encryption back front and center. we will examine the responsibility eliminating terror from social media. announce the first round of capital commitments for a tech investment fund. coffers,billion in the division fund is asked to top 100 alien dollars in six months time and will focus on startups in the united states. of our managing editor joined us from tokyo with all the details. long time.ake a they announced this deal in october last year. it came from the meeting with the deputy crown prince of saudi arabia. after many months of waiting that it would close, it did they did not get the full $100 billion, but they got to a record for a tech fund. the core investors are softbank and the saudi arabian sovereign wealth fund. there are some others. one name that did not show up in the press release was larry ellison of oracle. tos not clear if he is going come in at a later round or not participate. talk about the vision for the fund as we know it now. peter: he is never been shy about his ambitions here it he talks about a 300 year plan for the company and wants to last well beyond his own investments. he has cut big deals. the ride billion into hailing company in china. has more capital to be able to deploy. he is talked about the opportunities he sees. he had some successes in the past, including alibaba and yahoo!. he thinks there are better opportunities and he wants to be able to use this capital to go after them and artificial intelligence and the internet of technology andng the sharing economy investments he is made so far. talk to us about where the money is going to be invested next. what else? he is going to be the key person on the investment committee. it will be an extension of softbank. they will focus on some of these areas. one of the big surprises last year was the acquisition of the chip design company. gateway intoas a the internet of things where they will be able to collaborate in different areas of technology. right hailing has been a big focus. there are a number of these areas at he is one to pull surprises. there will be at least one or two surprises on the horizon. in moree brought reaction to the softbank news at a larger perception on tech investment. he is the founder and ceo. apple,executive posted microsoft, and google. we usually manage funds in the hundreds of millions of dollars. we began investing in ai four years ago. believers that the future of technology is great and the age of ai is coming. we are looking forward to softbank being a later stage investor in some the companies we and other venture capitalists a built-up. emily: a lot of this is supposedly going towards ai. good this be too much? are there enough opportunities out there to warrant $100 billion? >> there can be. deals like that have already invested in dd. they are raising $10 billion. if you think about finding another 20 companies like that, the money will be used up before you know it. emily: where the most competitive ai investments? >> they are still in the u.s. and canada. john is coming up strong because of the large market and the large base of ai knowledgeable people. top applications are written by chinese authors. china's large market will create a lot of data and ai is driven by data. china is coming on strong. i would currently say number two. there is a good shot at becoming one of the two superpowers and ai. emily: you gave a finance -- fascinating commencement address at club it. all financial companies will be turned upside down with ai replacing bankers and accounts. returned 8% more than my private banker. >> i hope he is not watching. emily: he is shaking in his boots. you go on to say you think simple jobs will get replaced -- whoe complex jobs still has a job in this brave new world? >> a think the creators will have a job. the creators and technology science and art entertainment. that's a significant portion. people who are in the service industries, who deal with social aspects of service, that will be a set of jobs we have to create. unlike the industrial revolution where a set of jobs are gone and another came about to the assembly line, we have to deliberately create these jobs. they relate to social aspects. ai is no good at dealing with people. emily: the uc hordes of unemployed people? will they get new jobs that have yet to be created? there has to be a way to redistribute the wealth created to ensure some kind of social welfare and minimum stipend for the people who are displaced. it's going to take time for someone on retraining. i think if people are open and inclined to being trained in the social aspect of the job, say bartender, tour guide, concierge, jobs like that, that will be on the rise for people to people interaction. founder andwas the ceo. hasoomberg scoop, softbank a $4 billion stake, make it the fourth largest investor in the chipmaker. tripled last year and is up nearly 30% this year, giving the company a market value of more than $80 billion. the world's leading maker of jones is betting on a new unit. this week, they unveiled the smallest camera thrown yet. bloomberg attended the event. you can take the new drone for a spin. >> i am here in new york city at grand central terminal for the unveiling of its smallest and lightest drone yet. i have it right here in my hand. it weighs less than a can of soda and it's only $499. they hope to step into a new ballgame helping reach the masses with a very easy-to-use drone. it takes often flies directly from your hand. i am here with the head of strategic partnerships. i am holding it. it was launched last fall and the newest one. this tiny little thing has a ton of technology, the same features in the larger drone. how did you get so small? it isrtime, our first run about -- product was about this big. over time, we have been able to bring it smaller and smaller and make it more energy-efficient and add new features like sensing obstacles and avoiding them in real-time. we have done a lot of work to provide a powerful product anyone can use. >> is this going to expand the market? >> when looking at the overall market for dgi, we see a few barriers. the first is price. at $499 we have a lot of technology. can i use it? everybody can move their hand around. you can use the system. how often am i going to use it? we made this as easy as possible to get up in the air and tell great stories. >> we are standing here at grand central terminal in york for reason. what does the u.s. market mean for you? how important is it moving forward? >> it's our largest market in the world. what we see here is a lot of interest in drone technology. 46% of the customers we polled were interested in drones this year. we feel like this system overcomes a lot of barriers that allows us to get into the market. >> let's talk about competition. the chinese have flooded the market with cheaper drones. where'd you think this is going to be? >> we want this drone to be people's first experience with a drone. when you look at online reviews and try out the technology, consumers might be interested or they drop out because it's too hard to use. we put a lot of intelligent into the system so it could be simple. anyone can get it up in the air and have a good flight. by having better technology, consumers have a lot more confidence and they are more willing to give a shot. >> can you show me how it works? >> let's do it. now it's just hovering. >> amazing. how do i bring it back? >> raise your arm and go like this. bring your hand to your chest. now walk to it. just like that. there you go. >> dgi is operating in a competitive space. the drone market is still very small. it is expected to grow to $11 billion by 2020. with this tiny lightweight drone, they think the masses will take a personal drone forever they go. time will tell if they are going to be able to reach the masses in the way they hope it will. emily: that was selina wang. is raising concerns about snapchat's parent company. if you like bloomberg news, check us out of the radio. you can listen on the radio app or on sirius xm. this is rumored. ♪ -- this is bloomberg. ♪ emily: let's begin to carson block freezer john snap. he has areas of concern. including governance issues, ethics, the strength of the business model. erik schatzker asked him about his research. carson: we've done a decent amount of work on snap. we are not short snap at present. we might be in the future. we have three categories of concerns. we should remind everybody this is the owner of snapchat. we have a corporate governance concerns. there are questions about the ethics of the company and that something that is not well-known. also, this is the area where we are really trying to form a view, questions about the business model and strategy. coupled with the fact that effectively has a lot of debt in the form of commitments to amazon web services and google for cloud hosting. of theou say some corporate governance concerns are well-known. they might be known to many people, but not all people. stockeople may own the may not know about the fact that there are no voting rights in shares. that's the first company i've seen the has no voting rights in its shares. carson: that's not the chief concern. that's definitely a concern. , he strikes spiegel me as one of the founders who you don't necessarily want around to run a mature company. erik: why? carson: this gets to the ethics concerns we have. other well-known corporate governance concerns, he got an $800 million stock bonus on the ipo, few to no strings attached to it. now andeave the company he will still receive that stock. that is replacing the almost $300 million he has sold on the ipo. erik: that's a red flag? carson: he normally don't want to see that conflict of interest or outright money grab. that, the actual ethics concerns, there is a whistleblower lawsuit filed by a former employee who was hired to lead their growth team. late 2015.d in he was only with the company for three weeks before he was fired. in his lawsuit, he is alleging that at the time they were telling investors and advertisers they hit 100 million daily users, it was really about 80 million. at the time, they were telling everybody they were growing up double digit month on month in terms of daily active users, he said it was really quarterly low to mid single digits, which is what we see now. erik: let's say he's right and you are right to give him some credibility. who is to say that evan spiegel isn't going to grow out of the stuff, grow up if you will, and like thening snap public company? carson: one thing i do want to tohasize, we have diligence the whistleblower here. we have had one of our investigators do a lot of diligence. everything that has come back indicates that he is a very standup guy, very serious, very honest. erik: he checks out. that heit's probable thinks what he is saying is correct. in terms of that question can a zebra change its stripes? let's say he was problematic before, can he straighten out? he has just been massively unethicalor this problematic behavior. people who are positively rewarded or positively sanctioned for that, i don't see them all of a sudden having this moment where they say that was great back then it, now is the time for me to really tell the line -- told the line. people like that usually have to have something bad happen to them before they correct their behavior. stock price drop is bad. let's get to the business model and strategy issues. it sounds is though they might be more important than the ethics and corporate governance issues. we don't do a, lot of forward-looking analysis. this was the piece we really wanted to work on more. for people -- erik: everything snapchat does, replicate.eems to carson: the younger generation thinks of facebook as something they are not interested in. they are not going to go to facebook. the counterpoint to that which i think is a very salient counterpoint, snap is great when you are a teenager and you have your clicks and you are trying to hide things from your parents. as you start thinking about applying for jobs, that's when you want to embrace the wider world and snap with its tighter social network as opposed to the whole world like facebook is the liberally not well-suited for that. the counterpoint to the thesis is today's teenagers will become tomorrow's prime -- they will use facebook as their primary network going forward. it's not a real generational difference. emily: that was erik schatzker and carson block. coming up, the u.k. is on the highest level of alert after a terror attack in manchester this looming a conflict is between tech giants and authorities who want access to encrypted data. we will discuss. this is bloomberg. ♪ emily: the u.s. government dave an update on its laptop ban on flights. homeland security has decided not to widen the ban of laptops and other electronics used in airport cabins. hasn't made a decision about electronics on incoming flights from europe. u.s. airline travelers will face more scrutiny of electronics larger than mobile phones. sendngers will be asked to large electronics through x-ray screenings separately from their carry-on bags. this may beays extended nationwide. there is continued fallout from the worst terror attack in the u.k. and more than a decade. the terror threat level has been raised to critical, its highest level. there is a demand for access to encrypted messages as part of the investigation, urging social media companies to go after terror posts on their sites. caroline hyde spoke with jeremy khan about that. jeremy: they would like all of the social media companies to do a much better job of trying to police content on their sites, taking down posts from terrorists or terrorist sympathizers or those with extremist views. they want to close down those accounts and delete the content and remove users who repost jihadi content or content that would be praising these attacks. the home secretary come out and companies tod like and the encryption's. this is messaging services like whatsapp that are encrypted across communication chains so the government can't access them. she would like them to be responsive in particular requests when they want access to this information the government given access. she is basically asking them to come up with a way where they can meet these are wes. caroline: it feels like deja vu. apple took on the u.s. government. what argument are we likely to hear from those who have the end to end encryption's? what are we going to hear in response? jeremy: they don't have access to the information. in order to meet this request, they would have to build a backdoor. that's what we sought tim cook say. the fbi was asking for a backdoor. it's just not government that can use this, it could fall into the hands of someone else and you can end up with hackers having access to this. we had a huge rant somewhere attack. we will see some social media companies say if we do this, you are opening up a can of forms that allows a criminal element to use this potentially. : has there been much of response and the technology companies? takehave tried to terrorist activity and the misuse of their media outlets. have they responded? jeremy: they haven't yet. we will see in the next few days as they come out with statements. i think they may. it depends how much she repeats this. if this becomes a talking point for her or for the government, you will see a response with tech companies. emily: still ahead, the impact tech is having on the labor force. we will catch up with anne-marie slaughter next. there is a surprise shakeup, what the new ceo jim hackett brings the table. this is bloomberg. ♪ i've spent my life planting a size-six, non-slip shoe into that door. on this side, i want my customers to relax and enjoy themselves. but these days it's phones before forks. they want wifi out here. but behind that door, i need a private connection for my business. wifi pro from comcast business. public wifi for your customers. private wifi for your business. strong and secure. good for a door. and a network. comcast business. built for security. built for business. emily: welcome back to "the best of bloomberg technology," i'm emily chang. the digital revolution is transforming the world of work, with the latest technological advances placing some jobs on the chopping block. with that in mind, the think tank new america released the futurethat outlines four workplace scenarios that could play out in the next 10 to 20 years. we caught up with the president and ceo of new america and former director of policy planning under then secretary of state hillary clinton. i started out by asking about workforce trends she expects to continue. >> i think we know some things are given. we know there will be some amount of automation, we just don't know how much. we also know that there is a shift going on from jobs to economy,ke in the gig we just don't know how much. our scenarios run through different combinations of jobs, more or fewer jobs, and whether that will be more jobs are more tasks. emily: what did you learn about with the technology industry doesn't understand about government, and vice versa? >> [laughter] yes, this was very much a washington needs california project, where i think the tech industry is often, let's ask forgiveness rather than permission. look,gton is much more, you have to think about the public interest as a whole. one of the most interesting interactions, for instance, was between union leaders and faith leaders and tech startup entrepreneurs, where the entrepreneurs were talking about this great technology, and others in the room were asking, yes, but what happens to the workers whose jobs will be lost? even if there are more jobs created overall, it won't be more for them. emily: you work for secretary clinton at the state department, and many have said you would have a key post in the administration, had she won. the kind of impact do you think president trump will have on the future of jobs, for better or for worse? >> i don't think president trump, in self himself, or had e been a president clinton, would have been able to control the forces of work. those are market forces, human forces. what i think is critical is government thinking about things like portable benefits and really good health care, because only if we have the ability to move your retirement and your health care wherever you go, rather than tying it to your job, will we be able to take advantage of the technology and the economy that's coming. emily: are facebook and google too powerful when it comes to political affairs? do you see them abusing their power down the line? >> i think one of the things we think about when we look at the future of work are what the economy looks like now is not likely to stay the same for the coming decades. if you go back to the late 19th century and you look at the power of railroads and big oil companies, big steel companies, sooner or later the citizens and smaller businesses demanded more of a share of the market. i think even though google and facebook and amazon and other big tech companies offer extraordinary benefits, the public as a whole is going to want to find more ways to share in those benefits. emily: as a longtime foreign-policy expert, i am curious for your thoughts on facebook and twitter and their responsibility when it comes to fake news, and especially your thoughts on russia potentially meddling in u.s. affairs via cyberspace. >> well, the russian meddling in the u.s. election was an act of aggression, right? putin seeks to destabilize our democracy, and we can now see that he has done that in a whole lot of different ways, through meddling with the presidential campaign, through hacking, through putting out fake news. one of the challenges for facebook and twitter, and for all of us, is that when the public square is privately owned, then of course there has to be some sharing of responsibility. emily: your article, "why women still can't have it all," will probably live on forever in the cultural zeitgeist. i'm curious if the conversation since and the rise of the lien in movement has forced you to reconsider anything you wrote there. >> i think i have not reconsidered -- my original claim was that work has to change as much as people have to change. i think sheryl sandberg agrees with that, and i don't think there was nearly as much of a gap as people imagined. but what i do believe, very strongly now,, and that i wrote in my book "unfinished business," is we have to think of this not as a women's issue, but i care issue. this is for all people who care for children, for parents, for spouses, for siblings. our society makes it very hard to combine earning an income and caring for others, and if we want to exploit the talent of our society, if we want to harness the growth and potential of our citizens, we have to acknowledgment most workers also now have caregiving responsibilities, not just women, and they grew for those responsibilities and support them. emily: that was anne-marie slaughter of the new america foundation. the commission on workers and technology report was done in partnership with bloomberg television's parent company, bloomberg lp. coming up, a major ceo shakeup at ford. what a means for the company's self driving car initiative, next. this is bloomberg. ♪ tech: it was this day in 15 years ago that netflix made its public debut. back then, it was a dvd rental service. since then the stock has had a strong run, but not without stumbles. netflix stock lost nearly 80% in 2011 after it raised the subscription fees and attempted to split up dvd and streaming services. still, the company is a massive growth story. it rose 40% every year on average since its ipo. a surprise shakeup at ford. mark steel is out after less ceo.three years as shares of the number two automaker in the u.s. fell 37% during his time in office. the new chief executive, jim hackett, who is leading the initiative with self driving cars. ford executive chairman bill ford spoke to bloomberg tv. >> i have never seen such a time in our industry where technology and competitors and everything that is converging to drive real change. it is very helpful in a time like that to have a leader who is very very in driving transformational change, and fortunately we have that in jim hackett. emily: we caught up with bloomberg's david welch for more. >> what really hurt was the stock prices went down so much. their earnings have been down, they have been pulling in their forecasts, while general motors has been raising. peaking, butet is you aren't seeing the big company stocks down quite as much, and the board felt a lot of pressure. when you look at the self driving car side, that didn't have a clear direction. in the case of gm and others, you have business units they have acquired, they are testing cars in san francisco, they have a piece of lyft and are experimenting with putting those in the fleet. they have some clear things they want to do, they have their own business maven. for ford it is not as clearly laid out, and they wanted some direction. emily: are we expecting job cuts at ford? >> they already announced they would cut 10% of the salaried staff globally. i don't know that they will be cutting more cost -- they have gone up in the past years, so you could see more. the executive team can look at costs. you could expect there will be more executive changes and more cutbacks as well. emily: one of the big questions is whether lord can catch up to the more forward-looking automakers like tesla. battery making giga factories are about to arrive in europe, a term coined by elon musk, and now daimler wanted peace of the high. caroline hyde joins us from london. caroline, what do we know about the european gigafactories? caroline: they are all pushing in the same direction. this is why mercedes-benz and on aach broke ground new client, on july merkel w -- angela merkel was there. both of these juggernauts of industry groups are looking to capitalize, mainly on the falling cost of energy storage. this all becomes a bit of a virtuous circle as carmakers such as daimler, as volkswagen, want to get into the greener energy cars. meanwhile, the likes of utility makers in italy, finland, suite sweden, are looking to store renewable energies better. all of them are pushing in the same direction. they are going to produce more batteries, thereby pushing down the cost and making the whole economy even better and better and more virtuous. this is why we are seeing the likes of daimler get in, why the new energy finance researchers have said, look, battery costs could fall 43% in the next four years. this makes electric vehicles perhaps cheaper than normal vehicles as soon as 2023. emily: david, i was thinking that giga factories will pop up for more automakers? >> you are seeing forecast of lithium-ion battery production tripling by 2021, and there are a lot of cars coming out, particularly from german automakers. you look at the one just announced today, daimler. if i am daimler, i sell commercial trucks and luxury cars. i am making electric luxury cars and planning on commercial trucks. they are going to put new vehicles out. bmw, audi, porsche. every automaker has to do it for regulation, but a lot of them are seeing tesla has some cool cars, and toward the end of the decade we will see a lot of electric cars coming to market. emily: caroline, will daimler be able to catch up to tesla? is that the question? caroline: that is the key question. they have a lot of models coming out, and they have their own politicians. merkel out of germany said, look, by 2030, we want to see 6 million electric vehicles on the road. they have to police their own government. they want targets of their own. it looks as though we could see about 1/5 of all new cars full by 2030. the way you take it on is by making the battery more economical, so if we see the cost/by 40%, that's the main cost of the car you are producing. twoy: amazon just opened grocery pick up kiosks, its latest effort to into the grocery market and compete with click and collect shopping options. the amazon fresh pickup spots let shoppers buy groceries online and pick them up in that little as 15 minutes rather than having them delivered. it's a feature that is available if you are an amazon prime member. grocery sales have been slow to ,hift online, unlike books and electronics leaving advantage to the competitors. and amazon continues to open brick-and-mortar bookstores around the country, the most recent on the west side of manhattan. shira ovide took a trip to check out the newest bookstore on the block. >> ♪ >> amazon helped kill bookstore chains. now it is trying to become one. since 2015 has been opening a handful of physical bookstores in places like seattle, san diego, and chicago. it just opened tis seven location in an upscale mall in new york city. >> people aren't moving away from buying physical books. we sell a lot of physical books, and we wanted to give them a new way to discover books. the desire to find a book you love is a desire that is very common, and we felt like we could make it easier, make it more delightful for customers in the physical space. >> all the books in the store are bestsellers, four stars or above by online book buyers. there are sections for books that large numbers of people have added to wish lists, and there are no prices listed on the book titles. you can open the amazon app on your phone and skin the book cover to get a price or take the book to a scanning station inside the store. that amazon is also using its bookstores to get people to bring more amazon into their homes. there's a big section for people to test drive the company's gadgets, like the kindle fire tv box that streams web videos to your tv. there are also the readers, their line of voice activated home speakers, and other home electronics. >> customers have asked for it. they want to try it out. they want to see what a smart home looks like, what can i do to make my home smarter? how does the amazon music interact with the echo? what kinds of things can i ask alexa? they want to see it, they want to talk to the experts about it. wse have brought that into the store. >> it is still not exactly clear why amazon is bothering with physical stores at all. its website is already the biggest bookseller in the world, and the popularity of shopping for books and much more on amazon.com has crushed bookstore chains like barnes & noble and borders, which went out of business. amazon doesn't disclose sales at its handful of stores, but it is probably a tiny fraction of the company's $140 billion in annual revenue. one final note of irony -- before borders went belly up, that had a bookstore in the very same long that is now home -- the very same all that is now home to amazon. emily: coming up, this week spelled more trouble for cooper, here in the u.s. and abroad. we will bring you the latest be bums and hear from roger metheny on the matter. plus, how that has president trump been media companies? we will pose that question to mark compton, next. this is bloomberg. ♪ emily: uber is in the hot seat again, admitting to shortchanging new york city drivers millions of dollars by improperly calculating the company's shares of passenger fares. turns out they were taking their cut based on the pretax sum, instead of after taxes and fees. uber will pay drivers back $900 each, which will cost them tens of millions of dollars. abroad.o facing trouble israel is indicting them for allegedly offering illegal rides. the company picked up passengers for a fee without a government license. undercover agents have been posing as passengers for several months. the ridesharing service is illegal in israel, where drivers are banned from charging rides and private cars. instead they have been using uber night ride in tel aviv, offering reimbursement for expenses like gas. they washed in israel in 2014, attempting to lower users away from their local rival. we talked about the ongoing battle with wamo with eric newcomer and famed investor roger metheny. he is a noted investor in facebook can't call find it a private equity -- and cofounded a private equity. he brought us up to speed on the latest headlines. saying you have to testify at our civil suit, even though you are pleading the fifth, or we will fire you. that's not that big of a surprise. they have to show they wanted to testify. emily: this is a huge court battle over self driving cars, and you think this is a big deal. deal.hink it's a huge and the reason i think it is huge deal is that self driving cars are further out than the conventional wisdom, and will not come soon enough to save uber. they are better off taking the money they would invest in it and taking from some other car. just as in china, where the great move was to get 10% of didi, and then exit the market, i think exiting self driving cars will be a profoundly positive thing, if and when they choose -- emily: they arty have self driving cars on the road. >> yes. so what? the path to self driving cars that can actually be the core of the fleet is still maybe a decade or 15 years away. i don't know how long it is going to take, the we have to change the way roads work, the way cities work, and none of that -- cases. all these edge how will they get to know drivers? will they change the economics of the business? i agree that the distance is out. i say the defense is that they need this story of someday there will be self driving. there is growth there. they definitely think they need to make the human driver profitable, but the idea is that self driving gives them the story that, at some point we will have this of business that's even better, keep investing. >> it also causes the risk of bankruptcy to go from nonexistent to very material. again, i have no crystal ball, but i going, i think they are not. i think at the beginning they should have bought cars. they should not have suspected car that was the same. if you think about southwest airline, every plane is the same. issue have done this like a server, bid 50% under the cost in the consumer market, put them on the streets with keyless entry, and own the car, only insurance. that would have been my recommendation and they chose not to do that. i don't think self driving is the answer, and i agree, it is going to be hard when the accent, but it is better. emily: "the new york times" has been making news with its own scoops and as a target of president trump.david gura caught up with mark thompson of the jpmorgan tech, media, and telecom conference in boston, where they talked about the partnership with social media platforms and the changing landscape of the news. the polish of a multifaceted platform with google and snapchat and so one. we are all experimenting with them. what is the best way of giving journalism to people? i think the major platforms are asking them knows searching questions and truth and falsehood and about their responsibility when it comes to journalism, and we are very happy to work with them. at the same time, because we want a deep relationship with our readers, the best place for enjoying "the new york times" is our own digital destinations, as it always has been. david: let me ask you about the rivalry between you and "the washington post." you guys are having fun with each other, breaking things back and forth. is what you are doing replicated will and other newspapers? what you think about "the washington post?" >> i think "the washington post" -- that story is the story they have to get right, national coverage, great coverage of the art. on that story, that's their home ground. we are very happy to take part in the dual every day. i say it's an exciting time to be a journalist, it's important to be in journalism right now, and part of what's great is seeing outstanding journalists compete with each other, not in a underhanded or cynical white, but to get great stories. i think that's what's making this such a wonderful. -- such a wonderful period for journalist. emily: baskin ceo testify before congress, making the case for integrating robotics with on zoning deliveries. -- with on demand deliveries. they tested out self driving robots, but the emergence of automation has also sparked regulatory concerns about safety and fears around displacement of human workers. i started by asking lehman about this fear, and how he imagines robots integrating. >> i think we will have what we believe is a sidewalk class robot that will do a lot of the ultrashort range deliveries. highly dense metropolitan areas is where we believe we can deploy our sidewalk class robots in the most efficient way. these are often deliveries that are probably not suited for human labor. they are relatively short, the return as monetary value for the workforce is not as great, and this is where we think we can have the biggest impact. emily: what do you have to say to the elon musks or stephen hawkings of the world who have concerns that robots will eventually supersede humans, or perhaps even become us? >> i think it's all a question of timeline. i think elon is right in his remarks, that we have to be careful, specifically when it comes to ai. i believe the things that he they are great ways to get the knowledge out there to a broader base of people, and not just have too intelligent, isolated ai operating somewhere. when it comes to robots, i think they already augment our life. automation happened a while ago. while there are some areas where we still have to ask or the impact, there are others where automation can't come fast enough. there are jobs that are simply not safe enough or secure enough for humans to perform this task, and that is something positive we should focus on. emily: and that does it for this edition of "the best of bloomberg technology. we" will bring you the latest in tech throughout the week. remember,ery day, and all episodes are live streaming on twitter. check us out weekdays. that's all for now. this is bloomberg. ♪ >> welcome to "bloomberg businessweek," i'm carol massar. >> and i'm oliver renick. we are coming to you from inside the headquarters in new york. >> a scandal of large proportion. >> and the strange business of rare diseases where every patient is a gold mine. >> facebook's anti-fake gold mine. all that ahead on bloomberg businessweek. ♪ >> we are here with bloomberg businessweek editor-in-chief megan murphy. let's start with the opening remarks. you do a great job summarizing a complex edition but it keeps on going deeper and that's the political corruption that exists

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