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tv   Bloomberg Technology  Bloomberg  March 17, 2017 5:00pm-6:01pm EDT

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comes at a crucial time for u.s. /german relations. they held a joint news conference after the meeting. house leaders are planning to vote on the plan to replace the affordable care act next thursday. the proposal has been criticized by house conservatives who say it is too similar to obamacare and offers few cuts. governor sent a letter to mitch mcconnell that house speaker paul ryan saying they oppose the plan. the legislation does not ensure adequate coverage and shifts significant cost to the state. rex tillerson says the u.s. is considering all options to counter north korea's nuclear threat. he criticized china over moves to block a missile defense system on the peninsula. tillerson spoke today in south korea. he has to china tomorrow. global news 24 hours a day powered by more than 2600 journalists and analysts in more
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than 120 countries. i am alisa parenti. this is bloomberg. "bloomberg technology" is next. ♪ caroline: i am caroline hyde. this is "bloomberg technology." coming up, mulesoft surges on the first day of trade. why some are calling it a better metric than snap. companies are starting to develop tunnel vision when it comes to self driving technology. the clouds are clearing for oracle after earnings showed strong demand for its cloud services. we bring you c.e.o. mark hurd
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later this hour. but first to our lead, mulesoft surges in its public debut. the company raised $221 million after pricing shares at $17 apiece. that gave mulesoft a market value of more than $2 billion on pricing. it may not have the name recognition of snap. as stock was closely watched perhaps a more realistic metric for the health of the ipo market. alex barinka caught up with the c.e.o. and asked why he thought demand was so high for the stock. >> what investors are looking for is growth. they are looking for a well-run company and something with a big opportunity in front of it. we have all those things. >> break down for us what you do for your customers like coca-cola or bank of america. >> all of these companies have to deal with a massive explosion of applications, data, and devices.
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and connecting those things together is incredibly difficult and expensive. we help them build out an application network to make those connections happen. >> the application network connecting all those different technologies is something likes of oracle does an ibm does. and a lot of providers write their own code to compete with what mulesoft offers. how are you making sure you are the goto? >> the big challenge for everybody is how to do it without writing custom code. 99% of the world is still writing custom code. we have to provide the best product and platform to do that. we provide amazing developer experience to make it easy for them to develop this integration. >> you talked about investors' need for growth. over the past 18 months, we have seen an interesting shift. it went from wanting revenue growth to being more concerned about profitability. when i look at your financials, free cash flow specifically, it
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was down 44% two years ago. last year down 4%. it seems like you have reigned in cost. what were you thinking about in the run-up to the echo? how important was profitability to show investors you can get there one day? >> the key is to have a balance. it is not growth at all cost or profitability at all cost. you want to grow in a sustainable way. we have been raining in the cost but also growing extremely well, growing 71% last year. keeping the growth up but also being very cost cautious at the same time. >> that cost consciousness has descended on silicon valley lately. what was the catalyst for you to say we need to take a good look at where we are spending money? was it getting ipo ready? were some of your backers advising you on these things? where did the real decision-making come in? >> as you get bigger and build a larger company, with the growth
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rates, you want to show and demonstrate you can build a company that has a sustainable business model. we knew at that point we needed to start showing that. >> when i look at where your revenue is coming from, a lot of it is from the recurring revenue streams you talked about. some of it is revenue from installing and getting the product in there. where is the growth going to come from? the flagship product? a new line? what are you looking at? >> it will be the flagship product. it is 15-20% of our revenue. it will be the application network we help people build out that will continue to be the growth driver for mulesoft. caroline: dallas mulesoft c.e.o. greg schott speaking with alex barinka on the first day of trading. is the first of a handful of software companies planning to go public in the near future.
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the market could be heating up. while snap could be a cautionary shares fell below $19 for the first time. alex barinka is with us for more. and our guest host this hour is david kirkpatrick. alex, great interview. remind us why they are raising this money. shares up significantly. it looks like they could be pressed for cash in the future. >> greg told me the cash is probably going to go to mostly general corporate expenses. he also talked about acquisitions. when asked him what areas he would look to buy for, he said ckobably a tech in -- tu acquisition insecurity. he means buying small teams and products he could add on to the mulesoft platform. million, some of that buying out competitors. caroline: fascinating.
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david, i want to get your idea of the sentiment. this is the third tech ipo we have had. do you think the door is open for software? >> it seems like it has. regardless of performance of snap post-ipo, i think it showed you could do something successful from the raising point of view. tech companies have donald trump to thank because the market is superstrong. snap's incredible marketing machine to thank for making it clear this kind of thing is possible. it was great for all of these enterprise tech companies that a consumer company went first week as people always understand and get more excited about consumer companies because they can relate to it. these are the real media companies the economy depends on. i think it is healthy and we will see a lot more coming out. stay right there
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because we have been chatting about snap's ipo. it is the unusual lack of voting rights that was a key concern for some investors when it began trading in the united states. it is now reportedly causing problems in the u.k. as well. bloomberg was the first report that a group of fund managers are lobbying against including snap in the london's stock exchange due to corporate governance concerns because of the nonvoting shares. ipo, in the run-up to the this was something investors were talking about. this is the first time we saw a u.s. company come to market with zero in terms of voting rights for those that were going to invest. >> it was. in the u.k., those are not the only ones concerned. i talked to a number of fund managers. it was the index funds that do have the biggest issue because when the stock gets in, they have no say. they are the ones pushing the governance issues when it comes
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to executive pay, buybacks and dividends. there are several groups in the u.s. a lot of the managers belong to. i am thinking of the state streets of the world, big names that hold a lot of the stock in the u.s. in these index funds. this issue will be one that will continue to rear its head as snap continues to trade. frankly, if this stock goes up into the right, these may not be concerns brought up. now that it is falling down closer to the $17 share price, these concerns are going to come close to the forefront if this company struggles more often than not. one they certainly will be looking at as they are still locked up in the stock. david, you are the man with your finger on the pulse when it comes to the start of community. will take thehey approach snap did or do you think it was a one-off?
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>> i hope not. i do not think they will. people like alex and myself have been talking about this throughout the ipo process for snap. mentality of wall street seems to want to disregard this inconvenient fact. these guys are geniuses, let them have their way. i think it was a mistake. we may begin to see it really was a serious mistake that could hurt them. i do not think companies need to do this. i think it is a little hubris that led to it in the case of snap. i would say definitively not expect to see this a lot more. caroline: alex, you're speaking to bankers hoping more companies will be coming out with ipo's. do you know if we might be seeing some of the bigger, slightly older startups like pinterest? i know we have to wait another year for airbnb. spotifyl also throw in the mix.
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they convert more equity the longer they wait. those are some of the bigger names. cloudara is looking at just over $4 billion market value. the majority of tech companies that go public in a given year, the vast majority are going to be enterprise which is why mulesoft is so important because it is an indicator that a company with revenue not profitable is able to drum up demand for the stock. caroline: $1 billion in the first day of trading. alex barinka was all over it today. david kirkpatrick is sticking with me. another story we are watching from great britain, google announced changes to its advertising policies after major including theu.k. british government pulled their
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ads off the platform because of appearing alongside offensive content including anti-semitic videos. google made nearly $8 million in ad revenue in the u.k. in 2016. the company said it would give clients more control over where their ads appear. apple will set up two more research centers and boost investment in china. is it enough to take on its local smartphone rival? we will discuss. this is bloomberg. ♪
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caroline: now a story we are watching. chip businessry is attracting bidders.
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the bank of japan is considering a joint. offer with u.s. bidders the numbers of interested parties may. increase beyond the current 10 sales to makeking up for a multibillion dollar write-down in its nuclear operations. apple has revealed it will spend at least half $1 billion to set up two additional research centers in china. it represents the single largest overseas market. the iphone has lost ground to local rivals. still with us, guest host of this hour, david kirkpatrick in new york. this is sort of like a tested way to cozy up to the government and maybe curry favor and do your business some good. david: probably more than any other country on the planet, it really works in china to show you as a company are willing to help the government achieve its own goals. and their goals include increasing research in china,
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developing more competence among the research community, ultimately will include training more people. i am sure apple will get involved in that. microsoft got a lot of mileage when they started helping entrepreneurship in china. i wrote a big piece for "fortune" about this. microsoft -- china until the day it did that and everything took off. windows got licensed legally. all kinds of things. a little investment can go a long way. the baidu chair was discussing china perhaps becoming a hot spot in terms of tech entrepreneurialism and talent and perhaps luring away from the u.s. does this suggest we could see tech talent mother country's move to china? david: i think probably yes. i was super impressed by the interview last week. really impressed. i have talked to people about it. i think he said a lot of things
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that surprised me about china wanting to be a magnet for skilled immigration. that was a very new idea. i think if the u.s. continues on this path of going towards a more closed mindset with our own economy, you are going to see a lot of other countries making hay with that. even u.s. companies helping those other countries make hay with it. country that is a has got a huge tech marketplace, huge tech industry. we cannot take them for granted. we cannot take our competitive position with them for granted. i am afraid the way washington rhetoric is going we are taking a lot of this for granted. caroline: apple certainly cannot take it for granted. when you look at the market , china seems to be losing its luster. smartphones being made in china are so powerful with a good price point. do you think apple can start to win back some market share? it is crucial when it comes to
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20% of its revenue. david: that is not the big china question in my opinion. i think a lot is riding on the next iphone coming out this fall being a major shift and move forward with fundamentally new qualities. i have heard a lot of people saying they think it will do really well. i have yet to your argument about light it will be so different from the extremely good iphone i have in my pocket now. andt were really cool different, the chinese will respond to that as well as any country. goes to be a global market phenomena, china will go along with that. if it is a slightly better smartphone, i think there is plenty of competition that will hurt it in china in particular. caroline: i have been having this discussion that at the moment the top of the pack does seem to be alphabet. it seems to be amazon that can do no wrong. you are looking also at the likes of microsoft managing to get on track when it comes to cloud.
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what boat did apple miss? shouldn't it have gotten outside of the consumer technology or is it waiting to reinvent what we need to be by next? david: i would not say apple missed some boat when their stock is at an all-time high. apple did the most amazing thing inventing the iphone and tim cook scaling it. steve jobs and tim cook was an amazing combination. one thing apple has never understood is social. not even in the slightest. you have to kind of get that. maybe even when we are talking about a i were the quantity of the data makes it work, and even amazon has that more than apple. and they are doing a timeless a.i. -- a time with a i it may make a difference. apple has not understood how to think about a community of people in technology. that probably is hurting them. they are great at a personal
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device, not a community. caroline: suddenly trying to talk of the services side of the business and the billion units. david kirkpatrick will be sticking with us. several tech stocks hit all-time highs this week. we heard david talking about apple. facebook did, too. oracle will show if the momentum is in the market. this is bloomberg. ♪
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caroline: now we discuss the current ipo market earlier. what about the wider market? abigail doolittle joins us from new york with more. stocks across asia, europe, and the u.s. finished higher on the week. how did tech fare in the bush context? >> it was a solid week for stocks around the globe, especially in the u.s. tech outperformed the other
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major averages when we look at the weekly change. the nasdaq is up top. this is the tech heavy index, up nearly .7%. last week, it was a decline. before that were six up weeks. over the last eight weeks, the nasdaq has been up seven. a bullish stretch. for what is behind that strength, we are looking at big names like apple and tesla. onle hitting a record high bullish comments from goldman sachs on iphone shipments. adobe also at a record high. nvidia up for two weeks in a row. tesla having its best week since july of last year. some real strength. one stock that stands out is not a part of the nasdaq. but oracle, what a quarter. they beat earnings by 14%. what investors really liked from oracle is the fact clouds sales
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grew 11%. they are hot on the growth in the cloud. oracle on pace for its best week or did have its best week since december of 2014. some real strength. very interesting is the fact we have all of these stocks at record highs but oracle's last record is back in 2000. something we saw with microsoft not long ago. microsoft did shatter it a few months ago. maybe that is ahead for oracle. caroline: we are going to be bringing sound from the oracle c.e.o. in a moment. you mentioned tesla as well. this is a top player in the nasdaq. big news this week. what has been the investor reaction to the stock conference? >> earlier today, i did read from kevin the big news is what you're talking about. the capital raised, $1.4 billion. the fact it will not dilute shares. investors like this. it gives investors confidence
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the model 3 will hit production on time. he makes the point we could see back funding in 2018. he does not think this is the first capital raise. overall, this stock is on fire. we take a look at the bloomberg. this is a longer-term chart. we see the stock trading in a major range. from the ipo in 2010, up more than 1400%. that is incredible. this chart shows uncertainty between the bears and bowls. the bulls are very positive on elon musk's vision. goals of think of the the vehicles in 2018 unattainable. plus the high cash burn. % bearisha 26 shortage. it will be interesting to see if the bulls can push through or the bears take it back down to the bottom of the range. caroline: watch out for bearish bets.
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nvidia is a favorite chipmaker. it has had a standout 12 to 18 months but also been good this week. >> incredible week. up very strongly. i did reach out to another bloomberg intelligence analyst and he said it is on the paccar announcement. they are doing so much to upgrade their auto chip business plus the core gaming. lots of good stuff for nvidia. he did point out valuations. something to keep an eye on for nvidia and other chip stocks. caroline: lots of good stuff as ever from abigail doolittle. thank you very much. coming up, vindication for yahoo!. we explain why next. this is bloomberg. ♪
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alisa: i am alisa parenti and you are watching "bloomberg technology." let's start with a check of your first word news. president trump met with angela merkel for the first time since he won the election. they discussed trade at a news conference after the white house meeting.
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president trump: i'm not an isolationist. i'm a free trader but also a fair trader. our free trade has led to a lot of bad things happening. you look at the deficits we have and you look at all of the accumulation of debt, we are a very powerful country. we are a very strong country. alisa: the u.s. is investigating claims about 40 people said to be mostly civilians were killed in a mosque after an alleged u.s. airstrike at an al qaeda gathering in syria. friday prayers were canceled across rubble-hope parts of syria while the search continues for potential survivors. british prime minister theresa may says the u.k.'s sticking to her timetable for steering the country out of the e.u. she addressed the conservative conference today in wales. >> during the next two weeks, we gger article 50 a
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begin negotiations to secure departure from the european union. great national moments define the character of the nation. we have a choice. deniedsean spicer flatly the u.s. apologized to britain over allegations british intelligence spied on president trump after the spokesman cited a fox news commentator that the british helped president obama spy on mr. trump. a british spokesman called the report utterly ridiculous. the irish prime ministers opposed to a hard border between england and ireland after the brexit. he spoke on bloomberg after meeting thursday with president trump. >> explaining to the president and vice president where not determined on a hard border. alisa: estimates put the irish living illegally in the u.s. in the tens of thousands. new yorkers celebrated st. patrick's day today in honor of irish heritage.
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more than 40 somali migrants in a vessel in yemen were killed in what security officials say was an airstrike by a saudi led military coalition. a spokesman for the international organization or migration confirmed at least 80 other people were hospitalized. iran has reached an agreement with saudi arabia after tehran's 2015 boycott of the pilgrimage. iran withdrew from last year's haj after 54 citizens died when a stampede killed more than 2400 people. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. i am alisa parenti. this is bloomberg. ♪ this is "bloomberg technology." i am caroline hyde. this week, the u.s. government blamed russian intelligence for another high-profile hacking, the 2014 breach at yahoo! of
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half a billion accounts. they fight television on self-driving technology. we are joined by tom giles, bryan womack, and david kirkpatrick. i have to turn to brian. what a scoop. it was all about how you who might be vindicated for the past few months saying this was a government-sponsored attack on us. >> exactly. go back to september, the first day we found out about the amazing hack in the middle of the verizon deal. they said it is state-sponsored. it was a state actor. honestly, a lot of people were saying corporations say that all the time. it is now march. they have come this far. there's this huge story where the geo has a huge press conference. they say it is the russians and it is a big deal. yahoo! had a victory lap or some
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sort of vindication on some level about what they have been saying. was -- therethere was some lapsing on yahoo!'s part as to some security they put in place. what is the reaction you're getting? >> in fairness to yahoo!, you're up against the russian federation. it is a formidable opponent. they have a lot of resources at their disposal. two employee hackers across the world to do their bidding. give them that much. that said, there were still vulnerabilities in yahoo!'s system. we got a lot of deeper insight into what those were. there were things they could have and should have done. these are things yahoo! has admitted, the lapses they admitted to. marissa mayer took a pay cut. executives from divisions within yahoo! who were responsible for this left the building.
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there is some culpability here. there is some responsibility, enough for them to renegotiate the price with verizon. verizon wanted to cut one going dollars off the deal. they got about half of what they asked for. there was some admission on the part of yahoo! they were in some ways responsible. caroline: david, i am sure you are bursting with questions. david: are we at the beginning of a rash of these kinds of things? companyvery big tech expect they will be subject to this sort of intrusion? is it is bizarre combination of criminal and government russian assault? >> every company should be on alert, especially companies that have lots of customer accounts. we have seen over the last several years several high-profile, target, banking systems, yahoo!, one after another.
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even with yahoo!, they used some of that data to go after other email providers. absolutely, if you are a big major corporation, especially if you have access to hundreds of millions of customer accounts, what they are doing with their money, connect communications, you should absolutely be on the lookout. you should be taking extra safeguards. how much of this is going to be on the part of state actors working with actors the best hackers, that is a tougher call. we do know they are becoming sophisticated in using cyber warfare in their arsenal. caroline: are you finding some c.e.o.'s are doing cybersecurity as top priority and worried about safety? >> i think you are hearing more about that. i think john was a great example of how bad things can go -- i think yahoo! was a great example of how bad things can go. we have this huge deal that have come together finally in july. less than two months later, we are talking about half of their
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user base being hacked. this is huge. this almost a rails more of the biggest web deals of the last couple of years. everyone should be paying more attention. we don't always know what will happen. but they should be doing that. david, talking about deals, what do you think of the $15 billion mobileye was swooped up by, by intel? it did not get as much coverage as the ipo by snap. david: i think it is the biggest deal intel has done. it is a statement about what some of the biggest players think is the future of self-driving vehicles, which is huge. i think we all continue to be amazed this industry is coming forward as fast as it is. your hero was skeptical of this deal on one of your programs i saw. i think it is probably smart for
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intel to be making a big bet on something fundamentally new. i would look at the way intel is thinking is not just about self-driving cars. they are making a big bet on the internet of things and connected technology generally across the economy because they see if they get really good technology in that set of opportunities, that could be a p.c.-scale business. that is what they desperately need, another p.c.-scale since they missed the smartphone. i am not shocked. i think it is a good deal. caroline: tom, this is another player like waymo, google, uber getting into autonomous vehicles. >> $70 billion is the number at the forefront of intel's mind when they write a check for $15 billion in cash. money overseas that has been collecting dust in many ways. like many big tech companies, they have a lot of money overseas. they are looking for ways to
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deploy it. they do see a big market in self-driving vehicles. the idea is mobilized sensors paired with intel's chips will help these cars do a better job of not hitting you and me when we are crossing the street. it is an important set of tasks for any self-driving car. the idea these cars are coming is very real in the minds of a lot of companies across silicon valley. the thing that intel needs to them number is they have had a spotty track record with deals. mcafee as a case in point. they went after the security company and spent a lot of money on it. mobileye, the third most on a forwardl ebitda basis. it is not a cheap deal. they have to make sure they avoid those mistakes. they need to make sure mobileye and their technology remain at the forefront of an increasingly competitive space. you mentioned google and waymo.
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they are going after it really intensely, as are all of the car companies. apple is in there, uber is in there aggressively. it is a competitive space. can mobilize stay at the leading edge? decided to leave mobileye in israel to make sure it fosters that growth. we are talking about uber. it is a fascinating week in terms of waymo and uber going to court. uber wantsas though betty: to keep things out of court overall. david: the amazing thing about uber is how many different ways they have found to stumble. managerial, employee relations, legal, competitive technology problems.
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if there is a type of problem a tech company could have, uber seems to have it. i don't think that is promising for what was until recently thought to be the hottest private company in the world. caroline: we will see whether it does. it is probably delaying the inevitable ipo so many people are desperate to hear about. thank you very much. my guest host for the hour, david kirkpatrick. ckd tom giles and brian woma with the amazing scoop on yahoo! earlier this week. an update on another court battle between palantir and a longtime investor. they sued the company saying it attempted to -- the attempt to share cells was fortunate and financial information was withheld. it comes after partners claimed the managing member stole trade filed five patents
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in his name for work completed by the company. interesting times for the court. coming up, an extended conversation with oracle c.e.o. mark hurd after shares hit a record this week. that interview next. this is bloomberg. ♪
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caroline: oracle's that on the cloud is paying off as it claimed its position as the fastest-growing cloud company at scale when it reported third-quarter earnings on wednesday as the company continues to push against rivals. cory johnson caught up with oracle's c.e.o. mark hurd earlier from indian wells, california. he started by asking about what is driving the company. take a listen. >> it is a culmination of all
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the things we have been doing over the past several years. i don't think this should be looked at as an event. it should be looked at as a culmination of a lot of activity or strategy. i think there were many good numbers in the quarter. we grew 86%. that is a big number. our infrastructure number was big. it will get bigger. it is a bigger market. it is a bigger opportunity. you should look at the execution of our entire strategy. the application strategy, platform strategy, and infrastructure strategy. we are excited about it all. cory: how does the other strategy at the infrastructure and service business? >> we started several years building out the application layer. we then really worked a lot -- cory: the way to do different stuff on the cloud. >> applications like h.r. and sales and marketing, etc. it was important to build it out first. it is harder to go from bottom-up fan top-down.
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applications are hard. we moved our platform. we went after the platform business. now we are optimizing the infrastructure as a service business for the rest of the strategy. cory: as that growth, i never would have thought i would be talking about amazon as a competitor to oracle. a smaller database. coming on and gaining market share. i wonder what you think of that. doing better than a house in the past in terms of market share. >> let me give you a view of the business a little differently. if you look at our database business across our license business and database as a service offering, our database is this in the quarter grew in totality. my guess is also gained shares. our database business is very strong regardless of where you place the database.
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from an infrastructure as a service perspective, there will be things we can do that nobody else in the world can do. cory: google, microsoft, amazon? >> nobody. whether clustering, security, performance, any of those things you would like to do with a sophisticated database like ours, nobody would run the oracle database better than oracle. cory: you think that is why you are seeing the flywheel effect where the growth is getting faster? >> i think it will grow bigger. if we were using a baseball analogy, i would not say this is the first inning. i would say we are still in the dugout. we are just about to come out. this is going to be a huge growth business for us. cory: as we see the business , with oracle there have been strong margins. one of the things amazon has been willing to do is go to low margins.
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i wonder if you are willing to try to take market share because you are still in the dugout. >> we are going to be very aggressive in price. is also about cost. we happened to bring to the cost equation all of the pieces. we have a hardware business, database business. our cost base is materially lower than almost everybody else because we own all of the components. we don't have to go out and buy the database from somebody. we don't have to buy the operating system from somebody or the hardware system. we also have scale. when you add those together, we think we can be extremely competitive. it is not just about price. it will be about the other things i described. it will be about availability. it is not helpful when you go down during the day. you have to be available. it does not matter who it is.
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you can't go down. you have to be available. you have to be secure. you have to be able to drive performance. some of these databases run companies, core processes. they have to be secure and perform. nobody will run the database in the world better than we will on all of those dimensions. cory: that will be the tool to keep margins healthy. >> yeah. and we have several advantages in the core technology that we think gives us a heck of an advantage. caroline: dallas cory johnson speaking with oracle c.e.o. mark barton. coming up, robots are slowly taking over the additional workforce. we will bring you a surprising company aiming to make robots more human friendly. a feature we would like to bring to your attention, our interactive tv function. you will not only be able to watch us live, but also see previous interviews and dive into of the functions we talk about.
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you can become part of the conversation by sending us instant messages during our shows. this is for bloomberg subscribers only. check it out at tv . this is bloomberg. ♪
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caroline: when you think of autodesk, you probably think of desktop software and traditional manufacturing. companies are diving into creating smart robots by developing peripheral vision systems and software which allow robots to work closely with humans. alex webb has the story for us. >> it is frustrating sometimes to hear this rhetoric about bringing jobs back to the united states. those jobs are still here in the united states that they are being done by robots, not humans. ♪ francisco, autodesk is cooking up something that may completely shakeup how humans and robots get along in the
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workplace. >> one of the things we have the lab are a number of robots, accurate, powerful, universally available. >> as impressive as these mechanical beasts are, they also have mysterious innovations. >> they are blind. they have no perception of the place they are in. they can easily do serious harm to a human. >> that is where the new software is giving back to robots the gift of sight and touch. they can work side-by-side with people. >> basically be more functional in the human world which is chaotic and random and full of mistakes and errors. it is almost like an evolutionary step. >> the new software instructs the robots to build a design with a blowtorch. it teaches the robot to use a camera and scanner to check its work against the plans. >> it is watching. the laser scanner comes in. >> the camera and the 3-d
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printer are seeing how accurately it is done. it adjusts it slightly. >> let me reprogram myself and adjust whatever the mistake is to correct it. >> as we are teaching the robot to pay attention to what it is doing and do a better job, you can apply that to almost any automated process. >> while they are not completely taking over yet, what is clear is that new robot workers are here to stay. we better try to get along. >> it will crush you into a pulp. >> duly noted. caroline: that was alex webb reporting. more headlines catching our attention. youtube has increased the number of women in its ranks. since 2014, the number of women at the company went up from 24% to nearly 30%.
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youtube is boosting gender diversity at a faster rate than its parent company, google. women make up 31% of google according to the latest report. silicon valley has represented at the white house today. salesforce and the ibm c.e.o. joined the roundtable discussion with angela merkel. among the issues discussed, workplace training. they have been a consistent advocate of gender equality. ibm is interested in closing the skills gap by offering high school students technical skills early on. they are looking to leave silicon valley. the chinese tech giant is selling a 49-acre property it purchased from yahoo! less than a year ago. the group is in the running to buy the property for $260 million. the c.e.o. said in a letter to employees that rapid expansion
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dried up its cash reserves. since then, the company announced layoffs worldwide with hundreds of jobs cut in india and hong kong. that does it for this edition of "bloomberg technology." remember, all episodes are now live streaming on twitter. at 5:00 int weekdays new york, 2:00 in san francisco. that is all for now. have a very good weekend. this is bloomberg. ♪
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♪ >> from our studios in new york city, this is "charlie rose." >> good evening. i am dancing or going in for charlie rose. votes went to the polls to in one of the least exciting elections on the european cand e calendar. the vote matters because of the wave of populism throughout the west. the dutch boat is the first of a trio of elections that will tell us a lot about the future of europe. tonight, we talked about what happened

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