackers leaked emails from then chairwoman debbie wasserman schultz. coming up, and interview from space with peggy whitson, the first female commander of the international space station. and a quick programming note. this thursday, u.s. secretary of interior ryan zinke will appear on "bloomberg daybreak: americas." as the white house rules out programs and initiatives for its energy week. catch that conversation at 8:30 a.m. eastern time. ♪
emily: a u.s. court has been told that oracle discussed buying a data analytics company last year. an investor told the hearing that peter thiel even met with the oracle founder to discuss the possible acquisition. the company is being sued to gain access to internal records. they are accused of blocking the efforts to sell part of the state in the company. back in the day, nasa was the only game in town when it came to u.s. space exploration. now there is spacex, blue origin.
are they competitors or partners in the race to test beyond the bounds of the earth? peggy whitson joined "bloomberg daybreak: americas" from the international space station and talked about how public and private programs have evolved. peggy: at the place we are right now, the government can do more, but that is, for instance, we are seeding some of the money for the commercial providers, spacex and orbital atk are providing cargo up here to the space station. hopefully in the next year or so, we will be getting crews supplied by spacex or boeing. so, i think the commercial -- the government to commercialization is transitioning right now, and it's fantastic to see the cargo coming up on all these different vehicles. i really do think it's the future. just like aviation, it has to
expand in order to be really prolific and having these programs in place now is definitely a stepping stone for further development. that allows the government then to spend more money on going and expanding -- exploring beyond low earth orbit, which is what the current limitations are planned for for some of the commercial providers. and we do hope to encourage them to continue on actually into further deep space as well. >> let's go beyond lower orbit. there's a lot of talk about colonizing mars. you have been living in fair amount of your life now over the last 15 years. is that a realistic goal to set, to actually have a colony on mars? peggy: i do think it's a fantastic goal to have. we should have colonies on mars and the moon. we should be expanding and
exploring even further. yes. i think it's going to take some technology development. we are going to use the international space station here to perfect some of those technologies. for instance, if we go on a multiyear mission to mars, we need to be able to have a closed life-support system, which means we need to be able to process our urine and make it into drinking water. we do that here on board the space station. you know, we are at about 85% of what we call closing the loop of life support systems, at least in the water balance system. so, it's very exciting to be part of those investigations, those testing, engineering and testing going on up here right now. emily: nasa astronaut peggy whitson, speaking from the international space station. finally, alibaba is tightening control of online shopping mall -- it is investing another $1 billion to raise its stake to
83%. lozada is headquartered in singapore -- lazada is headquartered in singapore. that does it for this edition of "bloomberg technology." on thursday's show, a former apple executive known as the father of the ipod will join the show on the 10th anniversary of the iphone's release. bloomberg technology is live streaming on twitter 5:00 p.m. in new york, 2:00 p.m. in san francisco. this is bloomberg. ♪