tv Bloomberg Technology Bloomberg October 3, 2017 5:00pm-6:00pm EDT
shook hands with the san juan mayor he insulted on twitter, and says relief costs could strain the federal budget. they are short on food, water, medicine, and other supplies nearly two weeks after hurricane maria. defense secretary james mattis told lawmakers that it is in the u.s.'s strategic interest to remain in the iran nuclear deal that president trump has said he wants to scrap. in mexico city, three more people have been confirmed dead, bringing the death toll of last toth's magnitude 7.1 quake 366. of the deaths were in the capital cities. the first lawsuits have been it'--against the that against the president's latest travel ban. they argue that restricting
travel or citizens of predominantly muslim countries violates the u.s. constitution. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i'm alisa parenti. this is bloomberg. ♪ emily: this is "bloomberg technology." i'm emily chang. withe live in los angeles a fantastic lineup of guests, including mark cuban, walter isaacson, and the discovery ceo. uber'sst, over -- first, board room holds a crucial meeting.
here with the latest details on what exactly went down and what it means for the world's biggest maxtup, we are joined by check in of "bloomberg businessweek pickup -- businessweek." what do we know so far about what happened? >> i'm sure they would much rather be at the conference with you. they are fighting over what governance looks like and whether they can pass this softbank deal start moving forward with that. the goal is to put the two together in a single vote, reform governance and expand the board, and start moving on this essentially $10 billion share purchase from softbank and others. it looks like something is likely to pass. i think the actual terms are being negotiated. the movement to one share, one vote and other reforms seem likely at this point. it is a matter of the exact terminology and provisions.
emily: the vanity fair summit is a reminder of how power can change hands so quickly. ago, the balance of power had shifted so dramatically, and yet we still have the same question. just how much power will travis kalanick hold onto? to clean uprying the mess that travis chalupnik made. elsewhere we are seeing withopments in this case googles driverless car division, of course a big reason that he steps down. new disclosures suggest things were pretty bad, that the case that uber has been trying to make doesn't look super compelling. in london, uber is trying to get its license back. all over the world company is trying to deal with the fallout of the past year. emily: let's hang on to this
waymo dispute. new details of come out of a confidential report that uber commissioned into what happened with the acquisition of auto. from what i understand, there are some really fascinating details about how much cover up was involved, among the founders from travis chalupnik best travis kalanick -- travis kalanick himself. >> if you are looking for the founder of auto destroying things he obtained from google while uber was looking into it, soliciting google employees to work for his project, this new report has a lot of evidence of that. unfortunately for waymo, they are going after uber the company, not the person in a civil suit. the question is whether uber
used the information that he may have had, and whether it ever came over to uber and used in any of its trade secrets. that is really the question. if you want evidence that levandowski did some questionable stuff, this report has it. that is also in the report travis may have said, do what you need to do with that material. there is this question of whether uber conveyed to the right message about the handling of potentially stolen material from google. emily: let's talk about the situation in london. deal as of yet, though they have struck a very contrite tone. the head of uber's u.k. division has gone. might this be a tougher fight the uber anticipated? >> a couple of years ago, the conventional wisdom was that uber had gone on this campaign
managed in part by the former campaign manager for the obama campaign, and it basically legalized themselves in a whole bunch of cities. i think a lot of us thought that phase of the company was over. what we are seeing is that all of this political blowback against uber is having repercussions in the individual markets in which it plays. the regulators in london are reacting basically to news that was happening in the u.s. around this program that uber had used allegedly to evade police and regulators. it is basically a political issue where uber has to say, no come a we are nice. -- no,not like that no, we are nice. we are not like that. that ubero signal has changed and is not the steamrolling company that maybe you think of them as. emily: eric, you have maintained
you think uber and london will be able to work it out. to you still believe that after today? >> i think so. both sides seemed to indicate there was a productive meeting. i just think the political backlash against london if they , both for the drivers and the riders, would be in rs. -- would be enormous. we saw this with bill de blasio in new york. up toone thing to stand them, but another thing to kick them out. often did it at one point -- austin did it at one point before the service got very serious. flooding is one of the cooper's -- one of -- of london is one of uber's top markets. >> we are talking about a huge number of cars. i think it is 40,000.
that would be hugely disruptive for uber's drivers. just to disagree with eric a little bit, i think the politics have shifted since that the blog of io battle -- since that de blasio battle. but it is hard to imagine this ending with a blanket ban. we will go back to normal. emily: more negotiations to come. eric newcomer, max, thank you so much for joining us. coming up, we bring you coverage from the vanity fair new establishment summit. i sat down with investor mark cuban. we covered everything, politics and what is on his agenda. "bloomberg technology" is live streaming on twitter. check us out. this is bloomberg. ♪
another banker, goldman sachs blankfein, who says he is "still thinking." bloomberg reported monday that the bank was exploring a bitcoin trading venture. here at the vanity fair new establishment summit in l.a., i sat down was outspoken owner of the dallas mavericks mark cuban. i asked him about the recent uproar over the protests in the nfl. take a listen. >> i am fine with it. the nba and nfl are considerably different. than any football team, you might recognize three players. the rest have no platform, no social media following for some part. the only time to make a statement important to them is when the cameras rolling. basketball, they have a bigger platform. it is completely different. what i said to our team is if you have a message you want to our fans, we will put
you on videotape and say what is on your mind. these protests the nfl tried, you lose control of the narrative. is not the right way to do it. emily: so you don't think they should have protested in that way? >> i'm not saying that at all. i am all for civil disobedience. it was their only opportunity to do that. the nba is completely different. we have much stronger platforms. we have a far better way to connecticut a message. emily: is this a battle president trump should be picking? guest:. no -- no. [laughter] athletes endorse candidates, give money, whatever, but come on. to me there's three donald trumps. the one trying to be the president, the one that the person, and the one that is a twitter troll. do his jobtrying to
as president, hopefully you help the people around him. fourworked with probably agencies and done things that the president has no idea, because that is what americans do. you let him pretend to be president and do his thing, and hopefully the best happens. emily: you made your political views very clear. what are your biggest concerns about this administration? know. i don't they just don't know what's going on. it is not in him to make an effort to understand or learn. possibly because he is not capable. possibly because he is not willing. i don't think he has it in him. emily: does he make it through four years? guest: i say there's a 25%, maybe 30% chance he doesn't. i would be willing to bet against it not because he is going to do some been crazily wrong, but because he is oblivious to the institution and government and the laws and
rules. he will do something and won't recognize that it is an impeachable offense. emily: you recently bought a stake in twitter. why? guest: i've a big fan of artificial intelligence. i think they are making some good moves. you are seeing the evolution of the interface, and i think they are going any right direction. emily: should they get trump off the platform? guest: no, can't do that. we are in a situation right now where politics are so tribal that in that realm of people who really focus on politics, when you try to make a dramatic move, you increase the amount of tribalism. if you take him off, all the trump fans are going to go bananas. that doesn't do any good for anybody. that he just goes to facebook or a website and does the same thing. there's a thousand ways to post digitally. twitter happens to be the only one he knows how to use, but i'm
sure even he can learn to use facebook. emily: they are the crosshairs of this russian investigation, the spread of fake news and misinformation. what is their responsibility? guest: it is interesting because for product gas television, if you -- for broadcast television, if you broadcast an advertisement that says they will cure every illness come you can't do that. the same should apply to facebook and twitter. emily: what about content? guest: it is not content if you are trying to promote a specific agenda. is marketing. there is a big -- it is marketing. there is a big difference. state it is opinion, or state it is reporting.
when they are using targeting, that is advertising. in this case they are posting it through the ad platform. if you are posting it through the ad platform, it can't be fake news. it is a misleading advertising. is the responsibility of facebook and twitter to recognize that they can't allow fake ads to be hosted on the platform. emily: you told bloomberg you're considering getting into bitcoin. have you done so yet? what do you think about people like jamie dimon saying it is fraud? guest: it is interesting. i think there's a lot of assets that their values declined based on supply and demand. there is no intrinsic value. you just have the ability to buy and sell those stocks. like baseball cards. i think bitcoin is the same thing. based on aht some swedish exchange because they gave me liquidity. . pure pure that going --
bitcoin. just like the net and streaming created multiple great companies, i think block chain will as well. i'm involved in something called mercury protocol that i think is going to change the messaging using block chain. emily: how big is your stake in bitcoin? guest: relatively small. emily: we will have to leave it up to the imagination as far as what small means to mark cuban. always great to have him here on the show. coming up, we are going to be talking about google and the tech giants now under a microscope as part of a wide-ranging investigation into how russia used social media and the internet leading up to the 2016 u.s. presidential election. new details on the investigation the at gmail and youtube, next. check us out on the radio, on
emily: as part of a wide-ranging investigation into how russia and linked operatives harnessed social media during the 2016 u.s. election, lawmakers are focusing on google services including youtube and gmail. the senate has called google to testify on november 1 with executives from facebook and twitter. the panel is focusing on any materials in russian ad buying, fake news, and the potential uses of youtube and gmail. joining me is mark. what do we know about what
has been discovered so far and what action google has taken? guest: we know very little about those two things. google clearly has a lot more channels. youtube is a really big place for fake news, propaganda. is not talked about as often as facebook. at this point we don't know if google has found any evidence. facebook disclosed 3000 election related ads, google said we probed our system and didn't find any similar ad buying on our properties. they: talk to us about russia today situation. they removed that from the premium youtube ad package. reporter: right. they didn't take down russia today's channels, which are the second-biggest on google preferred, their package of premium and high-end youtube
videos where advertisers pay more. this is a tough issue for google. it is a state-sponsored station, but so is al jazeera and bbc. people say that russia today actually produces pretty quality stuff, but the international intelligence agencies have called them effectively a kremlin backed organization. i think congress is looking in particular at russia today, and there are probably other channels and outlets they are eyeing as well. emily: what about gmail? how my gmail in particular have been used here? reporter: we don't have any information on that right now. there certainly are some high-profile attacks, the john podesta hacking. he was using a gmail account and fell for a phishing scam. last week google was preparing to put out some new security tools that they say will be much more impenetrable to hacking and fishing. they are marketing that directly to journalists and political
operatives, saying things like the podesta hack wouldn't happen if you had this toolkit. it has certainly been a popular tactic for hackers in the past , something phishing that has been a cat and mouse game for years. emily: google is now going to be testifying before congress, as our facebook and twitter. do we know yet if google is handing over any information? what kind of information has been requested, the same way facebook handed over all the political ads? reporter: we don't know at this point. we know that facebook has shared information with google. we know that the developers of fake news and propaganda, facebook and google kind of playoff each other. the stories that do really well on facebook tend to do really well on google search. the tweets that google has an certaint to index tweets, so there are a lot of viral tweets that may appear top of search results. congress may be looking at the
interchange there. we don't know if they will plumb the depths of google's fairly expensive advertising network. we don't have a lot of information right now. emily: we know that in the aftermath of the las vegas shooting, that fake news and missa permission ricocheted across the internet. apologized forly it, blamed it on the algorithm. are you aware of any internal initiatives underway to make sure things like that don't happen in the future? reporter: they have put in some protocols. that was a really fascinating issue because the search term was around a particular name whose name was not in any news prior to that. what you saw was a very proactive campaign based on four chan to spread lies about the guy with this name. google's algorithm has this sensitivity and weigh shooting
something up to the top. they shot of a website that clearly was not an established news place. ofhink they put of a lot attention on this. it is hard because what google has historically said, we want to get that relevant and timely information in front of people. bergen,re right mark who covers google for us, thanks so much for that update. coming up, much more from the vanity fair summit live in l.a.. we will sit down with discovery's ceo next. this is bloomberg. ♪
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on the island needs after visiting today. the meetings between local officials are quote productive. various signs in the church red primerica and come up let's make puerto rico great again and got .less you mr. president at least 45 people remain in article condition -- critical condition in las vegas hospitals after a shooting. people took the streets in barcelona after protesting the use of force by police. blocked, schools closed and businesses were halted across catalonia as workers and students join the strike.
>> paul allen has a look at the markets. zealand has in trading for about 30 minutes and currently off a few minutes. this is after u.s. equities added to records. higher byso pointing about a quarter of 1%. did below.briefly we have futures up a 10th of 1%. elsewhere, the reserve bank of india hold its meeting today. it is expected to be held lower for longer. that is the only central-bank action we have today.
the biggest names about massive changes underway. one company launched more than 30 years ago the working to stay current. david, thank you for joining us. >> pboc scripts, group nine, wise bigger, better? people assumeay content is changing so the reason we did scripts as they have great quality brands and they have all of their content. we see it as great brands that have saturated the u.s. not proliferated around the world. we are very successful.
peopleportantly, as consume content, we can take -- we are the largest media company and the world. we have more brands than anyone else. tlc, hd tv. those we can ride anywhere in the world everything on it. issee an ecosystem that growth in some markets and decline and others. now, we have a load of ip we can take directly to consumers. if you love discovery or science, we can deliver it to -- right torphone
your phone. we are the largest provider of short form news on facebook. it is growing rapidly. it is not making money yet, but we are one of the largest providers on facebook. it is usually one or two minute stories. we are also the largest -- one of the largest providers on snap so that is almost a full millennial audience. we have our traditional business and will now be able to take that directly to consumers or individually. theave this studio where
number one or number two player in the world. it was helpful even as facebook was looking to build content. we were able to get a lot of those because we are already a top provider. the challenge is, it is not making money yet. we have great name recognition and brand awareness. we are working with facebook and snap on how we monetize that. >> what kind of efficiency are looking for? >> we look at it as two things. we have stayed at about 350 million. we think it could be more than that. we put it together in the u.s. alone, more than 20% of the worship and five of the top six
or seven women's networks. where they are going to invest more in content and go directly to the consumer. half. it as breaking in >> that is owning more ip, broadening that content in different ways in all languages around the world and getting more viewership, more scale, more people spending more time on this. >> we think we can do a good job of attacking that. >> tc doing more deals? >> sure. with said we think scripts is a good deal for us, but one of the big attractions is we pick up
more ip. 18 months after we close, we will be more than three and a half times with a bigger balance sheet. >> we have seen amazon and facebook, nontraditional players pay up for sports rights. what is next? >> they are in the market place. amazon, particularly, we are doing a lot of work. we have been at it for about almost a year and a half, two years in europe where we have the traditional espn type , but our model in europe is little bit different in europe than the sports models and most of the countries around the world. , the only fixrts
through 2024, tennis, cycling, ip forl, we own all that all those platforms. so if yous platforms ando europe in the year they are selling rights to see the french open for the olympics, they are buying it -- from us. we think over the next couple years, we will be able to sell to the super fans olympic sports and we will be able to go directly to the consumer in a much more scalable factor. >> how many packages will there be by the end of the your question mark >> in europe right now, in most markets, it is just us. >> there a -- there are a couple of bigger markets, but in most
markets, it is just us and we have a great jump on it. lovesk it someone squashed, we have all the squash. ,f someone loves speedskating tennis. i think that will be a very attractive model. across europe, 750 million people, all the people that love a particular sports will be a look to buy from us. >> always great to have you here on bloomberg. the former ceo of intel has died at the age of 66. he joined intel in 19 before and ceo -- he joined and served84 -- 1974 as the chief executive since
>> and impact. thee are businesses where inherent nature of the business is that which generates the impact. >> how you measure impact and make sure you're not decreasing your financial return? half spent a year and a when we started this fund. understand if we can measure impact and after a lot of work we had a credible way to underwriting and pack, tracking it through our investment in ultimately reporting on it. each case, each company we go into, we look for ways to measure the value of the environmental impact company is
inviting. >> at the end of the day, we are first and foremost making sure these are good investments. >> tommy why this attractive some like bono -- tommy why this is attractive to someone like bono -- tell me why this is attractive to someone like bono. was -- goal he has been a long-term leader in this field. aboutirst began investing a decade ago. if you're really serious about
the limit, you have to invest. neededre 15 million jobs just based off the demographics and there is a general awareness we will not get there in terms of solving these social problems unless we have sustainable capital. -- keeping growth is the investment firm. our belief was in order to compass the impact properties, we needed to had and a terminal group of talent necessary to do the work and we wanted to --ract people that wanted to richard branson and the others that are part of it.
facebook -- facebook, amazon, google are so big and creative and powerful that they could stymie competition and it is always difficult to deal with that. jeff bezos has a wonderful line that steve jobs said as well is that you should not be access the competitors, you should be assessed with your customers and the rest will follow. i think that is what snap will do. keep innovating -- do you see mark zuckerberg and evan spiegel --
>> i think they have a real feel for what users want. i think -- i find evan spiegel philosophical and a great deal of leadership. toledo public company -- to lead -- steve jobsny crit is a great product but having -- steve jobs created a great product but had trouble in 1985 leading a company. emily: the spread of fake news, going before congress, how serious is this question mark >> it is very serious. was i first went online, it many years ago.
up,first words that came you own your own words. you have to take responsibility for what you said. -- we saw that again happening in las vegas. i think the time has come where you can no longer say it is not our responsibility. we are just a platform. >> what do they do? >> it is easy. we have done it for 500 years, which is people take responsibility for what they accomplished. involves having humans in the mix. all the rhythms cannot do it perfectly. say it iso be able to
interesting fake news and drill news? -- real news? gmail are at the center of this. what about google? >> i think you want to balance of the -- balance the ability to have search where someone can do a search and it is neutral. you also have to stop people who newsfeedsg up in the you know that are incorrect in done intentionally incorrectly.
i think you have to make that distinction here. you have to say all right, this thing about the las vegas shooter, was just put up at your fakery. if indeed facebook, twitter, or will play the -- what are the consequences? environment, we are we. we are in a better world now. i can go wherever what, including russian sources. platform toe our intentionally mislead people in as mark zuckerberg has said, we get it now.
i suspect people at google also have good values and apartment to figure out going forward we have to do it better. >> i'm not someone who is deeply in favor of on the spot regulations. i think that is a really bad idea. so self policing you think? >> i think we have government , -- you have to have certain values so we don't have people saying we need government to regulate the flow of information.
>> it certainly requires a lot of trust in these companies. >> it does. i think when they lose that, they should be trying to regain the trust and they are. walter isaacson, ceo of the aspen institute. editiondoesn't for this of bloomberg technology. much more. that is all for now. this is bloomberg. ♪
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♪ studios infrom our new york city, this is charlie rose. on jeff gordon, charlie -- charlie rose is on way -- a way on assignment. -- at least 50 people were killed and more than 500 injured as of this evening. it is the deadliest shooting in modern u.s. history. the government has been identified as stephen paddock of mesquite, nevada. to kill himself up for swat team