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Transcripts For BLOOMBERG Best Of Bloomberg Technology 20171
Transcripts For BLOOMBERG Best Of Bloomberg Technology 20171
BLOOMBERG Best Of Bloomberg Technology October 1, 2017
First, to our lead. Apple is already facing production delays for the topoftheline iphone x. The delays come to two problems with the 3d sensor manufacturing process. Reports say makers of the components used facial recognition are struggling to reach adequate production levels. Bloombergs alex webb gave us the details. Alex what we know from the report yesterday, there were problems with the three sensors. That is causing delays. The wall street journal cued off that. They dug into it more. The sensor which projects the infrared interface which maps your face for the apple 3d facial recognition system that apple has. We dont know the extent to which how many phones are on the shelves. Emily to what extent do we know how all of these things are going to impact supply . Alex going back to the start of september when apple unveiled the phones. The iphone 8 and the iphone x, as far as i know, they staggered the releases. The iphone 8 is already on shelves, and you can go out and buy one right now. There is a sixweek window until the iphone x, because we knew there were some problems with the oled screen. Apple said those delays were taken into account when they made their projections. The current quarter, the one that ends on the 30th. We dont know to what extent the 3d sensor delays were taken into account when they said the release date would be november 3. If it was, investors dont have anything to worry about on this front at least. If they did, they might be in short supply come that day, and they will not able to meet demand. That might be a cause for concern. Emily could this be or give us some answer as to why the release was staggered with the iphone 8 last week and the iphone x is not out until november . Alex it could be one of the factors. There are only a handful making these oled, organic lightemitting diode displays, which give the sharper display for the iphone x. There had been some problems getting the 3d
Sensor Systems
working. We were not aware of the extent of the issue. We are looking to see what the case is. The problem seems to be in the module makers. You have all of these different components that are pieced together to make the three sensor package itself. The
Sticking Point
seems to be there. The delivery of those components, they are doing ok. Its the module assembly, those, and south korea, and the japanese company, which is owned by foxconn, those seem to be the basis of the issue. Emily tim cook was the supply chain genius. He probably knows more than anyone at apple. At this point, theyve been working on the phone for months, if not years. Why wouldnt they be able to stockpile some of these components . Alex it speaks to the fact that people have been worrying for a while about the extent to which they are able to deliver blockbuster advances in smartphones anymore. Apple is really trying to push the envelope and get the technology available. The iphone is the bestselling smart phone in the world. Samsung sells more but there are a bunch of different models. Because it is the bestselling in the world, and they are trying to do this cuttingedge technology, a lot of these companies are not yet at the stage where they can deliver all of the components necessary. On some of the
Conference Calls
over the past couple of months, they have had a big
Capital Expenditure
as they tried to ramp up production and meet apples demand. Clearly, that has not been a success as anticipated. Emily all of this is coming at the same time that the iphone 8 is out, and people are complaining about features not working. What do you make of that . How could that impact sales . Alex there is always a little bit of that. The launch of any product, there are teething problems. Usually, most of it is solvable with a software patch. We had the watch last week that had some connectivity issues. There have been some problems of crackling audio. I literally got my iphone 8, so we will have to see if that is the case. Apple has said they will be able to remedy it with a software fix. I would not worry much about those things as an investor, at any rate, it is the supply rate which is a much greater concern. Emily amazon has found its hardware calling with the amazon echo. The tech giant held an event in seattle to unveil a number of new products including alexa accessories. The product revamp shows the tech giant will not back down to the likes of apple or google. Bloomberg techs mark gurman attended the event and joins us from seattle. Mark this is amazon stepping up to the plate and heralding itself as a major
Consumer Technology
player. It is no longer just apple and google. Amazon is saying they are here now and they stepped up their smart home game. They have several new echo speakers are in. Emily mark, you review these products, how does this stack up to google home and what apple is planning to unveil in december . Mark google has their home speaker. Its the center of their smart home world. Apple has their home pod speaker coming out in december. That will become the center hub of their smart home world. Around those products, have other devices, apple has the apple tv and the iphone. Google has the pixel phone and their tv products and other operating system, android. What amazon is saying is we are going to make the smart home our category. We are going to take over every part of the home. Not only do they have a smaller, midtier speaker, but they have a new and a speaker that allows you to connect to appliances in the network. They have a new fire tv product and a new echo spot. That really stole the show. It is 130, halfcircle device. It will have a 2. 5inch screen. It is like an apple watch screen. You can get video calls from it and watch video and listen to music. Read lyrics, get contacts, learn about your day, your calendar, your weather. Amazon is coming out with smart home devices and speakers for all parts of your life. You alluded to the bmw partnership. Amazon is trying to stick alexa wherever you are. Emily do you think we will see more partnerships in the future . With other carmakers, for example . Mark this is the third one. They announced partnerships with volkswagen and ford at the beginning of the year. We have not seen many new models with the alexa functions as of yet. Bmw was on stage at the event today. At the
Seattle Office
you see behind me. They talked about how some of the new cars will come out in the middle of the year with alexa. It is interesting will someone buy a new car just because it has alexa support in it . I dont think its going to drive sales or new purchase intent for consumers on the car side. But it certainly is a big win for amazon, being able to get somebody in their home driving home, they can just say, alexa, whatever, and they can buy it through their car. Its a big win for amazon. Emily in using amazon alexa, it certainly has the cool factor. But alexa still gets confused sometimes. It seems the
Voice Recognition
has a long way to go. Did amazon address any of that today . Mark we saw a lot of new functionality on the developer side. They introduced a lot of firstparty products. In terms of functionality, they are relying on third parties. There is new deep integration with other devices, like lights and thermostats that you have in your home. There are new ways to integrate your life, there are new echo buttons that have games that connect your home speaker to alexa. There is ways to go in this voice space. There is a lot of ai stuff they are working on. There is a presentation that is going on now. I am missing that, but it is worth it, totally worth talking to you. [laughter] emily they are teaming up to develop self driving cars. The automaker and the ride hailing a service announced they will share data to develop a system needed to design affordable driverless automobiles and get them onto local networks and eventually get them onto lyft networks. This move comes as fords rival bought a stake in lyft last year. Those two companies are still considering other options to expand ridesharing. Coming up, ellen pao opens up about her public fight against sexism in silicon valley. We will hear about life after the court case. This is bloomberg. Emily dyson, best known as the manufacturer of vacuum cleaners, will build an electric car by 2020. Founder james dyson said tuesday emily dyson, best known as the manufacturer of vacuum cleaners, will build an electric car by 2020. Founder james dyson said tuesday that the company is investing 1. 3 billion to develop the car, plus batteries to power it. Dyson said his electric car would be radically different from those being designed by other carmakers, including tesla. Ellen pao continues to make headlines. It has been five years since her trial became one of the most prominent cases of its kind in silicon valley. While she may have lost the suit she helped start the conversation of a gender inequality. She has written a book about her experience called reset my fight for inclusion and lasting change. I talked to her about rehashing things now. Take a listen. Ellen so many women and men came up to me and told me how much my story had inspired them, and how much it gave them comfort in the experiences they had. How they connected it with them. I wanted to give them all the facts, give them the whole story, and see if i can help other people through writing the book. Over time, give the inspiring ending to what was a terrible experience, that you can get through all of this and continue and have a career and move forward and also try to change tech and the business world. Emily you wrote in an oped that though a lot has not changed, the one thing is people now acknowledge sexism in the industry. Do you think the outcome would be different today . Ellen i do not know if we would be here if we had not filed suit, so it is hard to say. We have changed the conversation. No longer are women forced to defend themselves, so its much easier for people to say ive been harassed or discriminated against. People believe it. If it hadnt been for the women who came after me and shared their stories, would we be where we are today . I think someone now has a better shot. Emily we have seen so many allegations, a rash of
Sexual Harassment
stories in
Venture Capital
, uber, has any of this surprised you . Or are you just not surprised at all . Ellen most people familiar with the highest level of tech and
Venture Capital
have heard the stories. I think what has been surprising is so many people now have come forward. It started with a bunch of women who came forward in the last few years and with susan fowler coming out with such a detailed and specific blog post and her being accepted and not being taken down, that has opened the door for more people to come forward and changed the conversation. Emily
Ubers Travis Kalanick
has resigned. What went wrong at uber . Ellen early on i dont know the details. What happens in companies, you get this culture and you want to be harddriving, and you want to push and break the rules. That ends up not being limited to the business side. It goes into your interaction with employees and your peers and the people who report to you. You dont think the rules apply, and you do whatever you want. That ends up breaking down into legal areas. Emily what responsibility do vcs have . I dont know what it is. Letting the bros or bro culture run wild. Ellen i think they have a huge responsibility. The investors have a responsibility for letting the
Venture Capital
ists run wild. The problem is, you have got the fox guarding the hen house. You have people who dont have clean hands who are trying to manage people and tell them youre not supposed to do these things when they are doing them themselves. As a board member, you have a huge responsibility to the employees of the company and the other shareholders to make sure the company is operating within the bounds of the law and is building a culture that will help it be successful and that is diverse and inclusive, because we know that has better financial results. Emily you go into detail about the boys club environment, what you experience at kleiner perkins, and not just sexist jokes but racist jokes as well. If the culture is that broken, can it be fixed . Ellen i dont know if the
Bigger Companies
and the older funds can be fixed. I know in working through project include and capital teams, there are ceos, founders that are committed to diversity and inclusion, and they want to build companies that include everyone. That are tied to the community and the customer, and theyre going to build the best product. I have a lot of hope. I believe that the next generation of companies that are successful will have this inclusivity across all of their activities. I dont know about the ones that have been around for a while and talk about lowering the bar, as you have heard. Finding that next white, male nerd. How do you change that attitude . Emily youre referencing a comment that mike morris from sequoia made to me a few years ago. Venture capital firms like sequoia, they have one of woman partner now. Do you think these maledominated firms, are they actually going to be surpassed if they have the best returns and the best reputations . Ellen i know a lot of women and people of color who will not go meet with them because they dont think they will be treated fairly. If you look at the language, i am lowering the bar to bring in people from different groups, they dont think women or other groups are equal to the men they typically invest in. How do you work for somebody like that and let them invest in you and expect to get the same out, as other people . Or as you would get with a different investor who actually believes you are capable and as likely to succeed as other people . Emily that was ellen pao. We will have more from our conversation with ellen later in the show. Coming up, facebook is making a larger push to attack advertisers as it is broadening its
Media Coverage
as
President Trump
calls out the company for fake news. We break down the new media landscape. China has a new warning for whatsapp. We will discuss the status of the messaging service and what that means for facebooks inroads into the country. This is bloomberg. Emily
Facebook Says
it has had success fighting fake news. They launched an effort to combat fake news with new things. While the right wing alternative for germany made historic gains in the election, they said in a blog post that these actions did not eliminate misinformation entirely in the the election, it did make it harder to spread. The level of false news was low. Sticking with facebook,
President Trump
is taking aim at the social network, saying they were always antitrump. The networks were also antitrump. The tweet comes after facebook reveals will turn over the 3000 political ads that were bought with russian money in the president ial campaign. How will it affect facebooks push to attract advertisers as it broadens content offerings . Gerry facebook is making an aggressive push to take away advertising dollars from tv networks. They
Just Launched
Facebook Watch
, and there are a lot of
Online Publishers
that are producing content for that. That is where this is big push, a 70 billion market for television advertising. Facebook wants a piece of it. Google wants a piece of it. The tv networks, they have the lions share of that. There is a shift to digital. Emily are they concerned about the news and the russian issue . Advertisers . Gerry absolutely. Advertisers are extremely conservative. They are concerned about their brand being next to something that is controversial. Youtube had a problem with that earlier this year. Advertisers are very concerned about their content showing up alongside fake news as well. Emily ben, what is your take . Ben i am hopeful facebook is successful in shaking some of that money out of television. That is the model we are building a group nine, creating content for these platforms, in advance of the money showing up and knowing that consumer attention has shifted there. Ad dollars always lags consumers. Over the next three years, you will see money start to move more and more from tv into where people are spending time, which is mobile specifically. Emily facebook and google are gobbling up that time, how much is left over for
Companies Like
you . Ben when you look at how tv has traditionally been bought, advertisers are buying from the cable networks. In digital, you are buying from the plot forms are other than media brands. That is problematic as a media brand. A shift is happening now and it will take a long time, as facebook and google, snapchat and twitter as well, are looking at that 70 billion in tv and wanting to get it, they have to place more value on premium content because that is so important to advertisers. In meeting that, they need to share some of that pie. That is what facebook has done with the launch of watch. Theyre starting to pay creators for content. They are doing more to share advertising. It is still early. Also the competition between these platforms is important. When youtube was the only show in town, publishers have no leverage. Now with multiple platforms sort of competing for premium content, it is a good time to be a premium content creator. There will be a huge business, although it will take time. Emily you guys have a show called the comeback kid. It doing very well out here. Ben we have 24 shows. Emily what engagement are you seeing . Ben comeback kid is the number one show on
Facebook Watch
so far. Were seeing over 20 million views per episode, over 20 million minutes of viewing per episode. You can all that up to almost anything in linear tv. An enormous scale. Granted, all of our shows are not the number one show on the platform, but collectively, in less than three weeks we have had over a hundred million views, half a million followers to the shows. If the
Linear Network
tv version of a tivo subscriber to a program, we are building engagement and are pleased with the early results. This will shake out over an an extended period of time. Emily gerry, do you think the
Traditional Networks
will embrace
Facebook Watch
. Or is it a wait and see . Gerry i think its waitandsee. You talked about trump and
Media Companies
colluding, my conversation with
Sensor Systems<\/a> working. We were not aware of the extent of the issue. We are looking to see what the case is. The problem seems to be in the module makers. You have all of these different components that are pieced together to make the three sensor package itself. The
Sticking Point<\/a> seems to be there. The delivery of those components, they are doing ok. Its the module assembly, those, and south korea, and the japanese company, which is owned by foxconn, those seem to be the basis of the issue. Emily tim cook was the supply chain genius. He probably knows more than anyone at apple. At this point, theyve been working on the phone for months, if not years. Why wouldnt they be able to stockpile some of these components . Alex it speaks to the fact that people have been worrying for a while about the extent to which they are able to deliver blockbuster advances in smartphones anymore. Apple is really trying to push the envelope and get the technology available. The iphone is the bestselling smart phone in the world. Samsung sells more but there are a bunch of different models. Because it is the bestselling in the world, and they are trying to do this cuttingedge technology, a lot of these companies are not yet at the stage where they can deliver all of the components necessary. On some of the
Conference Calls<\/a> over the past couple of months, they have had a big
Capital Expenditure<\/a> as they tried to ramp up production and meet apples demand. Clearly, that has not been a success as anticipated. Emily all of this is coming at the same time that the iphone 8 is out, and people are complaining about features not working. What do you make of that . How could that impact sales . Alex there is always a little bit of that. The launch of any product, there are teething problems. Usually, most of it is solvable with a software patch. We had the watch last week that had some connectivity issues. There have been some problems of crackling audio. I literally got my iphone 8, so we will have to see if that is the case. Apple has said they will be able to remedy it with a software fix. I would not worry much about those things as an investor, at any rate, it is the supply rate which is a much greater concern. Emily amazon has found its hardware calling with the amazon echo. The tech giant held an event in seattle to unveil a number of new products including alexa accessories. The product revamp shows the tech giant will not back down to the likes of apple or google. Bloomberg techs mark gurman attended the event and joins us from seattle. Mark this is amazon stepping up to the plate and heralding itself as a major
Consumer Technology<\/a> player. It is no longer just apple and google. Amazon is saying they are here now and they stepped up their smart home game. They have several new echo speakers are in. Emily mark, you review these products, how does this stack up to google home and what apple is planning to unveil in december . Mark google has their home speaker. Its the center of their smart home world. Apple has their home pod speaker coming out in december. That will become the center hub of their smart home world. Around those products, have other devices, apple has the apple tv and the iphone. Google has the pixel phone and their tv products and other operating system, android. What amazon is saying is we are going to make the smart home our category. We are going to take over every part of the home. Not only do they have a smaller, midtier speaker, but they have a new and a speaker that allows you to connect to appliances in the network. They have a new fire tv product and a new echo spot. That really stole the show. It is 130, halfcircle device. It will have a 2. 5inch screen. It is like an apple watch screen. You can get video calls from it and watch video and listen to music. Read lyrics, get contacts, learn about your day, your calendar, your weather. Amazon is coming out with smart home devices and speakers for all parts of your life. You alluded to the bmw partnership. Amazon is trying to stick alexa wherever you are. Emily do you think we will see more partnerships in the future . With other carmakers, for example . Mark this is the third one. They announced partnerships with volkswagen and ford at the beginning of the year. We have not seen many new models with the alexa functions as of yet. Bmw was on stage at the event today. At the
Seattle Office<\/a> you see behind me. They talked about how some of the new cars will come out in the middle of the year with alexa. It is interesting will someone buy a new car just because it has alexa support in it . I dont think its going to drive sales or new purchase intent for consumers on the car side. But it certainly is a big win for amazon, being able to get somebody in their home driving home, they can just say, alexa, whatever, and they can buy it through their car. Its a big win for amazon. Emily in using amazon alexa, it certainly has the cool factor. But alexa still gets confused sometimes. It seems the
Voice Recognition<\/a> has a long way to go. Did amazon address any of that today . Mark we saw a lot of new functionality on the developer side. They introduced a lot of firstparty products. In terms of functionality, they are relying on third parties. There is new deep integration with other devices, like lights and thermostats that you have in your home. There are new ways to integrate your life, there are new echo buttons that have games that connect your home speaker to alexa. There is ways to go in this voice space. There is a lot of ai stuff they are working on. There is a presentation that is going on now. I am missing that, but it is worth it, totally worth talking to you. [laughter] emily they are teaming up to develop self driving cars. The automaker and the ride hailing a service announced they will share data to develop a system needed to design affordable driverless automobiles and get them onto local networks and eventually get them onto lyft networks. This move comes as fords rival bought a stake in lyft last year. Those two companies are still considering other options to expand ridesharing. Coming up, ellen pao opens up about her public fight against sexism in silicon valley. We will hear about life after the court case. This is bloomberg. Emily dyson, best known as the manufacturer of vacuum cleaners, will build an electric car by 2020. Founder james dyson said tuesday emily dyson, best known as the manufacturer of vacuum cleaners, will build an electric car by 2020. Founder james dyson said tuesday that the company is investing 1. 3 billion to develop the car, plus batteries to power it. Dyson said his electric car would be radically different from those being designed by other carmakers, including tesla. Ellen pao continues to make headlines. It has been five years since her trial became one of the most prominent cases of its kind in silicon valley. While she may have lost the suit she helped start the conversation of a gender inequality. She has written a book about her experience called reset my fight for inclusion and lasting change. I talked to her about rehashing things now. Take a listen. Ellen so many women and men came up to me and told me how much my story had inspired them, and how much it gave them comfort in the experiences they had. How they connected it with them. I wanted to give them all the facts, give them the whole story, and see if i can help other people through writing the book. Over time, give the inspiring ending to what was a terrible experience, that you can get through all of this and continue and have a career and move forward and also try to change tech and the business world. Emily you wrote in an oped that though a lot has not changed, the one thing is people now acknowledge sexism in the industry. Do you think the outcome would be different today . Ellen i do not know if we would be here if we had not filed suit, so it is hard to say. We have changed the conversation. No longer are women forced to defend themselves, so its much easier for people to say ive been harassed or discriminated against. People believe it. If it hadnt been for the women who came after me and shared their stories, would we be where we are today . I think someone now has a better shot. Emily we have seen so many allegations, a rash of
Sexual Harassment<\/a> stories in
Venture Capital<\/a>, uber, has any of this surprised you . Or are you just not surprised at all . Ellen most people familiar with the highest level of tech and
Venture Capital<\/a> have heard the stories. I think what has been surprising is so many people now have come forward. It started with a bunch of women who came forward in the last few years and with susan fowler coming out with such a detailed and specific blog post and her being accepted and not being taken down, that has opened the door for more people to come forward and changed the conversation. Emily
Ubers Travis Kalanick<\/a> has resigned. What went wrong at uber . Ellen early on i dont know the details. What happens in companies, you get this culture and you want to be harddriving, and you want to push and break the rules. That ends up not being limited to the business side. It goes into your interaction with employees and your peers and the people who report to you. You dont think the rules apply, and you do whatever you want. That ends up breaking down into legal areas. Emily what responsibility do vcs have . I dont know what it is. Letting the bros or bro culture run wild. Ellen i think they have a huge responsibility. The investors have a responsibility for letting the
Venture Capital<\/a>ists run wild. The problem is, you have got the fox guarding the hen house. You have people who dont have clean hands who are trying to manage people and tell them youre not supposed to do these things when they are doing them themselves. As a board member, you have a huge responsibility to the employees of the company and the other shareholders to make sure the company is operating within the bounds of the law and is building a culture that will help it be successful and that is diverse and inclusive, because we know that has better financial results. Emily you go into detail about the boys club environment, what you experience at kleiner perkins, and not just sexist jokes but racist jokes as well. If the culture is that broken, can it be fixed . Ellen i dont know if the
Bigger Companies<\/a> and the older funds can be fixed. I know in working through project include and capital teams, there are ceos, founders that are committed to diversity and inclusion, and they want to build companies that include everyone. That are tied to the community and the customer, and theyre going to build the best product. I have a lot of hope. I believe that the next generation of companies that are successful will have this inclusivity across all of their activities. I dont know about the ones that have been around for a while and talk about lowering the bar, as you have heard. Finding that next white, male nerd. How do you change that attitude . Emily youre referencing a comment that mike morris from sequoia made to me a few years ago. Venture capital firms like sequoia, they have one of woman partner now. Do you think these maledominated firms, are they actually going to be surpassed if they have the best returns and the best reputations . Ellen i know a lot of women and people of color who will not go meet with them because they dont think they will be treated fairly. If you look at the language, i am lowering the bar to bring in people from different groups, they dont think women or other groups are equal to the men they typically invest in. How do you work for somebody like that and let them invest in you and expect to get the same out, as other people . Or as you would get with a different investor who actually believes you are capable and as likely to succeed as other people . Emily that was ellen pao. We will have more from our conversation with ellen later in the show. Coming up, facebook is making a larger push to attack advertisers as it is broadening its
Media Coverage<\/a> as
President Trump<\/a> calls out the company for fake news. We break down the new media landscape. China has a new warning for whatsapp. We will discuss the status of the messaging service and what that means for facebooks inroads into the country. This is bloomberg. Emily
Facebook Says<\/a> it has had success fighting fake news. They launched an effort to combat fake news with new things. While the right wing alternative for germany made historic gains in the election, they said in a blog post that these actions did not eliminate misinformation entirely in the the election, it did make it harder to spread. The level of false news was low. Sticking with facebook,
President Trump<\/a> is taking aim at the social network, saying they were always antitrump. The networks were also antitrump. The tweet comes after facebook reveals will turn over the 3000 political ads that were bought with russian money in the president ial campaign. How will it affect facebooks push to attract advertisers as it broadens content offerings . Gerry facebook is making an aggressive push to take away advertising dollars from tv networks. They
Just Launched<\/a>
Facebook Watch<\/a>, and there are a lot of
Online Publishers<\/a> that are producing content for that. That is where this is big push, a 70 billion market for television advertising. Facebook wants a piece of it. Google wants a piece of it. The tv networks, they have the lions share of that. There is a shift to digital. Emily are they concerned about the news and the russian issue . Advertisers . Gerry absolutely. Advertisers are extremely conservative. They are concerned about their brand being next to something that is controversial. Youtube had a problem with that earlier this year. Advertisers are very concerned about their content showing up alongside fake news as well. Emily ben, what is your take . Ben i am hopeful facebook is successful in shaking some of that money out of television. That is the model we are building a group nine, creating content for these platforms, in advance of the money showing up and knowing that consumer attention has shifted there. Ad dollars always lags consumers. Over the next three years, you will see money start to move more and more from tv into where people are spending time, which is mobile specifically. Emily facebook and google are gobbling up that time, how much is left over for
Companies Like<\/a> you . Ben when you look at how tv has traditionally been bought, advertisers are buying from the cable networks. In digital, you are buying from the plot forms are other than media brands. That is problematic as a media brand. A shift is happening now and it will take a long time, as facebook and google, snapchat and twitter as well, are looking at that 70 billion in tv and wanting to get it, they have to place more value on premium content because that is so important to advertisers. In meeting that, they need to share some of that pie. That is what facebook has done with the launch of watch. Theyre starting to pay creators for content. They are doing more to share advertising. It is still early. Also the competition between these platforms is important. When youtube was the only show in town, publishers have no leverage. Now with multiple platforms sort of competing for premium content, it is a good time to be a premium content creator. There will be a huge business, although it will take time. Emily you guys have a show called the comeback kid. It doing very well out here. Ben we have 24 shows. Emily what engagement are you seeing . Ben comeback kid is the number one show on
Facebook Watch<\/a> so far. Were seeing over 20 million views per episode, over 20 million minutes of viewing per episode. You can all that up to almost anything in linear tv. An enormous scale. Granted, all of our shows are not the number one show on the platform, but collectively, in less than three weeks we have had over a hundred million views, half a million followers to the shows. If the
Linear Network<\/a> tv version of a tivo subscriber to a program, we are building engagement and are pleased with the early results. This will shake out over an an extended period of time. Emily gerry, do you think the
Traditional Networks<\/a> will embrace
Facebook Watch<\/a> . Or is it a wait and see . Gerry i think its waitandsee. You talked about trump and
Media Companies<\/a> colluding, my conversation with
Media Companies<\/a> is collusion is the farthest thing. There is frustration with facebook in terms of facebook will ask
Media Companies<\/a> to produce content for our latest initiative, and there is some frustration they are not getting the financial terms they hoped for. It seems like facebook has made an effort to reach out to the
Journalism Community<\/a> and the media community, to try and really meet their needs. Facebook is starting to come around. The idea that they are colluding together is actually kind of funny when you consider there is real tension there. Emily coming up, twitter is experimenting with its biggest product change yet expanding the character limits on tweets. We will examine why. This may be key to getting more users. A reminder, all episodes are
Live Streaming<\/a> on twitter. Check us out bloombergtechtv, weekdays. This is bloomberg. So we need tablets installed. With the menu app ready to roll. In 12 weeks. Yeah. The world of fast food is being changed by faster networks. Data, applications, customer experience. Which is why comcast business delivers
Consistent Network Performance<\/a> and speed across all your locations. Fast connections everywhere. Thats how you outmaneuver. Emily welcome back to best of
Bloomberg Technology<\/a>. Im emily chang. In a bid to expand its sluggish user base, twitter is testing a big product change having to do with its famous 140 character limit. In a statement, the company explained, we want everyone around the world to easily express themselves on twitter, so we are doing something new. We are going to try out a longer limit, 280 characters. For reaction we spoke with bloombergs selina wang and david kirkpatrick. Selina with a small percentage of users globally, they can use up to 280 characters. That is twice as much as the current characters allowed. This is a big deal. A lot of heavy twitter users see the 140 character limit as the defining characteristic of the platform. I have been monitoring twitter closely. There is already a lot of backlash, a lot of emotional response to the change. People saying this may have an impact on the brevity, the concise nature of the platform. But at the same time, twitter faces this problem where they simply are not growing users. By making it easier to send tweets where you dont to think dont have to think about condensing into 140 characters, they are hoping more people come back to the platform day after day. Emily david, this idea has long been bandied about. Another way to look at it, though, is 140 more characters for
President Trump<\/a>. David yes, well, i think of
Marc Andreessen<\/a> creating the tweet storm, because you didnt have enough space to
Say Something<\/a> in detail, so i think its a good move. There is virtue in concision. Obviously, the power users the , real insiders who think they helped create twitter are going to be disappointed. But if they want to be a mass service and grow considerably beyond where they are today, they have to keep making it easier to use. This is a step in that direction. Emily selina, remind us about user growth and ad revenue. Both are slowing. Struggling. Selina they are having trouble gaining advertising revenue, also the monthly active users are stagnant. That is a huge red flag to investors. They are hoping an uptick which shows that is a longterm, sustainable path for the
Company Going<\/a> forward. You made a good point earlier this is going to allow donald trump to now have twice as much room to get his tweets. Now donald trump has been a big boost to twitters usage, but not enough to move that mau number up, even after the election. Emily i wonder what doubling the number of characters will really do. I mean is it really that , significant of a change, david . David i know that there are many times when i find it is not enough space. For me double that space really would be enough to
Say Something<\/a> in english. But it is still enough to have a real sentence or two. So i think its a good move. I really do think it will make it easier. Emily what else does twitter need to do . Is this a
Silver Bullet<\/a> . David i think so many of us have been flummoxed trying to figure out what twitter should do. It is the weirdest situation. The bestknown company, the bestknown product that cant really seem to become a commercial success in a big way. It is clearly not going to go away. There have been
Many Companies<\/a> that have been said to be interested in buying it. Disney, salesforce. Among others. I think its possible
Something Like<\/a> that could make sense. I would hope it is almost like a global or national treasure. Both global and national. We cannot let it go away. The president s use is emblematic of the fact that pretty much every political leader uses it to make a public statement. It is critical in a crisis like a hurricane or a flood. How findgot to some a way maybe they should start charging us . I dont know. Emily the people who love twitter do love twitter, selina. What do we know about how long the test will last . And when the
Company Might<\/a> make an actual decision on whether this is permanent . Selina we dont know all the details yet. I expect it will last several weeks. If the initial results go well, they will probably roll it out to other users. I think an interesting point is when i spoke to the company, they are doing this based on
Previous Research<\/a> they had found. Now an interesting detail about this test is it is excluding certain languages, including japanese and chinese. Because those are languages where they found that you can express a lot more in fewer characters. So they have this
Interesting Data<\/a> point, that almost 10 of tweets in english reach the 140character but only. 4 in maximum japanese reach that , maximum point. So they are seeing that in certain languages are much , they are much easier to tweet conversations. They are hoping that it will be the same thing in english. Emily bloombergs selina wang and david kirkpatrick. A new warning from chinas government to
Facebooks Whatsapp<\/a> messaging service. The
Cyberspace Administration<\/a> of china says the service should act to stop the spread of the illegal information and take proactive measures to intercept information regarding terror. This comes after
Whatsapp Service<\/a> was interrupted in china earlier this week. Bloombergs asia correspondent
Stephen Engle<\/a> joined us from hong kong with more. Stephen often times when you are reading the different rules and regulation on the great firewall of china, it is all about speculation. Is my service blocked, slow . What is happening . Is it in the crosshairs by regulators . Now we actually have got a statement from the
Cyberspace Administration<\/a> in response to questions posed by bloomberg news. They came back saying whatsapp needs to act to stop the spread of illegal information in china on the whatsapp platform and must take proactive measures. Basically to do what they are already requiring tencents wechat to do. That is a domestic company. Whatsapp is the last remaining service by facebook that is actually available in china. We have been having intermittent outages, if you will. In july, users reported including myself i could not upload photos or videos when i was in china in july. And now sunday and monday , outright outage, including the text messaging part of the service. All of a sudden on tuesday, the service came back on. This is a clear warning from the authorities they are watching, and perhaps they have found a way to get around the endtoend encryption that whatsapp has employed. Emily china recently fined tencent. Could fines be on the way for whatsapp or facebook . Stephen yes, they could you have to question what the efficacy of the fines would be, but they could obviously fine them. The
Cyberspace Administration<\/a> is cracking down on baidu, weibo, on tencent and others because in just the last week or two , they have levied heavy fines for various violations, including the alleged spread of propaganda and terrorism material. So they are really cracking down ahead of the 19th party congress, which starts in three weeks from now. The big question is, are these temporary measures that they had in many years past before these big political powwows, or is it lasting enforcement that would go on for years . Emily meantime, are there other messaging services in china benefiting from this disruption . Stephen there is wechat, the big one. Nearly one billion users by tencent. That is the dominant ecosystem. There are several versions of weibo. Alibaba has a few of these various messaging apps. They use them for traders to communicate. Shanda has momo as well, which started as a dating app. There is telegram as well, which came from the russians. Interestingly a lot of the , bitcoin groups went over to telegram when wechat groups were being cracked down, so they could talk about strategies to getting your money to overseas wallets. There are a few players, but wechat is the dominant one domestically. Emily do we expect more disruptions as we get close to this big communist
Party Meeting<\/a> . Stephen my oneword answer would be yes. Emily that was bloombergs
Stephen Engle<\/a> from hong kong. Instagram has rolled out some new changes to combat harassment. The app will give users the option to limit those that can comment on photos to only people they follow. Instagram is also expanding its offensive comment filter to four more languages arabic, french, german, and portuguese. Coming up, more on my conversation with ellen pao and what she has to say about her time as interim ceo of reddit. That is next. Plus, gopro is betting its new hero six camera will be a hit. We will hear from ceo nick woodman. That is next. Emily toshiba has signed a final agreement to sell its flash memory chip business. The price tag 18 billion. Among the firms in the consortium apple and dell. ,now back to my conversation with ellen pao. After she lost her historic gender discrimination case, she became interim ceo of reddit , where she made bold but controversial moves to crack down on hate. Eight months in, she was forced to resign. I asked her what happened. Here is what she had to say. Ellen i think we had a lot of change that had to happen. Yishan came in a couple of years before i did and tried to transform the company. It was a small startup with just mostly white men, started by two white men. That culture was very strong of exclusion. As yishan brought in different people all the women kept , getting pushed out. I ended up joining and in 2013 , worked with yishan to make change together. This is a group that did not want mobile. Very conservative, very locked into the product as it was. We were trying to bring it into reach more people, have more conversations. I think the change was really hard on the community. It was hard on the employees. It took a lot of effort to get to where we got at the end of that. Emily you made an effort to cut down on hate. You banned several of the most hateful subreddits. And there is some evidence to show it actually worked. There is a study that came out that shows they had significantly cut down on hate. Do you think that
Online Harassment<\/a> would be such a problem if more women had been involved in designing the system in the first place . Ellen i think if more women of color, and especially underrepresented women of color, were involved at higher levels, it would be completely different. The people who get harassed the most and understand how the systems work and see all the ways it gets distorted into ultimately presenting a certain view and having that dominate the conversation, and if you cant come at it from that minority, small group perspective, it is hard to see everything that is going on. Emily how would twitter or reddit be different . Ellen people would have invested more in tools. They would have invested more in community management. They would have had different rules. Content would have been taken down faster and people would have been banned in a more consistent way. But it is hard when you dont put enough resources, because the problems scale with the user base. And if you are not putting in the framework and not putting in the tools, it gets out of hand quickly. Emily how much hope do you have for twitter . In twitter, and this point 10 years in get their harassment problem under control . Ellen i know they are trying, and they have made incremental improvements, but i do believe that it is going to take a lot of work to get rid of all the harassment and make sure that everybody feels comfortable participating in the platform. I think they should ban donald trump. I think that is a huge problem, that he has behavior that is very counter to the terms of service, yet he continues to be given this huge platform to dominate and to encourage more of the same bad behavior. Emily you think twitter should ban donald trump . Ellen i am one of many people who believe that. It is not just me and with good reason. Emily what is the reason . Ellen he is harassing people. He threatens people on the platform, and then he uses his influence to get people to harass other people on the platform. Emily what about people that would come back and say free speech . Ellen it is such a red herring. I think there are many reasons why people say free speech. I mean it is an easy thing. , then you can say whatever you want on the platform. We saw on reddit when you allow free speech, it is the people who are dominant on the platform who can bully everyone else off. Of is also an issue everybody limits some speech on the platform. You ban spam, you ban certain types of harassment. So there is not people are not having complete free speech on the platform already. This is just driving the rules to protect people from getting harassed off the platform. So you can have as many voices a s possible. The purpose of free speech is to allow everyone to be able to have a voice, to have these conversations, and if one group is pushing everybody else off, you can have this free speech platform, but there are not many voices or opinions being represented. Emily senator
Hannah Beth Jackson<\/a> is planning to introduce a bill that would explicitly prohibit harassment in the
Venture Capital<\/a> industry. What is your take on the bill, or how optimistic are you that legislation can solve this problem . Ellen i am hopeful. All right . Everything else has not solved it so far. I think the shaming is helping a little bit. Like people coming out and saying this is not acceptable. You cannot go into an airplane and experience what i have experienced, which is people talking about important stars, that is, prostitutes , not acceptable anymore. You know that and you should change your behavior. It is not changing quite yet. Butit is not changing quite yet. We need
Something Else<\/a> to help. Everything i think will help, but i dont think that will be the one thing that prevents it. These people do think they are above the law. They do not think the law applies to them, so we need to keep pushing that
Public Perception<\/a> and telling the stories. The most impactful thing is always women telling their stories. Emily on that last note you , mentioned the pornobsessed ceo. We saw that in your book. You do not mention his name. His name did come up in the trial. Why did you leave his name out, and what else did you leave out . Im sure there is a lot you did not put in there. Ellen i wanted the book to be as fair as possible. So with the ceo, i dont know him that well. Maybe he had an off day. Maybe he was goaded into doing something by ted, i just dont know. I didnt want to have this one incident, this one experience for five hours, be the way i portrayed him to the whole public. I think i tried to be fair. I tried to keep peoples families out of it. I have tried to i had a friend who was like no collateral damage. You have people who are the protagonists and the main people i interacted with and who held me back and holding other people back. They were the people i wanted the story to focus on. Emily coming up, gopro got a boost last month in anticipation for the hero6. Now we get a good look at the device and hear from the ceo nick woodman, next. If you like bloomberg news, check us out on the
Bloomberg Radio<\/a> app and on sirius xm. This is bloomberg. Emily gopro is calling their new hero6 camera the most powerful and best ever released by the company. They are betting big on the device. This boosted thirdquarter guidance and could be the key to the camera makers turnaround. Bloombergs selina wang spoke with gopro ceo nick woodman. Nick gopro has to keep coming up with new products that excite consumers. I think we did that today with hero6 black and fusion. Hero6 black is far and away the most exciting, capable and easy , to use gopro we have ever made. Fusion pushes gopro into a totally new market, with 360 spherical cameras. We think this will play an
Important Role<\/a> in the future of how people capture and share themselves. First newhe product. We also made important advancements with karma, which now has a follow me function. And a cool new feature that allows karma to film above it, which is unique to drones. I think we are showing gopro is continuing to innovate and continuing to excite consumers. Selina so karma and spherical fusion camera are new additions to the product line. How else will we see it evolve beyond the traditional action cameras . Nick a big part of gopros future is we now see a gopro as an untethered lens for your phone. What we mean is a gopro now automatically copies any new photos and videos you capture over to your phone. The gopro app creates a video for you. So when you use a gopro, it is like using a separate, untethered lens that offloads all its footage to your phone. So really, a gopro is the ultimate capture complement to a phone. As we think of ourselves in that way and think about new types of gopros, new types of untethered lenses, we think we can radically expand our market. Selena smartphones are
Getting Better<\/a> and durable and waterproof. What is your pitch to those consumers who say we dont need another camera . My smartphone is good enough. Nick well, i think that a phone is a phenomenal camera. It is often in your pocket. It is right there reactively when you want to film somebody or
Something Else<\/a> happening. But there is a lot of activities where you dont want to pull out your phone. You want to be more in the moment. You also dont want to film somebody else. You want to film yourself. And so gopro, with its untethered lense strategy, we think we can make lenses that complement somebodys use of a phone, that would not require them to pull the phone out or even have the phone on them. Selina the hero6 is using a customdesigned processor for the first time. So why decide to go this route, and what types of challenges are associated with making this yourself . Nick designing and developing a processor with a partner as we did, there is always risk involved. But there is also a risk that when you are reliant on others innovation and ingenuity that they put into their own work and into their own processors. We found what we want to do with hero6 black we could not do that with any other processor on the market. So we had to develop our own. It allowed us to hit cost targets for the product. If we had been able to do this with somebody else, hero6 would have been more expensive to the end consumer. So that is not good. We were able to deliver hero6 at a lower price point and hit performance levels that would have otherwise been impossible. Taking our destiny into our own hands from a technology standpoint. Selina last year was pretty challenging from a technical standpoint. There were some product delays. So what have you learned from those experiences to make sure the rollout of this years products is seamless . Nick we are doing fewer things better. In previous years, we had other businesses we were running, like our media business. We had many programs going on and products consumers never saw, that were more targeted towards professionals. We cut all of that and focused gopro on what it does best and what our whole vision and mission is, is to help people capture and share their lives so they can celebrate the moment in a way they just cant with any other camera. Selina being a
Hardware Company<\/a> is difficult in a public market. Gopro shares have fallen dramatically since the ipo. What are investors missing . Nick i think investors are missing that we are growing again. The previous comp of 2016, people think unit sales are way down, volumes are higher. What they need to look at is that volumes of our
Premium Products<\/a> 299 and above are growing. We are selling more of the products that matter and the products that have better margin for gopro and make us more profit. So gopro is healthy and growing. I think investors are starting to take notice. Selina lets talk about drones. Many analysts say the
Market Leader<\/a> dgi has superior features and price points. So given those market effects how much of a revenue driver do , you see drones becoming for gopro . Nick we are really excited about drones. Karma is doing well. Its a phenomenal accessory for the gopro community. It is very versatile with a detachable gimbal, how it attaches to the karma grip. Our customers have spoken. They really like that flexibility, that versatility. Karma continues to get better. Today we announced follow me as a lookup well feature that allows karma to film what is above it, which is unique to drones. We will continue to innovate and advance our drone offering into what comes after karma. Emily that was gopro ceo nick woodman. That does it for best of
Bloomberg Technology<\/a>. We will bring you the latest in tech throughout the week. Tune in each day. 5 00 p. M. In new york, 2 00 p. M. In san francisco. And remember all episodes of ,
Bloomberg Technology<\/a> are
Live Streaming<\/a> on twitter. Check us out. That is all for now. This is bloomberg. David did you always know you wanted to run fidelity . I never felt any pressure to. David did your father say if would be the ceo . He was not the guy david did your father say if you worked hard, you would be ceo . He was not the guy to make promises. David was accompanied into growing up with your father and family being famous . We were not famous at all. I think this is the moment that i have been waiting for. Would you fix your tie, please. David people would not recognize me if my tie was fixed. I will leave it this way. All right","publisher":{"@type":"Organization","name":"archive.org","logo":{"@type":"ImageObject","width":"800","height":"600","url":"\/\/ia800806.us.archive.org\/6\/items\/BLOOMBERG_20171001_130000_Best_of_Bloomberg_Technology\/BLOOMBERG_20171001_130000_Best_of_Bloomberg_Technology.thumbs\/BLOOMBERG_20171001_130000_Best_of_Bloomberg_Technology_000001.jpg"}},"autauthor":{"@type":"Organization"},"author":{"sameAs":"archive.org","name":"archive.org"}}],"coverageEndTime":"20240629T12:35:10+00:00"}