tv Best of Bloomberg Technology Bloomberg September 16, 2017 6:00am-7:00am EDT
♪ chang, and this is "the best of bloomberg technology," where we bring you the top stories in tech. coming up, the iphone x is here, featuring edge to edge screen and no home button. the price tag,. $1000 plus, the green light. the u.s. appeals court clears the way for wamo to go to trial over claims that uber stalled tra -- stole trade secrets. plus, another bloomberg exclusive.
the blue apron ceo discusses a transition from unicorn to publicly traded company, life after an ipo, and the meal kit company's strategy for fending off growing competition. but first, to hourly. apple ushered in a new era for the iphone tuesday at the new steve jobs theater in cupertino, california. ceo tim cook unveiled a suite of new products, with the much-anticipated iphone x grabbing the headlines. >> iphone x, the most advanced iphone we have ever made, with incredible new design, face id, true death camera system, and more powerful technologies than we have ever put in an iphone before. it really is the future of the smartphone. emily: apple also rolled out an updated watch with cellular connection and a set-top box that supports higher definition video. we spoke with mark gurman and our editor at-large cory johnson to get their first impression of apple's new products. >> it's really -- it's a nice
phone, edge to edge. i'm said that it doesn't go on sale until november, as a fan of the product, and as an investor it misses a whole quarter of sales. but yes, it is nice. emily: in terms of the product itself, it is light, small, especially if you have been carrying and iphone 7. what struck me was the height of the screen, you don't have to scroll so much to see what you want. and the facial recognition technology is key. >> i was able to set up my own face, you twist your head around it twice, it is quicker than putting in fingerprints. i feel like i was the first person to enroll my face, because i was trying to do it. it works really well. if you have a touch id app, it will automatically convert. well,ntegrated it really and you can see more video. emily: so corey, i know you will be getting your hands on one
soon, i'm sure. but from your perspective, you are looking at the big picture. how big of an upgrade cycle do you think this'll actually be given, that 80% of people who will buy it already have an iphone? >> obviously the biggest change in iphones ever was not having a phone and having a phone, and that happened 10 years ago. it's a big upgrade cycle that they are facing an opportunity for. one of the thing apple has found over the years is when people upgrade from an iphone to another iphone, it's a system in so --they tend to stay, when people leave an android they will quickly switch to an iphone. overtime they grow larger and larger. the time between buying phones has been growing longer and longer, which suggests that the upgrade cycle could be a big one for apple. but the question is -- the unanswerable question is will t
he consumers really feel the need to get this new device? these bells and whistles seem to be nothing to experience with your phone, but something looking at your neighbor, that will help them to sell this phone. the thing marcus mentioned, the thatl recognition stuff, might be a more pleasurable experience for the user but it is something the person will see and respond. emily: it is a significantly different new formfactor, new haven, several analysts suggested to me that it might discourage people from buying the iphone 8. why would you buy it if you could spend a little more and get the most expensive? i was speaking to gene munster who was here at the event, and he said, nevertheless, it will be a home run. what do you think? >> talking about the 8? the x will be a home run, i
agree. emily: the 8? >> [laughter] [applause] i don't kno i don't know why anyone would buy it. they raised the price, and you are $300 between the 8 and x. you look at that in terms of dollars per month, that's probably five dollars or six dollars more per month. i don't know why anyone would not get the x on an installment plan. that comes back to why the delay. how many would be available in stores? but if they wait, they have more capacity, they have more people, giving more factories. i think they are saving up for a big november 3 launch. emily: and it will be available in many more countries than it typically is on the first day. >> is a lot of ways happening at the same time, three new phones, multiple countries per wave, a
big expansion. emily: i want to talk about the apple watch. they really emphasized the health features of the apple watch, the sports feature, they introduced the watch with a surfer wearing the watch while riding a wave in getting a call on it. obviously i know you are obsessed with fitness trackers. apple said today that this is the most popular watch in the world. but what is your take on just how much bigger a product category the watch can be? >> the iphone watch was launched with an i don't know business plan. they threw a bunch a stuff out there and wanted to see what would sick. dr. oz was there when they announced the watch, and we got to cover that event. they have always thought that health would be a part of it, for what they have since figured out that it was fitness that drove the sales of their devices, and indeed the fitbit.
they had a lot of success with that product, focus primarily on fitness. we see that apple has figured out, as much as they thought fashion would be a part of their watch, fitness is in fact the thing. certainly showing off the water proofing that other computing devices don't have in a very big but alsot paddling -- surfing and swimming and everything else. emily: right. if you are in hawaii, in tahoe, apparently it works. let's talk about the apple tv set-top box they demoed. the demoed the four k capacity -- the 4k capacity. it is impressive, but not if you don't have -- >> you asked me, were there any surprises. this is a big shock to me. if you have 1080 p video in your itunes library, they will convert those to free. that is not something i would have imagined apple would do.
typically it's a different video quality. they're upgrading them. then when you buy ne they will charge youw the same price. it's a great thing. emily: bloomberg's cory johnson and mark gurman. did rush into the demo room right after the keynote, got his hands on the new iphone x. take a look. >> we do have one more thing -- [cheers and applause] we are here at the steve jobs theater at the new apple park campus. this is the iphone x. you can see it has edge to edge screen, a notch for 3-d, face recognition sensor. on the back it has the glass back, stainless steel edges, it looks really nice, well-lit screen, which makes colors pop. they split the status bar,
wireless charging on the back. overall, the screen is a little bigger than the screen for the lus, but overall it feels like it's about the size of an iphone 7. because of the super slim bezel. people have been asking about the side button, it is longer. you can hold it down to get siri. also, double-click for apple pay. now to go home, you just wipe from the bottom. you can do multitasking as well, swipe between different apps. you can see so many more messages at once, it is great for video as well. the iphone x goes on sale november 3 after preorders through the end of october, starting at $999. there is a 256 gigabytes version as well.
mark: bloomberg technology herrmann, giving us the first look at the new iphone x. up, president trump has blocked the chinese backed investor from buying a u.s. chipmaker on national security concerns. we will discuss what it means for relations between the countries. plus, we speak exclusively with the blue apron ceo, post ipo, and the new strategy for fending off competition. this is bloomberg. ♪
emily: social media is now a "red hot focus" of special counsel robert mueller's investigation into the 2016 election and possible links to president trump's associates, according to u.s. th officials. how are zeroing in on russia spread fake in damaging information through social media. 's team is seeking additional evidence from companies like facebook and twitter about what happened on their networks. last week it was revealed that facebook had discovered $100,000 in ads connected to fake accounts, likely run by russia. president trump has blocked a chinese backed investor from buying oregon-based semiconductors, the first time in a quarter-century a u.s. president has halted a foreign takeover of an american firm because of national security risks. the spurned buyer is canyon bridge capital partners, a
private equity firm backed by chinese managers. we spoke to our editor about this story. >> a very small company, nothing in the market cap. they make programmable -- >> programmable watches. >> that's right. >> these are the kind of things that companies can use, they don't have to design the whole chip, they can just make it do certain stuff. >> these chips have traditionally been used when you have to design another chip, you knock it out, see how it works, then away we go. >> they use it because it has a lot of actuality. then you specify it was to have done that. >> yes, you can change the function after it has been locked out. >> it's all complex, but it doesn't seem -- >> no. this is a company not a large company,. the product itself, you could
argue, could be used in various ways that could be useful for the military. the we are talking about is broadening of this sisyphean purview, the hardening of the sedans of washington for china. orto france -- if france germany did it they might not face the same pressure. >> that would be the case. itself,echnology in there is a suggestion that some of it could be embedded to the monitoring use, if a company could somehow see what's happening, if they were disseminated through the marketplace -- >> there's an element of that in the networking equipment. >> 28% of revenue. fpdas, bute
ofin, i want to stress, course security is the stated reason, of course security is the reason when we look at these things, but fundamentally, the u.s. semiconductor industry, the u.s. government does not want china coming in and taking those key capabilities away from it. >> loss competes in this area? >> intel. alterra. alterra was a lot more focused on networking and bigger. >> they divide the market between them. >> is there a notion -- there seemed to be a suggestion that it was being used in a lot more stuff than it used to be. i thought of it at the time as kind of an accelerator into a networking chip. >> this has always been the argument, that these chips have had a specific use case, narrowly confined to
communication, but even more narrowly confined to chips. this suggestion was they were going to get into data centers. microsoft is using them in data centers right now. that is happening, but not very quickly. i think a broader point here is we have seen the chip industry consolidate massively, and we are down to 60% market share for the top 10 companies. essentially the market has shrunk. china needs to get into that industry, it doesn't have anybody in that top 10 for semiconductors. it will throw a lot of money at buying expertise, buying into domesticated industries with things like we have seen today. >> it seems that it would also limit the ability of all the other semiconductor companies to get higher prices in the market, with the notion there might be a chinese bidder. >> if you are a company like lattice, from scale, what do you
do? everybody else is getting together, you haven't been bought and you can't buy anybody else, where do you go? one haven was all this money that china had said it was going to spend, that will be our rainy day fund. emily: our editor at large, cory johnson, with ian king. coming up, why we may see self driving trucks on the road before autonomous taxis. will hear from the ceo of waymo, next. this is bloomberg. ♪
employee of both companies took thousands of prior terry files from waymo to uber. the judge also ruled that waymo will get access to a key piece of evidence, a report that aims to scrub him of any of google's proprietary information, and examining uber's acquisition of his company for $680 million in stock. cory johnson spoke with him about all things uber. >> a very influential engineer at google, he starts this self driving trucking company -- >> all these self driving trucks, what's that all about? >> there's a whole message about monetize a bowl sooner, but then uber buys them less than a year after he left google to become the central -- >> the auto trucking company. but they are not pursuing it at all, they just want to go back --
>> over's focus -- uber's focus is self driving cars, and they want to put that at the front of the effort. to see if theynd know any of their trade secrets have gone with him. that is the basis of this. >> uber once arbitration because why? >> because they don't want to do in public. there are lots of embarrassing details that could come out. their arbitration claim looks like a stretch, and they lost. they were basically saying that waymo should be bound by its agreement to arbitrate things, even though they are only suing uber. they have a separate -- >> they tried to take their arbitration clause that alphabet had -- he happens to be -- >> exactly. happens, and trial we are going to get some discovery that has surely been going on, but the trial in october seems soon.
>> there is a key of the ruling here. uber so it suspected that maybe there would be issues. they did all this diligence and had a cyber forensics firm look into everything that he had. that report is sort of tightly capped, uber has refused to give it up, didn't even mention it in the beginning. finally a judge has said, you need to handed over to waymo. it will be interesting to see what happened, because we really haven't been able to turn up these files. that was the explosive claim, that there were all these files that uber had, and so far waymo hasn't been able to say, there they are. emily: eric newcomer, speaking with our editor at large, cory johnson. sticking with waymo, the ceo was on stage at the bloomberg's sooner than you think conference at cornell's campus on roosevelt island. he spoke with our senior executive editor, brad stone,
about when we will get self driving cars on the road. >> i think the answer literally is the name of this conference. it's sooner than you think. we have been working on this at google and now at waymo for over eight years. we have driven well over 3 million miles. we are the driving simulation miles and last year alone, 2.5 billion miles in simulation -- we are to the point now where the technology is feeling mature and ready. that is why we are spending a lot of time, particularly in phoenix but also in mountain view, called the early writer program, where we have families driving around in our cars, and we are beginning to understand how real people in real families alike to use the technology. that is the last part for us, understanding that, as we refine the technology. >> yesterday was an interesting day in terms of another piece,
the regulatory framework. the transportation secretary elaine chao put out a vision which someatement, consumer groups criticized for taking a hands-off approach, allowing manufacturers to test driverless cars on highways. on the same day, the ntsb came out and said they need to be more active, pointing to the unfortunate tragic crash of a man in a tesla. where do you see the regulatory environment? what are your concerns about taking the steps forward safely? >> great question. if you look at what the administration has done, and what we have seen in the last couple weeks, that is very encouraging for this technology, because we are in the early stages. we really haven't served our first users yet, so it makes sense that we are careful and flexible so we don't unnecessarily or inadvertently squelch innovation. what we have seen in the house,
which is something pretty special when you think about it, how many things has the house of representatives united behind recently? i can think of none, other than self driving cars, which passed recently that is very supportive and in line with what we saw from the secretary. i think that is great. it bears reminding everyone that there is a difference between the problem we are trying to solve, which is fully self driving and removing humans from the car and letting our technology do the whole driving task, and the different problem with driver assist technology. there is a difference between those things. >> that is what the ntsb was rolling on. getting too comfortable with these technologies? what do you see as the danger? >> it is the fundamental conundrum that we face in this space. we learned it at google prior to becoming waymo in 2012. where a pilot experiment,
we put some of our employees in our self driving cars for highway use. we told these very smart users that they had to be very attentive, that we would be watching them with cameras in the car, and if they didn't behave and keep their eyes on the road, we were going to take this free car away from them. we ended up having to stop that pilot experiment after just a couple months, because those google employees couldn't stop taking their eyes off the road. they very quickly came to trust the technology to much. that is the fundamental conundrum of the driverless technology. if at some point the car needs to ask the human to pay attention, in the human has fallen asleep, got distracted, is in a deep conversation, and that could be a big problem. emily: when a ceo john krafcik, speaking with brad stone. coming up, aqua fax is still reeling from the massive data hack that may have impacted anyone in the u.s. with a credit card. can their insurance policy come close to covering the damages,
♪ emily: welcome back to "best of bloomberg technology." on emily chang. the massive equifax data breach could be the largest in history. the hack may have hit 143 million customers. a class action lawsuit is to manning of to $70 billion in damages. paul otellini carries an insurance policy for this, reportedly only covers $100 million to $159. chief information security fortuneat 14 that -- hack.about the
>> to include probably cooperating with local law enforcement to get to the bottom of it. there are lawse against not reporting things like this faster. i believe you aren't required to report data breaches within 72 hours. -- you areake more required to report data breaches within 72 hours. wouldn't that make more sense? >> what you are talking about is the european regulation called privacysign to bake in protections for companies that handle personally identifiable information. in europe versus the united states, did the little different. in united states are model is more one of market forces, with perhaps the end of that continuum being legislation. more specifically here in the u.s. we go from market forces
the public outcries two executive orders to regulation to legislation. that is a continuum from minimum to harsh. in the european union they start closer to the regulation part of the continuum. they are indeed hefty fines if you have massive breaches of private information. up to 4% of global revenue. emily: bloomberg spoke with senator dick durbin who said we are duty-bound to step in on behalf of innocent innocence who are going to pay a price, adding this is an indictment of our current level of regulation when it comes to this industry and others. how do you respond to that? >> i think there is a role for government, the legislative or executive branch. at a minimum trying to incentivize companies to avoid default choices -- the false choices. convenience, privacy and security.
i won all three as a consumer. the best architectures can provide all three. emily: what do you imagine investigators are doing right now? explain what is happening behind the scenes. >> they are looking for forensics. hopefully they are looking to the future. they are looking to see what types of strategies and techniques and technologies they ought to be of lamenting. things like really good segmentation, both at the macro level and microlevel so future breaches' scopes are limited. solutions that implement defensive depth. rather than relying on point solutions, they might have automated solutions working together. quite honestly, i'm guessing they are looking closely at what is the best way to communicate with the private sector since somebody people were affected by the breach. isly: there are reports it
possibly accomplished by exploiting certain networks that other major companies are based on. what is the likelihood that many other companies could be at risk of the same kind of attack? : we don't have specific information about where the original breach was. one company step for that said, i think it might be us. this is software used in the top 500 companies. a zerot know it i if it is point, or a patch has been released. yes, there is a point of entry they came in through, but there are likely other points in the network when the network defenses did not live up to what was necessary. emily: would you say the scale of this breach is as bad as it
gets boring can be a lot worse? : the scale of this is about as bad as it gets. there is probably not a viewer of this tv show that has not been affected. this is unique both in its scale, number one, and number two in the type of information. this is not basically having to change my email password or email address. hard toresulting in secure information. my social security number, my date of birth. that -- these are very personal things. both in the scope of the compromise and the nature of it. emily: what do you imagine is going to happen to all of this information? honestly, this is most likely to be a criminal event. i like to categorize it in four categories. one, individual hackers looking to cause mischief through trophy
penetrations of companies and organizations. persistent criminals making a buck private information. three, countries looking to destabilize democratic institutions. countries looking to impose their will on other countries in times of crisis. it looks like number two, a criminal element. it was like they will try to commoditize this private and financial information and sell it on the dark web or other places. emily: chief information ortunety officer at f net. on the meal kit company strategy for fending off the competition is next. ibm ceo and chairman ginni rometty, our exclusive
matt: our ipo happened right at the end of q2. it was 3% of our network's volume. we have been investing very aggressively in our supply chain and noted to get people new products, more flexible offerings, new ability to monetize our customers with personalized offering and lower infrastructure costs. lennen was a big opportunity for us. we still expected to be our lowest cost operating center. as we moved into q3 with our ramp plans, we were overly optimistic on how quickly can ramp it. our business is incredibly hard to do what we do. if you think about operationally what is involved with getting a blue apron home cooking experience to people all over the country, working with
hundreds of farmers, growing ingredients, bringing them to film incentives for quality control, portioning, packaging, shipping, delivery nationally in a high-quality way, that's incredibly difficult. emily: but that the valley you are pitching to investors. matt: that is what we are doing. it's about a start of a new center. because it took us a little areer to launch linden, we operating two center side-by-side. that has additional costs. those are short-term costs because we are closing down our jersey city performance and her and opening up our linden performance center. we were a little overoptimistic and we realized that as we are getting through q3, but we are working on the number of initiatives, both short-term and medium term in nature to get it
up and running and take on about half of our network's volume. that is what we are doing. >> you are having all to do it all in the public eye. -- would open l this have been better work through if you were a private company? matthew: you have to be confident about what you are trying to do. we are confident in what we are trying to a compass with our business. we are building a company about new experiences, helping people cook at home, and going for a large industry that's an massive transition as more and more dollars move from off-line to online, and new brands capture share from old brands that are no longer relevant the customers in the world we live in where people are looking for healthier alternatives, more emotional brands and experiences. we feel good about our long-term prospects. what does that mean? we have to do the things we need to do to achieve long-term goals. going public is one of those
things that is helped make our company stronger through access to capital, access to having capital markets and public currency. we have to be confident to say we know what we are trying to do, we know who we are as a company. peoplexecute over time get to know us better in the public markets and they will appreciate what we are doing. >> i have one other thing i gave our audience, a stepping down as co. o. this is a reorganization of the structure. talk us through that briefly. matthew: there was an important reorganization we were working on an completed. at the time we announce my cofounder was stepping down. as part of that whole realization of the company. as we are moving into this next phase of company life, it is more important than ever for us to innovate fast on
emerging consumer needs, understanding customers who want to cook with blue apron but they have a diversity of needs. for the first five years of the businesses life we've been focused on scale. we saw very large and attractive markets and we felt the need to attract capital and talent and resources to invest in building a world-class brand and supply chain that allows us deliver great product and great prices. but in this next phase there comes scale. personalization and innovation of new products so we can address new segments of customers that we have historically not addressed because we have been focused on scale and monetization and increasingly stronger ways in terms of revenue per customer. what we did with the reorganization is divided up some of the teams and the company more clearly to allow us to go to new product opportunities. pablovated tim smith and
cazadi. that helped us accelerate our consumer products. it, you came of out with a team. you pitched your story to public market investors and you turn around just weeks later in a reorganization the dna of the company. whited that decision happened when it did? matthew: no company should sit still and do nothing. everyday doo is to it i can do to improve the business. our job is a company is to take one step forward. every day we will continue to do new things. in terms of the exact way we have personnel structured and the like, we will continue to make decisions when we come the crossroads and see opportunities to improve the company. we are not afraid to make
changes. that is our job. >> he talked about confidence and trust. some of the investors i talked to don't like to see this kind of changes so soon. thinking back to that stock chart with your stock down 46% since listing, how you instill trust in the investment community in your strategy? matthew: 20 to execute and show investors we are doing things we say we are going to do. we need to continue to build value are building a great brand, great products, for a supply chain and continuing to engage millions of customers all over the country. we need to continue to prove that. i think people as they get to know us better will begin to appreciate the amazing assets we built and the strategy we are going after. if investors say, we don't want change, i think that is misguided. it is a company's job to continue to change in new market
environments, on the scene opportunities. the weakest companies are the ones that are afraid to change. our willingness to continue to change and evolve and build a business in a gigantic market opportunity is something as i is the largest shareholder am really excited about. >> he talked about making more money off your existing users, focusing on that channel, may be as well is looking at scaling your roddick's. talk us through your biggest opportunities. there are so many people trying to feed you. why is blue apron different? grocery the food and market is one of the largest that exists. it is not a winner takes all market. there are many kinds of companies trying to feed you in different ways. what we stand for is this love of home cooking and the experience of home cooking and a lifestyle around that. our mission is a company is to
make incredible home cooking accessible to everyone. the reason we call the company blue apron is because chefs around the world where blue aprons when they are learning to cook. is a symbol of lifelong learning and cooking. this participatory component is core to how we engage our customers. it's important to understand. we think of our business as a branded consumer products company, not just a distributor of other people's products. you have to be rated innovating around customer needs and have a supply chain to do that. >> those new innovations, touch on some of those. matthew: the one we just announced recently -- a couple. we have been expanding -- different accommodations of meals to address different customer segments. we have more recipes that are designed intelligently to accommodate wider audiences. more flexibility for our audiences. any combination of recipes they
want. we announced 30 minute meals specifically designed to be really fast for people. we might send you reach out chicken,- pre-chopped pesto sauce, or recipe for a fast meal. some customers want faster in in somewhat more discovery. >> that sounds similar to the core product, for at least the same mealtime. are there additional add-ons? matthew: there are a lot. the biggest opportunity is in the core of what we do. emily: that was blue apron ceo matt sulzberger. hours was ae, conversation with ibm chairman and ceo jeannie remedy -- ginni rometty. if you like bloomberg news, check us out on the radio. you can listen on the bloomberg radio at, bloomberg.com, and in the u.s. on sirius xm. ♪
♪ emily: the role of artificial intelligence and business. ibm ceo ginni rometty is reinventing the way you use it everyday. we set up her of the conference and asked her about watson's impact on business. ginni: we are on a path to hit about one billion people will have a decision impacted by watson in some way. financial services.
it's interesting to watch. some of the biggest banks in europe have adopted -- adaptive farmer quickly to this. customer call centers. you take 350,000 emails and a day, you don't just sort them by keyword for urgency and how to solve them. these are sorted by important sentiment of a client, their customers. that is what they use watson for an possible answers. i would think financial crimes -- you think people spend all the time decisioning. if i'm doing a dossier on money laundering, they could take me five hours to pull the data together. now i get the data and i spent 15 minutes gathering. on weekends i was with a big oil and gas company. everybody has this problem. and aged workforce. many industries -- i can name
many in the room, have this. how you gather that knowledge? they use watson to do things like safety, making decisions on where to drill, all of that. i was chatting with someone about the weekend and the hurricanes. some of you may or may not know this, but also on the weather channel. nasa tv. phone's, that is ibm when you are checking the weather. billion --eekend, 3 a new weather forecast recalculated across 3 billion points of earth. on the weekend with both irma and with hurricane harvey, the most recent one, way held one million conversations, interactive conversations i had prepare for the hurricane. and then it was half a trillion
interactions with watson to help 140 airlines reroute. these are things you learn for business that are very different when people traditionally talk about a.i. >> you have touched on the criticism that it's still too interdependent on human interface. we talk about financial services, underwriting risk, the weather, they cannot than fast enough and it has been transformational enough to live up to some of the dependency both of ibm and how it's being marketed. heidi respond? -- how do you respond? ginni: ibm is an $80 billion company. when people say why hasn't this grown ibm by two, that's an unrealistic expectation. it is an era, and you teach these systems. they have to learn to teach.
watson is exactly where we thought it would be. watson is exactly what we thought it would be. pioneer,you're a people shoot. not deadly but they shoot. health care is an example. when we get her very first oncology teaching watson, the colon cancer. it to the doctors a year. this is another key point about professional a.i. doctors do not want a black-and-white answer. if you're a professional, you don't want it to say here is the answer. ok, givector wants is, me the possible answers, tell me why you believe it, can i see the research, the evidence, the confidence. what more would you like to know ? these are really what we are doing.
the first answer took almost a year. we are down to less than 30 days now. by the end of this year watson will have been trained on what causes 80% of the world's cancers. i find i can a criticism out of line for what it is we are working on together with doctors. emily: ibm ceo ginni rometty. that does it for this edition of "best of bloomberg technology." we will be live from the tech crunch disrupt conference sex week, speaking with steve jurgensen and sam altman. tune in each day. remember, all episodes are livestreaming on twitter. that is all for now. this is bloomberg. ♪
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carol: welcome to "bloomberg businessweek." oliver: we are coming to you from inside the magazine said quarters in new york. carol: the new front in the war against credit card fraud. oliver: more than 100 million accounts hacked. welcome sex after the equifax breach. -- what comes next after the equifax breach. all that ahead on "bloomberg businessweek." ♪ carol: