tv Best of Bloomberg Technology Bloomberg December 10, 2016 11:00am-12:01pm EST
♪ emily: i am emily chang and this is the "best of bloomberg technology." we re-bring you all of the top interviews from this week in tech. e watchdogs center message to big tech. move faster to crack down on hates each or we will do it for you. plus, the best of the best in science that celebrity treatment in silicon valley at the fifth annual breakthrough awards. we will hear from the russian billionaire who helped start it, yuri milner.
so much for burning the midnight oil, one titan in tech media said the key to success is sleep. arianna huffington joins us to discuss her latest venture and how to handle a rise in fake news. e.u. regulators warned to act faster against online hate speech or force laws that would force their hand -- face laws that would force their hand. facebook, twitter, microsoft, and youtube banded together by signing a voluntary code of conduct. they support "in the effort to respond to the challenge of ensuring online platforms do not offer opportunities for illegal online hate speech to spread virally." removedt on to say they remove and disable access to such content if necessary." six months later, e.u. regulators say the companies are not living up to their promise and only 40% of cases are addressed in less than 24 hours.
in response, facebook, microsoft, twitter, and youtube separately said they are creating a shared database of the most severe videos they have removed from their site. joining us now, the managing partners at heroic ventures and all the way from berlin, bloomberg's caroline hyde. caroline: they want to see the threat of legislation to come in and force the hand of these large u.s. companies. 40% of the alerts have been tackled in 24 hours. much more are being tackled, 80% in 48 hours. they are saying, it is not that you cannot do it, you are not putting enough resources behind this. you are a billion and trillion dollar company, you should be able to put more resources behind this. no wonder this is being viewed by the e.u. at the moment.
terror attacks have occurred, notably in france. just in november, angela merkel has set herself she was thinking of potentially lending support to regulation to reduce hate speech because she feels that is behind the wave of populism that drove the italian referendum. i think that is what is so notable, not only is the speed slow but it is particularly slow within some of the countries that angela merkel and the e.u. are worried about. italy, just 4% of the alerts about hate speech are tackled within 24 hours. 4% when it is meant to be 100%. and austria, 11%. over the weekend as well, we saw -- this is a country that very closely had a notably far right presidential candidate winning. these are countries where people are very worried about and want
to see a greater tackle against hate speech to drive back populism. emily: this is an issue you have taken on for a good part of your career. you lead reputation.com for a long time to tackle these very kinds of issues. what do you make of how the e.u. is handling it versus the united states? michael: that is a good question. this topic is hard for american viewers and businessmen to understand because we are understanding of the first amendment. that is not the case in europe. it is important for you to understand as viewers that in europe, that is not the case. in europe, speech is not protected, including political speech and inciting speech, and hate speech. there is a history of radical violence in europe that has been met with legislation and constitutional changes over the decade that creates a situation different from the american situation. this question is normal in europe. the second thing is europe is , very serious about it. there are two basic axes of problems. they are not responding fast
enough according to the e.u. regulators and secondly, the , e.u. wants them to take a more expansive view of what constitutes inciting or hate speech. they do not think these companies are taking it seriously and now, in america, these topics are coming up more and more. we see the impact of the spread of fake news. we know the russians were spreading fake news to effect the election. maybe they did. we know that general flynn, one of donald trump's nominees spread and re-spread some very fake and victory a like news that was obviously fake about the clinton campaign about pedophilia. this is a live and present question. there is an important item. facebook, an amazing company is in an unusual position. on the one hand, they have to say with a straight face, hate speech and the spread of fake news does not impact viewers because our viewers an audience do not take that seriously when they read it. emily: what do you think
facebook should do? should they behave more like a media company than a technology company? should they take greater responsibility for monitoring and moderating fake or inaccurate news? michael: i think the question is yes, but there is another thing in technology that might point the way. the law in the united states actually gives deep protection to copyright. so if facebook or youtube or microsoft or twitter receives a notice that the photograph that is being shared is under copyright of an owner and the owner does not want it copyrighted or shared, all of a sudden those companies have to take swift action to remove or otherwise segregate those copyrighted materials. as a result, what is born is a series of technology solutions that allow them to limit the impact and distribution of those copyrighted materials once they are on notice. the same thing has not happened with speech or hurtful speech or emotionally violent speech, a video for example of a little kid being beat up online. there is no law that requires one of these pages to remove it
if they are put on notice so they never had to develop technology. so i think there is a technology solution here, whether it is a media company or platform company, i think media can solve one of these problems. if they decide they want to, they will. emily: coming up, silicon valley leaders post the fifth annual breakthrough prize awards, honoring the top minds in science. our interview with billionaire facebook investor, yuri milner, next. anne wojcicki, her concerns about the funding of science and innovation under trump. this is bloomberg. ♪
this promise removes worry that they may use the deal to squeeze out rivals. ,alesforce which was outbid urged the e.u. to look closely at the deal. last sunday, top executives from hollywood and silicon valley gathered for the fifth annual breakthrough prize event, and award celebrating top achievements in the field of physics, life sciences, mathematics. $24 million was given to 12 researchers, scientists, this year, a special prize was awarded to a team of over 1000 people researching gravitational waves, ripples in the fabric of space time when two black holes merge. the prize was created by silicon valley power players like mark ma, anneg, jack wojcicki, and yuri milner. i sat down with milner and asked about which prize he was most excited about. yuri: the special prize went to
the collaboration of a thousand people for the discovery of gravitational waves. the waves come to us from two black holes that collided a billion years ago and it is incredible that we developed technology that can detect this. this verifies the prediction made by albert einstein 100 years ago. emily: you are fascinated with space and what is happening in the universe. you also launched a project to find extra church -- extraterrestrial life. what progress have you made? yuri: i think we have a decent is therend the reason are 20 billion planets like ours in our galaxy, which is called the milky way. this 20 billion should be multiplied by trillions, the number of galaxies in the universe.
thishances that all opportunity only created one civilization are minimal. i think eventually we will find out somebody is out there and maybe they are one billion years ahead of us and then it will really be exciting. emily: if you travel around the world, 40% of your investments are in china. talk to me a little bit about -- are you concerned that funding for this kind of innovation and technological breakthrough may suffer under the new u.s. administration? yuri: it is very early days, but i think what is happening is an amazing global macro trend, which is really empowering all of us with technology and software. in the last years there were $2 trillion worth of value created, around the world, two thirds in the u.s. and 25% in china and then the rest in the rest of the world.
my prediction is that in the next 10 or 20 years, this trend will continue and many more trillions of dollars will be created in this exciting space. i am not good at short-term predictions. it is going to happen next year. it is not going to happen next year, but i would bet that in the next 10 or 20 years we will see a lot of value coming out of places like silicon valley, tel aviv, london, bangalore. emily: you have any concerns about the election of donald trump, given for example whether it is ripping up the playbook or flouting years of diplomatic process taking a call from taiwan or potentially befriending vladimir putin, given that you are from russia. yuri: i am not the best scholar to opine on this. and i have really been focusing on technology around the world and that is really what drives
my travel. wherever there is a technology opportunity, i am trying to send -- spend a lot of time there. emily: long-time investor in facebook. do you think facebook needs to take on greater responsibility when it comes to fake or inaccurate news? should they consider themselves a media company or a technology company? yuri: i think facebook is very serious about this. you recognize there is a high concentration of value in internet companies. probably 80% of value is concentrated in less than 10 companies. each one of them has a responsibility. so i think it does not only apply to facebook, it applies to all of them around the world to think about things like that. emily: looking into 2017, talk to me about how you are dividing your time in terms of travel and technologies your most
excited about. yuri: i am 80% focused on investing and 20% focused on , nonprofit initiatives like we talked about. and as we talked about it, 20% investments are concentrated in the u.s., 40% in china, 20% in the rest of the world. that is how i try to allocate my time. emily: when it comes to new technology, what do you like that is out there? where do you think the growth is going to be? what are you most fascinated by? yuri: there are some unstoppable trends. ai is all various faces of , thingsonomous driving like that. now the big trend is robotics
and i think when those trends are converging, you will see a lot of changing out in society. emily: that was yuri milner. we also caught up with anne wojcicki who teamed up to create , the breakthrough prize as well. we covered everything from her company's growth to the , prioritization of science and technology under president-elect tromp. we started talking about her aim behind the breakthrough prize itself. anne: for me, the goal was to make scientists celebrities like other people are celebrities. zuckerberg and survey, they can rgei, they can create a company and it has lots of assets. my goal was, how do you make scientists part of pop culture? emily: you have any concerns a trump administration will not prioritize this kind of research
and innovation? anne: for sure. i think it is a concern that science will not be as prioritized. i am hoping that things like a breakthrough prize and more efforts to educate the youth, it will not matter what the government is saying too much because you will inspire individuals to actually start learning about it and getting involved. in some ways, that is where government matters and does not matter. there is no government policy about basketball, but we are all clearly into basketball. my goal is to get people to look around the world and feel so inspired that they are always asking questions and learning. emily: what are your broader concerns and reflections on the election, given the industry you work in, given that we were this close to seeing a woman in the white house? anne: to be honest, wait and see. i would love to be able to judge once things are happening and i am eagerly waiting to see who is
going to be fc commissioner. obviously want to keep supporting the fact that science is incredibly important and scientific fact based world we are living in i have some concern. emily: what about the potential of unwinding the affordable care act, or not hiking drug prices? anne: i think there are all kinds of ways to spin in terms of worries. the benefit of affordable care act is there are millions of americans who are saying, it is great to have health care. i think without a doubt, it would be hard. people want to have those benefits and feel empowered to take charge of their health. i am completely open-minded to alternative ways of looking at it. i am a kaiser permanente baby, i have always been a fan. i would love to see them take over everything, but i am open-minded and eager to see what will happen. i know once people have gotten their health care, it will be hard to take it away from them. emily: give us an update on
23andme? you are now selling genetic data as well as charging consumers to give you that data. anne: we never sold genetic data. we have always done research projects. without a doubt, the most exciting thing for me, i love consumers step forward and say they want their genetic information. almost more than that, i absolutely love how well we can make discoveries from this research database. i get people who have had sar coma or migraines or some kind of chronic illness, and they are saying, just help us understand why this is happening to us. and the fact that we are able to effectively leverage our customers and make meaningful discoveries gives me a huge optimism about what we are going to be able to do in the future and how quickly we can make meaningful discoveries. emily: how about the drug discovery part of the research you have been doing? any diseases you are honing in on? anne: being in a science event, you should not be that excited,
but it is one of the things that almost keeps me up at night because i am so excited. i am so proud of my science team at how well the system works, and we are making discoveries. we have richard scheller running our therapeutic unit and we have a number of compounds in development. we have new labs in south san francisco. i am enthused and incredibly inspired that the database of information will potentially yield novel therapeutics and i am hoping to prove out the fact that we can do it faster and more efficient than other pharmaceutical companies because we are starting with the human genetic database. emily: anne wojcicki, 23 and me ceo from the breakthrough prize awards in california. coming up, we get a silicon whaty's investors take on trump's secretary means for the future of cyber security. down with ussits
emily: president-elect trump's transition team is said to be considering a silicon valley investor who is close to billionaire peter thiel to lead the food and drug administration. this according to people familiar with the matter. jim o'neill is a managing director at peter thiel's company. he would be an unconventional pick. o'neill does not have a medical background and every fda head in the last 50 years has either been a trained physician or a scientific researcher. trump has chosen three generals for his top team of advisers including general john kelly for secretary of homeland security, general michael flynn for national security advisor, and general james mattis for defense secretary to succeed ash carter. james mattis has extensive and recent military experience. what does trump's choice me for global cyber security threats? with me to discuss, david cowan.
david: general mattis has a terrific reputation as an intellectual. he has advocated force only when necessary and when it would be successful. i think he stands out as a competent pick among trumps cabinet. the question is not about him in particular, but why it is that donald trump would say he is looking to the defense department or the joint chiefs of staff to protect this infrastructure against cyber attacks. looking to the defense department to general mattis or the joint chiefs of staff to protect our industrial control systems, our dams, water treatment facilities, nuclear reactors, it is just not the right solution. calling in the marines to protect malware is like trying to stop a termite infestation with a shotgun. emily: what does it mean for an organization like the nsa?
you expect the nsa to focus more on threats from russia or within the united states? david: the mandate has always been to monitor threats from external enemies. what is scary is that president-elect trump does not see russia as an enemy as much as he sees enemies in the american homeland, jihadist refugees or illegal aliens or obstructive protesters or conspiring journalists. emily: for anybody on snl. david: or alec baldwin. the concern is, is he going to redirect those cyber capabilities against the american population? given to his advisers are, rudy giuliani, who proposes stop in on the streetssk of america, why not stop and frisk cyberspace. peter thiel, whose main position is in the company he cofounded that makes the software that spy
agencies use to monitor large populations. what is going to stop the nsa, part of the defense department, from turning its sights on americans? the concern i have is whether general mattis will hopefully stop that kind of use of the nsa, but there are other spy agencies in the government that do not report up to him. emily: general mattis has an interesting silicon valley connection in that he is on the board of the very controversial blood testing company theranos and as far as we know he is still on the board today. he would have to step down if he becomes secretary of defense and he also, as we understand it, tried to get the military to use theranos technology unsuccessfully. what do you make of this? david: i am sure general mattis had no idea the test did not work. hopefully, what he learned from that is it is a good thing we have the fda to set rules and to
apply scrutiny as to what it is that companies are going to sell to the public. when we talk about cyber security, this is an area where we actually need those rules. we need those regulatory andcies like the fcc federal energy regulatory commission. these agencies are all trying to identify, promote, and enforce cyber standards among companies and along government agencies in order to make cyberspace safer for everybody. i am hoping general mattis will pay more attention to the value that these agencies bring then theranos has to the fda. emily: that was bessemer venture partner david cowan. coming up, we get arianna huffington's take on how the media should cover president-elect donald trump. if you like bloomberg news, check us out on the radio.
emily: welcome back to "the best of bloomberg technology." i am emily chang. one of the most influential women in media and technologies preaching that the ultimate key to success is sleep. arianna huffington has launched a new venture called thrive global. it aims to revolutionize the way we live and work by ending the burn out epidemic. we caught up for an extended conversation. take a listen. arianna: my vision, as you said, is to disrupt the way we have worked and lived because it isn't working. we have seen companies that are wasting hundreds of billions of
dollars in health care costs, lost productivity, high turnover, and there is a solution. to prioritize the well-being of employees and to recognize that well-being and productivity are completely aligned. when we are exhausted and running on empty, we are undermining our productivity and costing businesses and individuals a lot, both financially and in every other way. corporations to help them change the culture. we are working with accenture uber, s.a.p. and becoming the help of these conversations. we have great content from our reporters and from business leaders like jeff bezos, howard schultz, danny meyer writing about how they thrive.
and finally there is the commerce side. both a pop-up store and an e-commerce site. emily: you are not shy about your dislike for donald trump. the huffington times put him in the entertainment section. now that this is a reality you say that the media should cover what he does and not what he says. the problem is, he keeps treating inflammatory and controversial things. how should the media cover president-elect trump given that they are being so often criticized by him? i said the media should be covering what he says and does now, instead of on the campaign. the campaign is over. no matter how much anyone opposed donald trump and no one , opposed them as much as the
and debtn post, it is in the best interest for him to succeed. and that is why he is reaching out to silicon valley and tech leaders. going to the meetings, it is important because he needs to hear from voices with which he disagrees. we saw that when he heard from someone he respected that waterboarding does not actually work he changed his mind on , waterboarding apparently. and for a minute, he met with president obama, and he was sounding a very different tune when it came to obamacare. so it seems that he is easily influenced by whoever he is listening to. and therefore, it is important he is surrounded by people with these views and people who will be influential in terms of how he runs the economy and in terms
of foreign policy. emily: the pope came out today saying the spread of misinformation is probably the worst damage the media can do. i am so curious, do you think that facebook and twitter can do more to police fake or inaccurate news? arianna: i think everybody should. we have a tremendous responsibility, all of us in the media. to challenge the spread of misinformation, whether it comes from president elect donald trump tweeting that millions of people voted illegally, or whether it comes from fake news that promoted to the top by the ,lgorithms that are doing that i think there is nothing more important than to recognize that we all have the right to our own opinions. but we don't have the right to our own set of facts. there is such a thing as truth.
there is such a thing as facts. and we need to be absolute in trying to defend the truth and the facts. emily: when it comes to a company like facebook, mark zuckerberg has said, we are a technology company, not a media company. do you think facebook in particular should be considered a media company and take action? arianna: but mark zuckerberg did say they are going to be doing more than they are doing. .e has already said that it is not a question of whether you are a media company or technology company, and everyone needs to do more because that is really at the foundation of a healthy nation. emily: you're being succeeded by the new york times editor. i am curious what you would like to see her pursue. do you think the huffington post needs to cover more news between coasts?
more news that perhaps we wouldn't be so surprised by the election of donald trump if we understood how people in the mid -- middle of the country where feeling? arianna: first of all, i am absolutely delighted with my .uccessor she is brilliant, fearless, and kind. it is a fantastic combination. the newsroom is so excited to have her. i'm so excited to see what she is going to do. one of the things that is important about her is that she has incredible global knowledge. she has been a journalist around the world. the huffington post is a global company. 50% of the traffic comes from outside the united states. ,t is already in 17 countries most recently south africa. so it is fantastic to have an editor in chief who has tremendous knowledge about how to operate a global media company, especially at the time when there is so much happening around the world. whether it is in italy today or
or in the u.k. with the announcement of the timing brexit, this is such a to mulch it was time. having someone at the helm of the media of the huffington post who really knows how to navigate these water, it is really a blessing. emily: hearings about the at&t-time warner merger happening today in washington. competitors. i am curious what you think about phone companies owning media companies. arianna: as long as they don't interfere with editorial, that is what matters. phone companies can own media companies as long as they leave them alone. spoke,the last time we the verizon-yahoo! deal was fresh. andit has been postponed
yahoo! is the target of a major data breach. he told me at the time that you thought verizon and yahoo! made a very good fit. do you still think that? arianna: they are a tremendous synergy. as the with lydia editor-in-chief of the huffington post, she could have a great role to play when it comes to the news part of yahoo!. this is still in the future. conferencem at the in new york -- i saw him at the conference in new york and he is optimistic but this is for 2017. emily: any thoughts on what marissa mayer should do? arianna: first of all, she get more sleep and relax and recharge, and enjoy her beautiful family. she has a great future ahead. emily: that was arianna huffington. apple is said to be pressing hollywood studios for faster access to movies.
this is according to people familiar with the matter. 21st century fox, warner bros. confirmedsal have all they are looking for high priced home movie rentals shortly after they open in theaters. some studios are dealing with apple itunes as an option. could a new era for nintendo be upon us? mario is jumping to your iphone. will this be a bold enough move for nintendo to stay competitive? this is bloomberg. ♪
getting intellectual property. fitbit didn't disclose terms. but this debt exceeds this amount. turning now to the video game world, 2016 has been a year of transformation for nintendo. the company made its jump into gaming with the launch of its cap. and then, the cultural phenomenon that was pokemon go. then, nintendo stole the spotlight at an apple product event with the surprise announcement from tim cook. nintendo,welcome from the father of mario. itsy: nintendo announced first solo game. it will be available exclusively on apple's ios with some industry members saying it will be an even bigger hit than pokemon go. the nintendo america president
joined us from new york to talk about the upcoming launch. >> we are working very hard with partners at apple, our to make sure that had a server , capacity standpoint, we are prepared. the numbers are going to be more significant than just the 20 million plus. emily: so there are three versions of the game, all free to play but $9.99 to unlock. , that is a risky strategy. some have balked at that strategy. how many do you think of the 20 million will actually pay for that? reggie there are three different : modes within the game itself. there is over 24 different levels. from our standpoint, we believe that a high percent of people who begin to play super mario run will go on to purchase the full application. and i say that with the
experience on the ipad when i have showed off the game. once people start to play, they are hooked. from our perspective we think that the percent will upgrade to the $9.99 will be very high. emily: it is exclusive to the apple platform right now. what is the timeline to get this on to android? reggie it is for now. : in order to develop the game, we had to focus on one platform. we decided to focus on the ios iphone and ipad. in the future, it is coming to android. we have made that commitment and that is something that will happen in in 2017. emily: do you have any concerns about alienating that market? reggie: we do not think so because our focus is to bring it on to all of those devices as quickly as possible. for us, it is about making sure that the experience is great. making sure that from a consumer standpoint they have access to this game. look, we see the market as all 2 billion plus smart devices out
there so certainly it will come as soon as we can. emily: nintendo is part of the pokemon go phenomenon earlier this year. bloomberg has been reporting that the momentum has slowed down. reggie: i would say whenever we did special events -- we did a special event during thanksgiving -- we have seen that spike back up. as we continue to provide new experiences to pokemon go players they will jump in and continue. it is about making ongoing improvements, ongoing special events happen in the marketplace. but again, to step back, half a billion downloads is a huge installed base of consumers to continue activating. emily: sony is hot on your
heels with new mobile games as well. how do you see the balance playing out between consoles and console games and mobile games this year? reggie: from a nintendo perspective, our mission is clear. we want as many consumers as possible engaging with our intellectual property. and having the fun and engagement in doing that. for us, we are going to do that with not only smart devices and a dedicated console business but with our licensed merchandise initiatives. we did something with fans that was tremendously successful. we are also going to be in other forms of entertainment, best exemplified by our relationship with universal studios. with that range, we believe that gives nintendo a tremendous advantage. emily: how do you see the shakeup between pc and console and mobile? obviously you want the game to be successful on all these
platforms, but where do you see the most engagement this year into next year? seeie: for us, we want to consumers engage with super mario, for example on our home , console business. we want to see them do that on our 3ds business. if they are interacting with our ip and are enjoying it, we're not concerned. so we are not placing bets on one area or another. with our developers and the gameplay we develop, we will win in the long term. emily: we have talked about vr in the past. there are people out there who said 2016 would be the year that vr went mainstream. do you think that was premature? reggie: if you look at the marketplace data, that will
suggest that it is. in the end, and we have learned this through our own business. in the end, it is about providing consumers that compelling experience that brings a particular form of technology to life and i don't believe we have seen that. i certainly believe as many others do in the industry, that there is long-term potential for that platform. but certainly to date because has not delivered on the initial numbers that were projected. facebook's oculus came out with the long-awaited hand controller this week. it is called touch and it is meant to let gamers use their hands while using the oculus rift headset creating an even more immersive virtual experience. we talked about how the potential for vr goes beyond video games. >> imagine medical students in their own dorm rooms as they are
studying, could put on a pair of glasses and do simulated surgery again and again and again. they could run through dozens of procedures and continue to get better, all in just a dorm room. this will allow us for us to -- allow for us to advance much faster than we have. -- emily: cbs chief les moonves joins us next. this is bloomberg. ♪
the point is for leaders in silicon valley to build relationships with the incoming administration it initially distrusted and harshly criticized. among those attending was chuck robbins. the meeting is scheduled for wednesday. discovery communications is preparing for a world where customers no longer subscribe to 100 tv channels. the media giant is focused on programming what the viewers want the most in regional markets. in the u.s., the company has seen around a 2% annual decline in network subscribers. david offered his take on the road ahead for content in the wake of the at&t-time warner deal. david: the at&t deal is another indication that every cable operator will need a mobile solution, whether they own it or not. you see it in latin america as well. so this used to be multichannel, this pipe became hard foam and now it is broadband. the person who sells you the
pipe will sell you everything. emily: cbs kicked off december by announcing a major streaming deal. the most-watched u.s. tv network announcing it obtained rights to carry nfl games on the all access streaming service. bloomberg's david westin sat , and beganes moonves by asking about the country's distribution strategy. take a listen. les: we are primarily a premium content company. our job is to provide great content for cbs for showtime and , for the cw. if we do that, all the are going to need us and are going to pay us for what we are offering and we do not necessarily need to be in distributions. david: at&t needed time warner so they went and bought the thing. at some point you will have distributors coming to knock on your door saying, we need you so badly we want to buy you.
les: i sure there are am distributors out there who would like to do that right away. we are a controlled company. so that is more difficult. but i can imagine there are plenty of people out there, especially when you see at&t pay a lot of money for time warner, that a company like ours would be valuable in the open market. david: and you had any discussions yet? say.i am not going to you have discussions with everybody and they all say very nice things about you. david: do you have any concerns about it? in the sense that you have a big distributor like at&t, particularly in wireless, they could favor time warner content over cbs content, right? les: look, we're taking a good look at it to see if if it is advantageous to us or not. we have not weighed in yet on what we think about it and we are looking at it. les: are you open to the possibility of regulators coming
in to have rules and regulations? les: generally speaking i am not a fan of regulators. with the fcc going forward we hope there is a loosening of regulation. i would be a promoter of that. on, let's talk about directv now. they just launched it without cbs. there was a lot of news but you decided to sit it out? why? les: number we always said we one, would join any service as long as we get paid fairly and the conditions we need are met. we are in active discussions right now with directv. we have different needs than some of our competitors who own a lot of cable networks. our centerpiece is the broadcast network. so there are some financial issues, some other issues such as digital issues. i expect us to make a deal with them. i expect us to be a part of it.
once again, we want to be paid fairly. david: have you figured out a way to include broadcast stations in that? as we move into the over-the-top world, can broadcast stations participate and can it affect the valuation of your stations? les: i think the great thing about ott is resetting the table. when we enter the transition to -- transition disputes or negotiations, they were already paying a lot of money to different cable networks. and we were coming in after the party started. now that there is a brand-new party, we are the most watched network. the broadcast networks should be paid more than the cable stations should be because more eyeballs should mean more pay. so we intend to be on every over the top service. we don't think this can exist cbs,ssfully without
without getting the nfl or stephen colbert or 60 minutes. and we are a necessary part of any package. david: they wanted an advantage. so they're building a new business. they want to get the exclusive contents so their rival does not have it. how often does that come up? les: that is where problems come in. stacking right, the ability to get all the shows of a certain season, we only have on all access. that is not to say that if someone made is a very high offer for that it would be available. emily: that does it for this edition of the "best of bloomberg technology." we will bring you all the latest in tech throughout the week. tune in for our new times. thursday we will have full of hong kong's biggest ipo in nearly a decade. remember, all episodes are live streaming on twitter. check us out.
♪ >> coming up on bloomberg best, the stories that shape the week in business around the world. italy's prime minister steps down. the ecb adjusts qe. china's stock markets open a little wider. and a few trump tweets make a lot of news. >> we have seen the offshore yuan versus the dollar trade slightly lower following these tweets. >> we do not really know what the back story is here. scarlet: it has been a monster month for market since the election. investors tell us what they expect when he takes office. >> the