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tv   Bloomberg Technology  Bloomberg  August 25, 2017 11:00pm-12:00am EDT

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>> let's start with a check of your first word news your a national hurricane center says harvey has strengthened to a category 3 storm with wind speeds of 120 miles per hour. what is being called a life-threatening storm is fueled by warm waters off the gulf of mexico. harvey is forecast to make landfall in texas late tonight or early saturday. president is urging the public to prepare for harvey before it makes landfall. in a tweet today, he encouraged people to listen to local officials. he was briefed on the storm earlier today. president trump's state visit the united kingdom is more likely to happen next year according to the british foreign secretary who spoke to the bbc. prime minister theresa may invited trump over during a trip
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to washington earlier this year. back-to-back rallies in the bay area this weekend are expected to draw demonstrators and counterprotesters. thousands of officers will be on hand to police the event in the wake of the deadly white nationalist march in charlottesville. global news 24 hours a day powered by more than 2700 journalists in more than 120 countries. "bloomberg technology" is next. ♪ ♪
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emily: i am emily chang and this is "bloomberg technology." samsung's heir apparent goes from crown prince to cautionary tale after a judge hands down one of the harshest sentences for a top executive in south korea. what is next for samsung and who succeeds jay y. lee? our roundtable discusses. it is going down to the wire with alibaba a few billion dollars away from snatching the crown from amazon. we will break down the second quarter rally that closed the gap. they are not the only billionaires betting on outer space. we will look at how others are investing in the final frontier. he has long been considered the crown prince of the samsung business empire. now, jay y. lee faces five years in prison. a south korean court imposed the sentence after finding him guilty of bribery. prosecutors say he spent $6.4 million bribing the government. the conviction raises doubts
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about whether he will return to samsung, the company his grandfather founded. who takes the family mantle from here and will it set an example for other cases to come? joining us, our guest host for the hour, bob o'donnell. also with me in the studio, ian king who just came back from south korea. you went into the courtroom. jay y. lee was there. how surprising was this verdict? >> i think anybody who spent time in court like i did, including a lot of my colleagues, were surprised by this result because the prosecutors were doing an awful job. there is no other way to describe it. it was terrible. there was no smoking gun. a lot of the witnesses they brought up were destroyed by lawyers. it did not look like the case was being proven at all. that is the way it went almost until the end, and then we saw the result. emily: this verdict is even more
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of a statement from the south korean government, right? >> that is the explanation given by the pundits, that the south korean government had enough of this kind of cozy relationship that is arguably illegal. this was a statement they sent saying enough is enough. emily: bob, what does this say about the ongoing future power of the south korean conglomerate that have wielded an incredible amount of power? many executives before got off scot-free for the same thing. bob: they play such a critical part in the south korean economy that it will not change overnight. these are institutions built up over decades. tearing them apart if that does happen would also take decades. nevertheless, clearly this was a statement by the south korean government to say there is too much of this going on. the thing that is confusing for
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a lot of us in the u.s. is the structure is so complicated and so complex that even when you are there and realize there are companies named samsung something or other, they might as well be competitors. it is a confusing thing. you have this differentiation. somewhere at the top, there is this group of people controlling it. that is where jay y. lee was. that is why i do not think we will see an impact on the individual businesses and why shakeups would take a long time. emily: jay y. lee has said he will appeal. will he go to jail? will the sentence be suspended? >> it is longer than three years, and three years is the longest suspended system available. samsung is the biggest company in the group that contributes the majority of earnings for the group and south korea. he has been in jail. they have not allowed him out on bail.
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he had nothing to do with the running of samsung for months, and record profits and earnings. emily: do you think this will have zero impact? bob: i think it will. it is the nature of how the company is structured and how isolated the top groups are. a lot of this case was about them being able to maintain control over some of the smaller pieces so they could have a large voting right for the whole thing. as far as the individual businesses, there is nothing that is going to change. we have not seen any impact on the brand. samsung has been through the note 7 fire and now this. this is not going to do anything. emily: who takes over from here? he has a couple of sisters who have not been involved in the electronic part of the business.
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>> he was not running the company. he was not the c.e.o. they have professional managers for the divisions. those guys are still in place and making decisions. emily: we are told he had an impact on the vision of the company and dealing with regulators and building the global brand. >> he definitely had a figurehead role as his father did before him. with the designing the galaxy phone? no. emily: who takes his place? >> the argument is no one is necessary. he is not losing his stake holding. they are still there. this network is like a spider's web of holdings. it is still there. they still control and own samsung and the general mindset. their role in day-to-day management has not been important. now it has been taken away, we will have to see what the real differences. emily: samsung just released
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another phone this week. the big challenge for samsung going forward has been to make the software as powerful as the hardware. is that still the case? bob: i think it is. those efforts are happening within samsung electronics. all the key things they are doing are going to continue on. the bigger question longer-term is, does this lead to the breakup of a spider web? we could see that happen. i think it would take a decade. >> i think you're right. that is the risk. emily: the risk or benefit? >> you could see it either way. we've already seen the headlines, all of this fuss in south korea. this has been front-page news for a long time and brought down a president. if that filters into the way samsung does business, it is a problem. we have not seen that so far.
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emily: ian king, who went to south korea and saw it all firsthand. bob o'donnell, you are sticking with me. now, apple has cut at least a dozen apps made in iran. users are still able to access them on their phones but cannot download or update. apple becomes more of a digital provider rather than just designer. the services business has increased about 22% in the last year and is its second-largest unit behind the iphone. coming up, the ongoing battle between alibaba and amazon heats up. "bloomberg technology" is live streaming on twitter. check us out weekdays 5:00 in new york, 2:00 in san francisco. this is bloomberg. ♪
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emily: southeast asia's biggest ride-hailing is planning to invest in myanmar to tap into the growing use of smartphones. it is expected to spend $100 million to widen its battle with uber. it will roll out new services like the digital payment service. the president says he plans to expand staff fivefold to 200 employees. according to reports, indonesian uber rival gojack is raising roughly $1 billion from investors. it provides motorcycle rides on demand. it has become one of the most popular ways to get around in indonesia, especially in
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high-traffic cities. consumers in indonesia also use an app downloaded more than 20 million times since its debut in 2015 to get food and groceries delivered. the u.s. government is ramping up its use of blockchain technology, awarding more contracts which could fuel broader adoption across the private sector. joining me from london with more on how the technology is picking up steam, caroline hyde, as well as my guest host for the hour, bob o'donnell with me in the studio. how significant has the increase been? caroline: it has increased 13-fold since 2016. we are talking $1.3 million awarded this year. still, not to be sniffed at.
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it is not likely to blame dollars raised in terms of initial offerings. we are seeing cash being splashed by the united states government at the federal level, the state level as well. we are talking fully fledged pilots now. they like the underlying technology. it is the blockchain which basically means you and i can share a database. we can put real-time transactions in and ensure those transactions are correct. the applications are endless. hundreds have been identified by the u.s. government. therefore, we could see it in health care. we could see it in terms of identifying people, in terms of record-keeping. this is something across the department of justice. we are starting to see potential applications. emily: $1.3 million. clearly, the technology holds great promise. it is still very early days. there are big questions about volatility, reliability. what do you make of this? bob: these are a lot of proof of concepts.
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it is an interesting enough technology they have to take it seriously. they have to try a variety of ways to think about how we can potentially deploy this technology, how can we overcome some of that volatility. volatility around cryptocurrencies has been crazy. in a lot of other markets and places, you cannot have that volatility. they have got to figure out ways to adapt the technology and reduce the volatility. i think they will try it in different places to see what can work and what cannot. how they address the issues of managing the ledgers as they grow. that has been an issue for crypto coin mining. those are issues that have to be looked at. emily: how does the u.s. approach compared to what is happening in other countries? caroline: i think the race is on. in the u.k., we have seen adoption hinted at in march.
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we had the u.k. digital strategy announced. they talked about blockchain perhaps helping with identification. we've had the bank of england teaming up with ripple. they are looking at how they can employ the blockchain. in europe, in estonia, a tiny forward thinking country, it is looking at using blockchain and even issuing its own cryptocurrency to fund a sovereign wealth fund. they are using it in energy to test it. china has been looking at the central bank issuing a token. we have the chinese looking also at putting data online by blockchain. dubai wants all of its documents in blockchain by 2020. and then across south korea, japan, the list is endless. it seems as though the countries are racing to get ahead of the technology. emily: government validation could go a long way. if government organizations are
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testing this technology, could that also pave the way for increased business adoption across the private sector? caroline: i think it could. i think this would be a real validation. at the moment, the problem has been the link between blockchain, bitcoin volatility. there have been worries about its use in fraud, though gotten gains. think of it tied to the likes of the silk road, the dark web where people are able to buy drugs or the latest hack attack. if you start to see the likes of ibm and microsoft start to supply the government with blockchain data, blockchain technology, we could start to make that distinction between underlying technology, the ledger technology, and the cryptocurrencies.
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we are seeing a potential bubble. emily: caroline hyde for us in london, thanks so much. bob o'donnell, president of technologies, you are sticking with me. alibaba makes a push to catch amazon in the race to become the world's most valuable company. what drives the companies on opposite sides of the world? our interactive tv function. you can watch us live. you can go back to our interviews. you can send producers a message. this is for bloomberg subscribers only. check it out at tv . this is bloomberg. ♪
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emily: alibaba is closing in on amazon in the race to be to world's most valuable e-commerce company. shares of alibaba have almost doubled in price over the last year while amazon shares have only increased 25%. at $450 billion, the chinese company's work is just $7 billion shy of its u.s. rival. joining me in the studio, bob o'donnell. and from new york, selina wang. what do you make of this convergence in share price? we have a chart to show it to you. >> i think there are three main reasons driving the share price convergence. first of all, there is alibaba's larger user base, higher margins, and larger potential for growth. this is telling the bullish story of the chinese consumer. i think investors are starting to realize alibaba plays an integral role to the lives of
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chinese middle-class consumers. in addition to that, let's not forget alibaba makes a lot of money. its income far outstrips amazon. the higher margins are driving the bullish sentiment from investors. investors see alibaba as having more white space than amazon. alibaba has been rapidly expanding in fast-growing southeast asia and other international regions. not to mention world china. this is a huge area of green space for alibaba to push into and bring the rural chinese online, driving alibaba's bottom line. emily: is it fair to compare amazon and alibaba this way, by looking at their market cap? bob: it is tough. what we are looking at is sort of like comparing the chinese consumer economy versus the u.s. consumer economy. each of these companies are highly associated with the regions within which they play.
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they are compared because there are similarities. large e-commerce companies. they have made investments in entertainment platforms and services. there are interesting similarities. there are a lot of regional specificity each has. and there are unique characteristics on both sides. the other big point selina made that is critical is alibaba is making money now. amazon is investing a ton of money now. that is a big difference. alibaba is investing but not to the same degree. the bottom line looks much smaller for amazon. emily: we traveled to beijing a couple of years ago to speak with jack ma. there was some concern around that time that alibaba might be a lot of hype. what has changed when it comes to investor sentiment? >> investor sentiment has come almost a full 360 degrees over the last few years. late last year, it was foot on the u.s. notorious list of
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counterfeit goods. bear sentiment spiked over the last few years. there was the sec investigation and outspoken words from prominent short-sellers saying the whole thing was a house of cards. since then, alibaba has consistently beat earnings and shown impressive topline and bottom-line growth. it has come down hard on counterfeiters taking down a lot of fake websites as well as working with law enforcement to deal with that. there is some bearish overhang. the sec investigation is still ongoing. a lot of investors and analysts admit the financial disclosures are rather opaque. the impressive and compelling numbers are clearly asking them to overlook it. emily: where do you see the most potential, bob? they are tied to their regions but both aspire to be global companies. bob: if you look at amazon web
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services and what they are starting to do with alexa and other services, alibaba -- the manner with which they sell and approach it, it really does tie to the regional areas. in the u.s., you have a lot of companies moving their businesses to the cloud. it is happening in china as well but i don't think as quickly. it happened faster here. that is why i think amazon has some advantage. on the other hand, there is that huge chinese rural consumer selina mentioned with enormous growth opportunity that clearly amazon does not have. and then there is the regional story. alibaba in southeast asia, a huge growth opportunity. europe will be harder to crack, and other regions for amazon. emily: what is alibaba need to do to justify the share price and continued rise? >> jack ma is going to have to show they can execute and integrate on the gigantic deals
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made over the past few years. many have been a bet on off-line retail. amazon has also pushed in this direction. but alibaba has been doing it aggressively for a longer time than amazon. jack ma's vision is they will revamp this trillions of dollars of off-line retail and bring it into the 21st century. that means leveraging the data alibaba has to make the shopping experience easier. they have an incubation type of grocery store already executing on the seamless check out, allowing you to deliver in 30 minutes using warehouses. they need to show investors these billions pouring into other ventures will pay off and contribute to their bottom line and continue to drive that growth. emily: selina wang in new york, thanks so much. bob o'donnell of technalysis, you are sticking with me. coming up, the turmoil at uber
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continues. we will dig into the biggest headlines of the week along with top tech stories. this is bloomberg. ♪
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mark: i am mark crumpton in new york. you are watching "bloomberg technology." harvey is now a category three hurricane with maximum sustained winds of at least 120 miles per hour. the storm is bearing down on texas. >> it is a hurricane that is going to prove more dangerous than many hurricanes. not only are we going to be dealing with the high winds that typically come with what should be a category three hurricane, but we are going to be dealing with record-setting flooding in multiple regions across the state of texas. mark: harvey is forecast to make landfall in texas late tonight or early saturday.
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according to people familiar with the matter, special counsel robert mueller is examining what role, if any, former security advisor michael flynn may have played in a private effort to obtain hillary clinton's emails from russian hackers. the u.s. has imposed new economic sanctions on venezuela. president trump's action bars dealing in new debt and equity and the state-owned oil company. the u.s. is also banning transactions in certain existing bonds owned by venezuela's public sector. the u.s. ambassador to the u.n. says the interim force in lebanon is not doing its job effectively. >> we talk a lot around here about prevention of conflict. it is true there has been no conflict in south lebanon since 2006. but that is not the same as peace and security. since 2006, there has been a
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massive flow of illegal weapons to hezbollah, mostly smuggled in by iran. mark: the current mandate expires at the end of the month. there are reports of at least 14 deaths after fighter jets bombed the capital friday. the bombing was the latest in an escalation in the coalition's air campaign in yemen. on wednesday, at least 41 were killed when aircraft bombed a small hotel near the capital. >> they are prohibited under international humanitarian law that also prohibits indiscriminate or disproportionate attacks. we remind all parties of their duty to ensure full respect for international humanitarian law. mark: yemen's foreign minister tweeted the airstrike should be investigated by the coalition. i am mark crumpton in new york. this is bloomberg. ♪
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♪ emily: this is "bloomberg technology." i am emily chang. uber is reported to be slowing down its office expansion plan. the company said to be considering a sale of the oakland office building it purchased two years ago for a reported $123 million. earlier this week, we learned about the financials, including the fact that despite the increase in net revenue the company remains unprofitable. we also learned new details from the legal dispute among board members about who should be the new c.e.o. joining us, bob o'donnell and tom giles. what is the latest we know when it comes to the search for the c.e.o. and the boardroom drama?
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>> every other day, there is another bombshell. there is another filing. there is great animosity between travis kalanick and benchmark, one of its biggest investors. it is about how much control kalanick was to have over the country, his control over board seats, his involvement in operations. clearly what happened with benchmark according to the filings, they became more dismayed with the way he was running things, concerns about possible legal liabilities when it came to the auto acquisitions, how he is running the company, allegations of sexual harassment throughout the company and whether he had control of it. with these filings, you see the personal acrimony between these parties has gotten incredibly out of hand, incredibly toxic. emily: what is so fascinating is bill gurley who is on the board was so publicly supportive of
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travis for so long. and yet now, we are seeing all of this unfold. what do you make of the fact it has gotten so contentious? >> it is almost like a family drama. it is like the son that went bad and the father disowned him. it is kind of staggering. the bottom line is it was a company valued at $75 billion. guess what? there are a lot of people interested in making sure they do not lose their piece of it. unfortunately, we are seeing other companies who have some piece writing down valuations of their piece of uber. that is starting to freak people out. we are talking billions of dollars lost because of these actions. they want to get this figured out. and yet, there is so much distrust, so many challenges, it is hard to deal with. emily: they are growing when it comes to net revenue, but they still lose a lot of money.
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>> which companies do. amazon loses money every once in a while, and we don't give them a hard time over it. the sense we are getting is they are not being hurt too badly on the revenue side, on the growth side, from all of the internals of the boardroom drama, etc. is it affecting recruitment? we are hearing about that. in terms of the numbers we are seeing publicly, not a huge impact yet. emily: we will see how the numbers look for the current quarter, the first quarter travis is not there for the full duration of it. i want to talk about the samsung note 8 unveiled this week after greek drama last year with exploding phones and batteries. what do you think of the phone? bob: it is a great phone. i was at the event in new york. samsung started out with a sincerely done mea culpa addressing the concerns and showing the loyalty of their big fans.
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note people in general are huge samsung fans. it is a great-looking phone. it has a lot of capabilities. i love the display. it is compelling, grounded around the edges. when you look at that compared to the current iphone, so much better. obviously, apple will address that with the next phone. >> we just have a couple of weeks. they need to get the message out there. i have held the phone. it does feel good. it is hefty. the stylus is a nice touch. it has cool features. can they get the message out and the reviews out? can they get them in stores in time to beat the hype over the next version of the iphone which is going to have a lot going for it? emily: not to mention, the amazon/whole foods deal and amazon announcing on monday we will see price cuts at whole foods. i cannot think of anything more exciting. avocados have been so expensive lately.
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>> the most impressive thing is the deal is closing this quickly. it is a huge deal to close this quickly. and the fact we are seeing actual events this quickly. a lot of times when big purchases occur, there is big talk about what we will do eventually. to see this happen is interesting. obviously, the bigger question, it is easy to cut prices to get attention. how do they start to integrate? there are still a lot of questions that remain. despite the logistics and capabilities of amazon, no one has nailed grocery online logistics. that is the big question. emily: i am wondering if there will be a run on whole foods monday morning. >> we will be there. we were there looking at prices. we were there looking at how they were getting ready for it. we saw shipments of echos by one store in california.
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you will see electronics. we were the first to report that yesterday. emily: interesting. we will have to see what happens on monday. very excited for that reporting and my next trip to whole foods. tom giles, thank you. bob o'donnell, you are sticking with me. coming up, why the next battleground for the billionaires club is out of this world. we look at the multimillion dollar investments pouring in for outer space. this is bloomberg. ♪
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emily: microsoft says the new gaming console is the fastest selling xbox preorder ever. the company has yet to release
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specific sale numbers. the system costs $499 and microsoft is billing it as the most powerful console. it will launch in stores november 7. in the space race, it is no longer between the u.s. and the ussr. now a commercial contest is pitting billionaires against everyone else. they are investing in everything from commercial space travel to interstellar package delivery. there are over 225 private investors. ventures. space that is according to space angels, they network for space investors. we hear a lot about the billionaires and their efforts. how will smaller companies take on the big guys? >> that is a great question. i think we have seen some companies be successful already. spacex is a great example. they have -- in 2012, there was not much. the u.s. share of global commercial space launch was
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basically nonexistent. today, spacex is 65% to 70% of that market. they have done that by focusing on basic business principles and transparent pricing which i think does not get a lot of credit. emily: how do smaller companies take on the elon musks, jeff bezos', and richard bransons of the world? >> they are the big boys. i don't think the companies -- you're hearing a lot about the new small launch vehicles taking up small satellites. i don't think they are competing with spacex head on. they are picking up the gap in the market they are not addressing. spacex started with the falcon 1, a much smaller rocket. they abandoned the concept and moved on to the falcon 9 and
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larger vehicles that will help take us to mars. jeff bezos' new glenn is a similar breed. another company is taking up smaller satellites that spacex and the new glenn rocket are not addressing. emily: what makes the small satellite market such an attractive investment? >> it is a market that exists today and is large. you have a lot of incumbents. legacy aerospace companies that have been focused on the defense market for decades. they have gotten very large and have done things a certain way. we have seen new entrepreneurial ventures come in and start to shake things up. what normally has taken very large bus-sized satellites that
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cost $1 billion to build and launch, 15 years to put together, now we are seeing these entrepreneurial companies build these satellites for a few hundred thousand dollars, launch them for a few hundred thousand dollars. in doing so, they are able to cover more of the earth and get more data from the sensors. we are seeing a real proliferation of data from small satellite constellations versus the single, large satellite. emily: how would you characterize the level of regulation in space? would you say it is still like the wild west? >> there is a lot of opportunity. but i would not go as far as to say it is like the wild west. it has got a lot of regulation. there is a lot of regulation involved because space is used by all countries. and there are lots of people
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with very expensive satellites and operations in space. it is very important we keep the environment running smoothly. there is a lot of talk at the moment. we have been talking about the existing markets disrupted. but there are a lot of new markets being created. asteroid mining is one. lunar transportation and logistics is another. how does this fit within the regulation decades old into the outer space treaty written during the cold war and was meant to keep the government from owning the moon. emily: some have likened this to the early days of oil drilling or coal mining in that we may be polluting or disrupting the environment in space in a way we will learn decades from now was not good or safe. do you worry about that risk? >> i think it is something we need to be conscious of.
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the companies we see operating in space now, a lot of attention goes to the new constellations. we are putting a lot of small satellites in orbit. what happens to them when they are done? we have regulation in place that these satellites need to come down within 25 years of their life. most come down much earlier just through physics. if they launch from low earth orbit, say from the international space station, they are in orbit where there is some atmosphere and drag. they come down in six to nine months without any propulsion. in addition to that, we are seeing the small satellite industry come together and self-regulate. they are conscious of this, and they want to keep their highway in space open to keep their
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operations running smoothly as well. emily: chad anderson, c.e.o. of space angels, thank you so much for joining us. coming up, mayweather versus mcgregor in one of the biggest money fights in years. we will look at who will win out and whether the business could beat sucker punched depending on who prevails. this is bloomberg. ♪
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emily: the head of amazon's tv and film studio has been investigated by the company for allegedly making lewd remarks to a producer in 2015. the alleged victim, a producer on "the man in the high castle," said in a statement she did not want to discuss details but amazon investigated immediately and used an outside investigator. mr. price and his attorney did not comment publicly. an amazon spokesperson said we take seriously any question
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about the conduct of our employees. after months of hype, saturday is the big night. undefeated boxer floyd mayweather faces off against conor mcgregor. the fight is a rainmaker for both who could see figures of nine figures. he told us he is backing the underdog. >> boxing people are saying he has no shot, he will be annihilated. when two people square off who know how to fight, anything is possible. conor mcgregor has knocked out power in both hands. he can win this fight. emily: earlier, bloomberg markets spoke with paul sweeney and the former president of hbo sports who has worked on dozens of boxing fights. he started by asking if this is the biggest fight he has seen in his career. >> i think mayweather/pacquiao a
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couple of years ago at that point became the biggest. now, we will see. if tomorrow night, this does 5 million buys and eclipses that fight, yes, it will be. >> it is a lot more than we have seen. >> it is a lot more. this could be the biggest one. it is a big price point at $100. cable operators are salivating to think about the pay-per-view buys. this is expected to be a huge winner for the cable companies, the boxers, the promoters, everybody in vegas. a lot of winners coming out of this fight. >> if mcgregor wins, maybe he leaves the ufc and goes to boxing. what is the best result from the ufc's perspective? >> that is a great question. if conor mcgregor makes over
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$100 million, he has a small problem because he has never made more than $14 million. the entire business model of the ufc is to keep the payments to the fighters low and make more of the money for the ufc as an organization. he will get in a difficult bind with conor mcgregor, no question about it after this fight. >> do you think conor mcgregor, if he was to win, would turn his back on the ufc even though he said he will do both? what he turn his back on the ufc or not? >> i don't think so. at the end of the day, you need a floyd mayweather to make this kind of money. there are no other floyd mayweathers in boxing today and floyd will retire. pending some kind of rematch, connor will probably end up making the $14 million or $15 million in ufc fights or subsequent boxing events later on.
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i could see him doing both. but i think this is a long shot. i'm going to be honest with you. he is an amateur boxer going up against one of the greatest boxers in the history of the sport. so it would be the jets beating the colts type of upset if it happens. emily: ross greenberg and paul sweeney. still with me, bob o'donnell. all i can think about is the last time this happened two years ago, everyone was watching on periscope. that became the big controversy for the next 24 hours. back then, we did not even have facebook live. pay-tv operators and showtime will make hundreds of millions of dollars off of this. can they prevent people from streaming this on facebook? bob: that is a great question. i don't know if they can. clearly, you will have people watching and looking for that
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and trying to actively stop the streams. it is a real-time event. the whole world is now broadcast live. how they will stop that is beyond me. it does raise the question. pay-per-view in general, you have to wonder for live events how long that business model will work. long-term when everybody in the world literally is carrying a camera and they are at events and shooting video of it, there are going to be a lot of people say the quality is not great but it is cheaper than $100. emily: what is an alternative model? bob: you will see it get sent to sports bars and other places where people gather. the money numbers come down a great deal. i think this is going to be an archaic notion in the not-too-distant future. emily: who are you rooting for? bob: i do think mcgregor is a long shot. ufc fighting is completely different. who knows? maybe he pulls out some tricks
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we do not know about. it seems this could be another quick fight like the last one. that would frustrate a lot of people as well if they paid $100. emily: not if they were watching on periscope. i believe the periscope c.e.o. declared periscope the winner in the aftermath. we will be watching. squaring off in las vegas on saturday night. bob o'donnell, thank you for being my friday buddy today. thank you all for watching. that does it for this edition of "bloomberg technology." this monday, we will talk with a man who has devoted his entire career in cryptocurrencies and is one of the prominent investors in blockchain. a reminder, we are live streaming on twitter. that is all for now. this is bloomberg. ♪
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