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tv   Bloomberg Technology  Bloomberg  March 6, 2019 11:00pm-12:00am EST

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emily: i'm emily chang in san -- in new york and this is "bloomberg technology." coming up the next hour, the social network is about to get a lot less social. facebook ceo mark zuckerberg says he thinks the future is a more private platform. plus, huawei's day in court. the date is set for huawei's cfo's extradition case. we look at how the legal battle between a chinese telecom giant and the u.s. and canada is
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heating up. to the top story, facebook's ceo mark zuckerberg, who has spent his entire career pushing for open communication, said the future is going to be more private. in a blog post wednesday, he declared the company's future product development will be focused on encrypted and ephemeral communication as more users want to interact privately. he wrote "i believe the future of communication will switch to private encrypted services where people can be confident about what they say to each other to stay secure and their message and content won't stick around forever. this is the future i hope we will bring about." this amid heightened scrutiny about facebook's data collection practices which are being probed by several governments around the world. joining us to discuss, activate ceo michael wolff and bloomberg's sarah frier. facebook doesn't necessarily have the best track record of
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keeping anything private. what you make of this distinct change in strategy? sarah: to your point, i think it is a little about increasing that trust with users around privacy, but in my opinion, a lot of it is about the fundamental problems facing facebook today, which is public and private scrutiny. also, the problem with content moderation. if it is encrypted, facebook can't see what people are saying, and therefore doesn't have to fix it. of course, zuckerberg phrased this as something users want. he said users want more private communication. it's the fastest-growing aspect of our business, we are doing this because of the demand. it is worth noting how it will affect their perception problem. emily: can we trust facebook to make facebook more private? michael: zuckerberg wants to go from the digital town hall to the digital home.
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the problem is, i'm not sure people trust facebook. he says this because he recognizes this trust challenge, but in reality, they are talking about protecting the privacy of people in a broader conversation, but not necessarily their privacy versus facebook. facebook is ultimately in the advertising business. emily: you will still be giving all of your information to facebook. michael: the battleground will be around messaging. if you look at facebook and -- controls between messenger, whatsapp, and instagram, they control the majority of the messaging around the world. that doesn't mean people worried about privacy are not going to go to other platforms like imessage or other emerging programs like telegram and signal. let's not forget we chat, which will dominate other parts that don't have the others in china. these are merely defensive actions, and users will be very skeptical about this. emily: sarah, talk about what he said. he said services would be opt in, and if you want your
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messages to disappear, maybe they will be able to disappear. we don't know what this all means, but how do you think this will look or feel different for a user? sarah: think about the position facebook is in. they are being scrutinized by governments around the world who say they don't give users enough choice. zuckerberg always thought it -- if we give people choice, they probably would pick an advertising supported network, probably would pick to post publicly. a lot of this maybe won't be as big of an impact on facebook as we think. that said, he was deliberate about explaining everyone has been using instagram stories and whatsapp statuses, these parts of the services that only last for 24 hours. he wants to bring that disappearing nature to more of facebook's content so it becomes less of a permanent record of your life and more of a rotating version of you. so things can disappear maybe in three months, maybe in three years, you can decide.
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emily: michael, you have done a ton of research on digital advertising. how do you think changes like this, no matter how they are put into practice, will affect facebook's business? michael: a lot of what the platform allows is to enable the advertiser to find specific groups of people and surmise their interests. it's not likely to affect facebook's advertising business. in fact, it could enhance them. the broader challenge is facebook is going to merge from being a broadcast platform, which is where a lot of the problems were, a lot of the misinformation, foreign data operations took place in that broadcast surrounding. they say it is more private and a lot of users will wonder to see what happens. facebook began as a private platform. it was something for university students to talk to each other. in order to become a commercial enterprise, it had to open up
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even more. we have to expect this will be engineered and designed in a way that it will only enhance facebook's advertising business, versus impair it. emily: there was a new development in terms of the government scrutiny. facebook won a freeze on some of the disclosures in washington, d.c., privacy lawsuit. the d.c. attorney general has been suing the company, claiming it failed to protect consumer data tied to cambridge analytica. what does this mean? sarah: facebook has had a lot of big document leaks it are from governments or news reports. facebook has had various leaks and the companies will face regulators, lawmakers, and this is the year it will happen. they need to be proactive about coming up with solutions before the government comes up with solutions for them.
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that is how that ties into the news you hear today where facebook says we are going to give users more choice, we have heard of them, but like michael said, i think that will still be in service to their advertising business. emily: michael, what is your outlook on that just facebook, but instagram, whatsapp, and whether users are going to keep coming back? are they just so large that users don't have a choice when it comes to other products, or will these privacy issues, ultimately, be the downfall? michael: already, engagement on instagram already surpasses that on facebook. there is a group of people who keep coming back every day to instagram. to some extent, since they are younger, they are less focused on privacy, and the content that is shared on instagram doesn't have the same level of depth that it doesn't facebook. -- does on facebook. they will be less vulnerable. facebook itself, we should expect a lot of people are going to continue to be skeptical about it. they may share less. then you look at whatsapp and
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messenger, and there is no barrier to entry. somebody can come in with a new service, your content isn't on it. it immediately scrapes your context, so you can get up and running on another service. that is where facebook might be the most vulnerable. we may see a wave of social splinter as a result of that. emily: social splintering, i like that. i will use that. michael, always good to see you. sarah frier, thank you. i will see you on the west coast. the ceos of apple, lockheed martin, and walmart joined a board that will shape the administration's efforts to developed job-training programs that meet the changing demands of u.s. employees. the board will work to develop a national campaign to promote education, training, and better identify company's hiring needs.
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there you see tim cook with president trump. massive funding rounds dominated venture capital in 2018, but could a macroeconomic slowdown dent this year's funding? we'll discuss. if you like bloomberg news, check us out on the radio. listen on the bloomberg app, bloomberg.com, and, in the u.s., sirius xm. this is bloomberg. ♪
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emily: 2018 was a historic year for venture capital. according to a picture book and the national venture capital association, venture capital firms spent roughly 100 $31 -- roughly $131 billion across 8000 deals. that's more than a 57% increase from the year prior. will that trend continued this year? joining us to discuss his our next guest. great to have you back on the
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show. how is 2019 compared to 2018? beth: at the end of last year, we saw the yield curve inversion, and some sort of concern about slowdown, but into the first quarter of this year, we have not seen that slowdown. deals are just as competed as they were last year. funding rounds are as big, if not bigger. more yield is being preempted, so before they go onto markets, someone will come in and give them a term sheet or do a deal. emily: if you take softbank out of the equation, is it still as robust? beth: that's a good question. i think so. i think so. funds are -- there are more and more funds being raised. they are bigger and bigger. while softbank has invested big dollars in 2018, i think the bulk of the funds increases over
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the last year or so will make up for that. haslinda: -- emily: are you at all concerned about the political uncertainty tied to the economic uncertainty given the election cycle and what is going on with china? beth: in the private markets, particularly venture capital and early-stage venture capital, while we keep an eye on it, we don't necessarily see the trends for 6, 12, 18 months after they enter the public market. emily: let's talk about the public markets. we've got lyft on track to go out, potentially, in a couple of weeks. uber and pinterest. i know you can't talk about pinterest specifically, but what is your outlook on deals this year? beth: it will be a big year. it is shaping up to be a big year in 2019 for ipos. what makes me most excited as an early-stage investor is that after a wave of ipos, we see a lot of innovations.
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the people who were building in -- and scaling those businesses coming out and thinking of new businesses and starting those businesses. we will continue to see a bunch of innovation six to 12 months out. emily: you have an interesting background because you were the coo of fab. you have seen the best and worst of competing with amazon and other retail giants. what do you expect to happen in the e-commerce landscape over the next year? it seems like we are seeing a rise of these niche players who can compete against amazon, but you wonder for how long? beth: when we are looking for companies, we look for the companies capturing the hearts and minds of the consumer. something that is differentiated, something that amazon is not quite doing right now. we are seeing a trend to investors having a closer eye on profitability and sustainability. emily: are they though?
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because lyft is losing half as much money as it is making. beth: yeah. that is not e-commerce, though. especially in the e-commerce space, there feels like there is caps on the scaling pieces of some of those companies. emily: 8000 vc deals last year. 2% went to women led companies. such a fraction. will that change in 2019 or do you think it'll take longer? beth: i hope so. i think it will take longer. emily: what are you doing in your firm to try to make sure you see more women entrepreneurs and surfacing all of these people who may have been overlooked? beth: one, we are spending more time sourcing and also having someone like me, which looks like some of those female entrepreneurs, helps the pipeline as well.
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in the last year, we have increased the number of female founders we've backed. emily: so quick 30 seconds, what are the hot trends in 2019? where will you put your money? beth: i spent a lot of time in the consumer space, but also the backend businesses, supply chain, customer service, how do -- future of work. how do we get these companies up and running and continue to scale? as we think about the profitability piece, make them more efficient. beth ferreira, managing director irstmark capital. thank you for stopping by. grab has secured new funding from softbank. the company will use the investment to take on its rivals, next. this is bloomberg. ♪
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emily: this art has been created by artificial intelligence. this art. question is, will collectors want it? that will be found out at a sale in london next month. four months ago the first piece of art was sold and a human was involved in that case. this new artwork was totally created by a computer. southeast asia's leading ride hailer grab announced its raising of $4.5 billion in financing. grab's president told bloomberg what they plan to do with the new funds. >> we are very excited to have closed $4.5 billion in new funding. this is a new record, the largest private financing of its kind in southeast asia. we continue to see tremendous investor support and interest in joining around. haslinda: you've raised more
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than $7 billion. why do you need additional funding? ming: if you look at the southeast asia region, it is an incredibly dynamic market where the consumer class is rapidly digitizing. within this digitization, we see tremendous opportunities to grow our super app platform across every market we operate in. if you look at the go to market strategy last year, our revenues more than doubled to over $1.1 billion or 2018. -- third 2018. our food delivery business is through 2018. our food delivery business is now the only regional platform for food present in six different countries. revenues improve -- revenues have grown in 2019. our payment businesses is the only -- business is the only platform across all countries -- all of the six countries. as we think about this financing, we will be investing a bulk of the capital into continuing to develop our super app services, particularly in
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food delivery and platform in indonesia. in indonesia, in particular where competition is stiff at this time, can this be a game changer for you in indonesia? ming: indonesia is one of our strongest and fastest growing markets. in ridesharing, we have 60% to 70% market share. our food delivery business has grown more than 10x in volumes. our payment solution is part of the most vibrant ecosystem in partnership. we see tremendous opportunities to continue growing, not just in indonesia, but across the entire region. haslinda: with the latest funding, what is the valuation of grab? >> we don't disclose valuation, but what i will say is we have been pleased with the valuation investors have given to us in this round, number number two, i one. think we are pleased with the
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universal support we have seen from investors around the world. rishaad: thank you so much for joining us. how much of this money goes toward your trajectory and firming up your trajectory for profitability, and in other words, when would you make money? ming: thank you for the question. first of all, i will say we are already profitable in some of our most mature business segments and in our more mature markets. in the markets where we are not yet profitable, we have a clear line of sight to getting there. what i'll mention is what makes us distinct from some of the other global ridesharing companies is the platform of services we offer, and the ways we are able to engage with our customers is much broader than purely ridesharing or food delivery alone. so i think ultimately longer-term, the economics on our platform will be significantly better than ridesharing companies around the world. rishaad: tell me then, when you
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look at the businesses and you take a look at exactly what will be profitable -- when you will be profitable, is there a point where you will say ok, now we will ipo? how far away are we from that point or the ipo itself? ming: sure, we certainly do not have plans for an ipo at this point. two points behind that, we have a healthy balance sheet, particularly after this financing, number one. number two, we see tremendous opportunity to continue growing our regional super app platform. for now, we are laser focused on executing our strategy. rishaad: this naturally brings me to the obvious question, which is, how closely are you watching lyft as it comes to the market? ming: we're certainly rooting for both ipos for uber and lyft. those ipos will go a long way
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toward educating the public markets about the sector we are in. having said that, a very distinct difference between our business and the ridesharing companies globally is our focus around a much broader platform, not just solely ridesharing or food delivery, but also grocery deliveries, last mile logistics, mobile payments, much broader ways to monetize engage with customers. haslinda: there has been scrutiny in terms of regulation as well as new challenges to the business model, especially in the u.s. do you see the same environment happening here in asia? ming: we don't see the same dynamics happening in southeast asia. if you go back to one of our core missions, really around how do we enable entrepreneurs to thrive across southeast asia, our goal is to create over 100 million entrepreneurs on our platform. whether they are drivers,
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whether they are restauranteurs, people that operate their own businesses. if you look at the average incomes of our partners, across the region, they generate roughly 30% plus higher incomes than the national averages. that is key. as we continue to promote and enable entrepreneurism, that is the key to advance our platform. rishaad: we look at all of the businesses and there has been criticism you have too many silos. how do you respond to that? ming: we don't think of ourselves as a siloed business. in fact, what we think about our business is the super app platform that provides the most relevant services to our consumers in each of our markets. some of those markets may be ridesharing, other markets may be food delivery and mobile payments.
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weis all around, how do identify and best understand the customers in each of our markets in for by the most relevant services to our customers. haslinda: one more question before we let you go. saw -- merging in singapore. is that causing a dent in your business? ming: we love competition. we are fond of saying iron sharpens iron. i do not believe we would be where we are without having great competition in the past. we are very battle-tested. emily: that was the grab president ming maa. coming up, huawei's day in court. the company's cfo knows when her extradition battle will -- against the united states and canada will officially start. we will discuss the latest, next. and tesla is not off to a hot start in 2019. what is to come? this is bloomberg.
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>> this is bloomberg technology global link where we bring you the latest in global tech news. i'm emily chang. but cyclic at the global tech stories of the day. heidi, what are you following? people beng that allowed to take the digital data with them when they leave the company. the agency said affordability would benefit consumers by letting them shop around for the best services and move data. be anoposal would amendment to the country's 2012 privacy law.
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beijing could pass a law to make practices illegal as well as making it easier for foreign firms to enter the domestic market. a move that could come as early as next week. this is according to a report in the "south china morning post." samsung's portable phone is not available in stores until april, but that is not stopping the company from creating more models that full. -- fold. they are developing a clamshell like device and another that folds away from the user. those are your top global tech stories that we are watching. >> thank you. may 8 is when extradition hearings for the huawei cfo will begin. the u.s. alleges she has perpetrated espionage and bank fraud.
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this comes a day after it was reported that the chinese telecom giant intends to sue the u.s. government. the company claims the u.s. is out of line but trying to ban its 5g network and is also -- huawei is also suing the canadian government. let's go to the huawei headquarters in shenzhen, where our correspondent is standing by. the headquarters have these paper cups asking for the return of the cfo. really launching this global offensive on all fronts. tom: that's absolutely right. the precious cups do exist. this is a multipronged counterattack after the pushback from the u.s. it is a pushback or a campaign by huawei on the legal front and we have outlined some of those cases there. but also on the public relations front and that is why they have invited journalists to shenzhen.
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they have opened up some of their labs. they have taken us on tours. , thatransparent company is so they are trying to portray themselves. on the legal side, we have heard looking to sue the u.s. government. we have had that case in canada. sued for what she claims is a violation of her legal rights. is now trying to commit themselves to argument against the u.s. campaign. u.s. trying to push its allies to push back and close-out and ban some of this equipment, saying that huawei poses a significant security risk. emily: how is the whole ordeal being covered in chinese media?
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well, that is interesting. they are clearly watching this very closely. they are watching the machinations of the cfo in canada. i think it is fair to say that there has been an outpouring of support for the cfo. the flip side of that is that you have two canadians jailed in beijing in black jails, or secret jails. they have had no access to lawyers, the lights are on 20 47, and they have had very as well.cess the concerns about those canadian individuals were articulated outside the courtroom in canada just a few hours ago. in terms of what is being written in the press, they have to be very careful about how they portray this, but certainly there is sympathy for the cfo and there is broad public support for huawei as a company, it is fair to say. >> how about u.s. allies?
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the u.s. government has been trying to argue that huawei is a security risk. how is it being perceived by u.s. allies who are being lobbied by u.s. officials? this is a real conundrum, isn't it? particularly for companies like germany, the czech republic, and poland. these companies want to have access to what is cheap and high-performing gear from the company. but they want to maintain the security alliances with the u.s.. we heard from the likes of mike pompeo and vice president mike pence, saying that essentially if you were to incorporate the ,echnology, then maybe the u.s. that it could affect communications between the u.s. and some of those countries. the debate is well underway. countries like the u.k. have their own system set up with gc hq overseeing some of the huawei code and hardware.
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others may look to that as an example. clearly, the u.s. is determined. it is interesting that the date of this extradition aaring is after potentially trigger between the u.s. and china could be struck. does that mean china has less leverage in those negotiations? tom: china has paid close attention to the comments of president trump who has suggested that he may or could intervene in the case if trade talks were going well if it came up as a demand. china is aware of those thoughts from president trump. he went out of his way to ensure that was a softer set of punishments.
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they are aware of that, as well. china may put it on the table as we get closer to a deal. president trump is keen to sign , potentially by the end of march. emily: tom mackenzie in shenzhen. much more ahead right here on bloomberg. stick with us. ♪ ♪
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-- beat,timates beta, but the good times may not last. changes in the relationship with its largest customer apple may
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result in losses in revenue. apple is acquiring certain assets. tesla has not had a hot start in 2019. shares are down 17%, stores are closing across the country, and the sec is ramping up its fight to get elon musk to pump the brakes on its tweet -- his tweets. morgan stanley is saying investor should temper expectations about earnings in china. we are joined by max and we also have craig trudell in the studio. and we have a guest in san francisco who recently did a walk-through of a tesla factory. what is happening in china? there have been some model 3's held up at customs. >> it is hard to say how serious to take this, but this is a labeling issue.
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this all makes me think back to a couple weeks ago when a reporter in san francisco did the story about how tesla was in the midst of this mad rush to get as many cars over to china as it possibly could. they were worried about the idea that the trade war could ratchet back up and tariffs could go back up and the wanted to get as many cars as they could and maybe they skipped some steps along the way or were sloppy. emily: you don't think it is tesla becoming a victim of the trade war? >> i don't think so. that remains to be seen. you mentioned the morgan stanley report. i think it is interesting that everybody has sort of thought, china is the biggest auto market market,biggest ev therefore once tesla gets a cheaper car in that market, they are going to do great. adam jones at morgan stanley says it may not be that simple. emily: it is interesting given the fact that we were just talking about elon musk being
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this diplomatic liaison between the united states and china. couldthat elon musk smooth over trade tensions. >> we mentioned this other side of the coin, which is that he could get caught up in trade tensions and that is what we are seeing. the other part of this is demand for the model three is so up in the air right now. with tesla closing stores, people raising questions about how many people are really going to buy these cars. then you throw the china thing into the mix and it is really not great for tesla. ivan, are you as concerned as morgan stanley is? >> not so much about the demand for the car. demand is still going to be strong. it is an incredible automobile. when you look at how far tesla has come to build an automobile company from scratch takes a lot of work and he built the manufacturing facility. they put out an incredible car.
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the car is incredible. the brand equity is incredible. i think there is still a lot of demand. i'm sorry i missed you when you are visiting the tesla factory. what did you see that was significant in the context of elon musk closing the stores to go to online only? >> i think the choice to close the stores is to reduce cost to be able to deliver. , you go to aion toyota dealership to pick it up. car.rder the precedent.ithout the only thing that may miss out is if you draw the model 3, it is an impressive car. you can't even get to know how
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impressive the car is. the electric car drives a little different than a traditional gas car because when you throttle back on the accelerator, it slows the car down, you don't really have to use the brakes as much as in a traditional car, so it is a little different and it is a lot of fun. put into context for us, you don't know how the car drives if you can't test drive it. >> that is the important thing. they are going to be closing most of the stores. it is really hard to listen to elon musk talk about closing all these stores to cut cost while at the same time putting theysis on this idea that are going to improve their service, which has been showing signs of strain. they have been delivering more cars, to their credit. it is harder to get an appointment. the sort of infrastructure to handle repair work is being taxed because this company has
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more cars out there. this full idea of really doing it 180 on the retail strategy, what is freaking everybody out here. emily: there was an investor earlier on that said elon musk needs to step away from the public discourse, the tweets. it is not only that is so polarizing -- there are people who love him and people who don't love him. there are people who love tesla and don't love tesla. why is there no common ground? >> i think it gets to some of what makes elon musk a really good marketer is that he is very good at creating that polarization and painting a picture of the future that is so fantastic that it excites people. in doing so, you kind of turned people off. it is hard to imagine elon musk stepping fully away, even fully away from twitter because he has been so effective at selling the car and selling his vision and
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without his twitter feed, what do you have? you don't have commercials, stores. the one thing is, people drive this car and they like it and you could imagine a word-of-mouth thing. it is hard to see how you are able to sustain the kind of growth they want to see without spending significantly or without a lot of crazy tweets. tweets outs take the of the equation. do you see a lot of crazy demand? >> yes, i think the demand for the car is there. it is a quality car. it is a good value. them. really like tesla has a tremendous first move advantage in the ev space. emily: craig, would you agree? >> i think the idea that tesla has not done any traditional advertising and has been able to
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do the volume they have is impressive. the real test for the company is predominantly the sales in this country have been in california, it has been in a backyard, where they do have the greatest presence from a retailer perspective. they have a lot of stores and people were already inclined to buy these greener vehicles. we saw the previous catch on a decade ago in california and it was really a phenomenon. and not necessarily in the rest of the country. it remains to be seen whether this initial demand, whether they can carry that over through the rest of the country once they get past these sort of first movers or initial people who are excited about elon musk in the company. emily: do you think the model y will impact demand for the model 3? will it cannibalize demand for other tesla cars? >> you hope not if you are sitting in elon musk's shoes.
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he is very good at getting people excited about the new products. you can imagine a situation where people are about to pull the trigger on the model 3. they see this amazing launch of the model y and they say, hang on, wait. i would not be surprised if the model y launch tries to keep expectations tamped down compared to previous tesla launches. emily: good to see when per -- you in person. thank you all. all right. still ahead, oscar-winner brie larson taking heat and online trolls take her down over her "captain marvel" role. disney was prepared. ♪
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amazon is ending its experiment with electronics focused pop-up stores. the plan to shut 87 kiosks
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across the u.s. they're expected to be completed by the end of april. online trolls have turned their iron on the upcoming " captain marvel" film and its female star, brie larson. disney was ready for them. one line of attack was that she was not strong enough to play one of the most powerful characters, the studio and the actress posted workouts on instagram. ise to talk about much more a software engineer running for u.s. congress in massachusetts in 2020, and you are not just any software engineer, you are a famous software engineer, and you yourself have been on the receiving end of online trolls in gamer gate. this?o you think about i'm sure this does not surprise
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you. >> it is such a familiar story at this point. we were here with "ghostbusters." it seems that anytime a woman steps forward to put her toe in the water for a male-dominated field, we are right back here. it is so frustrating. twitter has made a lot of changes to fight online harassment, but does it go to show that they are not doing enough? >> you know what i'm thinking, your four-story was about facebook moving toward privacy. i feel like part of the backlash targetedjust being online, it makes sense that people would want to move toward more private social profiles. i think it is hand-in-hand and it is exhausting for all of us dealing with it. emily: you think that privacy is a gendered issue? >> absolutely a do. it affects men, for sure. emily: so, do you think that --ause -- they are trying to we will see what mark zuckerberg's more private
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facebook looks like. does this mean we need legislation? >> i think there is certainly a role in washington for us to address what women face in the tech industry and what users face on the other side. is reallywe have seen big promises from facebook, twitter, reddit, all these companies, that they are going to address the situation. looking at this in 2019, it is very hard for me to point to one thing that has concretely changed for women in the tech industry. i do think washington has a role to play. emily: what does that regulation look like? this is something you campaigned on. >> absolutely. i think it starts with letting companies know that washington is going to take it seriously. they held hearings about violence in the 1990's. serious aboutget this, they are going to regulate
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our field. our industry self regulated. happen is ifwill you have people in washington sitting on the science, space, and technology subcommittee, that that threat of real legislation coming down the pike will cause the companies to do the right thing. you are last on when my book came out in hardcover and it is now out in paperback and you are an important character. how much progress has there been for women in technology? >> when i stood up to gamer gate, i really believed it was going to be a moment in 2014 and 2015 that really changed the tech industry. i wish i could tell you that happened. very little fundamentally changed in this field. we are seeing women software engineers not be treated fairly. this is not because women cannot
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compete in these fields. it is because we are not getting a fair shake. you weaved these issues into your 2018 campaign. you are back in the settle running again. how was technology going to play in your 2020 campaign? >> the big thing i learned in my 2018 race, and by the way i got 17,000 votes over that, was that you cannot run a political campaign like a startup. i come from the startup world. my very first startup was at 19 for $250,000 and i thought that formula would work. this time around, we are being more traditional. we are running a more traditional campaign. what will be your tech platform? >> it is almost amorphous. people in tech want someone in
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washington who understands their issues. whether it is about cybersecurity, harassment, trying to launch ipos. think they are looking for technological literacy. it is going to be a year and a half of fighting. a half of fighting. a lot can happen in that time. is the single most important issue to you? >> the biggest issue for me is what people in my district are facing, particularly with wealth inequality and not being able to make a living wage. we are talking kitchen table issues. inequality, income being able to send your kids to college. wu, softwarea developer, candidate for congress in 2020. think you for being here. that does it for this edition of
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"bloomberg technology." we are live streaming on twitter. check us out there. i will be back in san francisco tomorrow. it has been fun in new york. thank you for watching. this is bloomberg. ♪ you.
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>> the following is a paid program. the following is a paid presentation for the ninja foodie featuring an all-star cast of celebrity chefs. all brought to you by shark ninja. experiencee about to has never been done before. we must warn you

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