Kristen nielsen is deputy chief of staff under kelly. The house has passed a 36. 5 billion hurricane aid package. 16 billion will pay for Flood Insurance claims and emergency aid to help her to rico. Florida and texas have requested about 40 billion. The death toll from wildfires raging in california is now 26. Officials expect that to rise. More than 8000 firefighters are battling the blaze is with additional manpower and equipment on the way. Global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. Im alisa parenti. This is bloomberg. Emily i am emily chang and this is bloomberg technology. Coming up, Facebooks Sheryl Sandberg goes to washington in pledges full cooperation from the social network. The investigation into election interference and when the public and can expect when do see more than 3000 russian linked ads. Plus my wide ranging exclusive amazons cswith uite. Had to say about improving the Customer Experience with ai. China officially demands a piece of its biggest tech company. Do they want beijing at the table . The potential power grab is under the microscope. Facebook coo Sheryl Sandberg says the company absolutely supports public release of 3000 bought ads are in the president ial election, but says it is up to congress to decide the appropriate time to do so. To was in washington, d. C. Talk about these ads. Take a listen. We are giving them our peace. Piece. They can understand the whole picture. They have access to more information than we do. What i reiterated in those meetings is that we think it is important they get the whole picture and they explain that transparently to the american public. Emily joining me now is the founder of google ventures. And sarah frier. Sandbergs about what had to say and what it appears her strategy is . Facebook has been over communicating in this whole ordeal. They want to make the point that they are taking responsibility for what it was that ran on their platform. But that they are not taking responsibility for the fact there were Divisive Political ads. Sandberg mentioned several Times Facebook is all about free speech, they do not want to in a anyones expression, position of what can and cannot be said on facebook in terms of ideas. But when it comes to fake accounts, she is taking responsibility. Emily how bad is the position Facebook Event . I do not want to overstate it. They are good people. They are dealing with a platform that was weaponize in an unpredictable way. It is a surprise to a lot of us. But there is some responsibility for the users of facebook to not make your decisions based on advertisements they might click on. Emily what is our responsibility . Bill to take seriously your responsibility in this democratic republic to understand your issues, look at the source of the information, and make an assessment. I would not say that everyone is a victim in that sense. You have a nationstate in russia that is trying to influence an election. I think we need to focus on that as the real problem. I would not hold facebooks feet too much to the fire on this. Emily sandberg spoke in washington. What do we know about the discussions . Sandberg explained to them how things were working on their end, the extent to which they have gone into looking at the russian ads. The fact that they realize there is more to do and she is asking for cooperation from the intelligence community. They looked into stuff known from the Research InternetResearch Agency in russia which is connected to the government. They need to know the other places they should be looking if there is more of a greater threat. This is something zuckerberg came out and said after the whole discovery of russian ads is with intelligence communities , around the world, they want to be looped in on what they should be looking for and work with other companies. Emily your former company, google, is involved here. You have fake news spreading and across the platform, russianbought ads on youtube. What is googles responsibility . Bill all of the owners and operators of Tech Companies have a responsibility. At the same time, you are seeing a nationstate that is trying to take advantage of a population by dividing and making us choose sides and of fomenting the sense among its own people, and actually, it is working. We are fighting with each other, theer than looking at problem, we are not under attack from missiles, but under attack electronically. That can be almost as dangerous. Emily facebook is saying they are making changes, hiring another 1000 people. They are saying all humans will approve or disapprove of any political advertising that is bought correct . , sarah they are saying that will go through a manual review. The 1000 people they hired are looking specifically at ads targeted to people based on their politics or race and things that might lend themselves to a little bit more incendiary content. Emily as you say these are , actions coming from a particular nationstate. Now that we know, what is the responsibility of the platforms . What should they be doing . Bill they are doing the right thing, cooperating with congress being transparent and answering , questions in being an open source at the ads in who would they were targeted. I have a lot of faith in these companies, but mostly the people that work there to try to do the right thing. We are in the midst of an investigation. What more can we ask of them other than to cooperate . Emily sandberg answered a lot of questions. What didnt she answer . Sarah one thing she dodged is the question whether the targeting on the ads that ran backed by russia had anything related to the targeting of the trump campaign. That is one of the things investigators will look at to try and see if there are any ties between trumps strategy and russias strategy and any evidence they were working together. She said when the ads come out, they will also release the targeting data. I guess we can come up with a conclusion then. Emily looking forward, how big a crisis is it . The election aside, fake news, political advertising, how hard are these issues going to be for the platforms to deal with . Bill if it is not facebook, it will be another platform. The key is to secure the platforms as much as we can from future influence. They will find other ways to try to foment and hurt the american people. The key is to try to minimize that. I dont think it is a crisis. A crisis is a fire raging through northern california, the hurricane through puerto rico, a crisis is people are dying. , this election interference should be taken seriously, but i do not want to overstate it. Emily thank you so much. Bloomberg technology is live on twitter, you can check us out. This is bloomberg. Emily tesla is recalling about 11,000 model x suvs due to possible issues with the second fold flat seats. Only 3 of the electric suvs are being recalled, only 3 of them have issues. The problem involves incorrectly adjusted seat cables. Tesla said it has not received reports of accidents related to this problem. Cobalt announced it has raised another 14 million of gross capital, bringing the total amount raised to 89 million. The music Royalty Company start up has bill mahers as their leading investor. He is also joining the board. Section 32 founder bill maris is joining us. You raised 160 million. How do you keep up a pace like that . We only make one or two investments a year. Bill i am not your average vc. At google, we were doing 50 to 100 investments a year. The pace of 15 to 17 a year feel feels somewhat leisurely. I am also drawing on a network of entrepreneurs and founders i have known for quite some time. My wife is a kobalt musician. Emily when you look at potential investments, what are you seeing . A lot of good ideas do you see promise and high valuations . Bill i am seeing the market has changed tremendously in the last five to 10 years. It is changing in a way where it may not change back. Softbank is out with 100 billion fund which causes a lot of strange behaviors for startups. It compresses returns because of valuations go up artificially. I am also seeing changes with regard to cryptocurrencies and coin offerings that may obsolete a large part of the venture business. Emily how so . Bill when you can raise crowd source money from a large group of people in a week, that makes it a much less painful process than talking to people like myself and going through the analysis and the time that it takes to raise venture money. That is a more attractive proposition to a lot of entrepreneurs. It will change the business. Emily how dramatically could this impact Silicon Valley . Bill i think these technologies are likely to fundamentally shift. It will not obsolete everything, but it will shift the way startups are funded over time and the way a lot of transactions are handled. Emily what does it mean for the prominent vcs . Bill you will have to adjust your business lately. The bell is not necessarily tolling right now. There are a lot of a venture funds and a lot of people with capital. That will change the way we invest. Emily the bell is tolling for that . Bill we will see. Emily bitcoin. You have invested in it. Yet jamie dimon says bitcoin is a fraud. Which is it . Platformn base is the on which people can trade cryptocurrencies. Bitcoin is one of them. I think jamie dimon is incorrect. There is a bubble, money to be made and lost. If you take the value of all of these startups, it is a 70 billion industry. If that is a bubble, it is not a very big bubble. There is some Enduring Technology that is likely to last. We disagree on that. Emily what about ai . Some people say it is overhyped. Some people like elon musk, say it is the end of the world. Bill if you think russian interference in the election via ads placed on a social media platform was bad ai could be , much worse. I am more in elons camp that we should be gravely concerned of the potential for misuse of a technology this important and powerful but also incredibly optimistic about the way it may transform society for the better. Emily what are the potentially very dangerous consequences . What do you see happening . All if you can create supercomputer to teach itself and outsmart people look at it in these terms. It would have been very difficult to predict five years ago that russia would try to interfere in an election to get someone like donald trump elected at that time based on , what we knew about that platform. To look forward five years or 10 years and think the same about ai whatever prediction we make will be incorrect. There will be some ways that technology is used that is unpredictable and probably negative in some ways. I am optimistic we will find the right way to deal with it. But there is reason to be , concerned. Emily you think there is potential for an ai apocalypse . Bill absolutely. Emily how so . Bill think about the power of a supercomputer that can teach its self and is smarter than anyone on the planet. Who controls that technology . Is it a private company, a government, our government, a different government . What if there are more than one . Or computers decide humans would make a nice pets . Or are not very helpful to their future . I do not think that is overstating it. Ts concern inarran conversation. Just as if we were developing the First Nuclear bomb, it can be used in positive ways and in terrible ways. Emily lets talk about uber. We have seen a lot of drama, travis is out. There is a new ceo. What do you make of the reckoning . Bill i dont think travis is ever out, he is maybe not ceo anymore. I would like to think that season one of uber has ended, i am waiting for the season two premiere. I think it will be a better series of episodes. I think very highly of the new ceo, dara. I am very optimistic they are trying to correct the things that were done wrong. Emily how much responsibility do investors bear for the problem getting out of control, or giving travis too much control . Bill i can only speak for myself. Whatever influence i had was not useful and was not heeded. Emily what kind of advice did you give . Bill giving advice implies that someone answered the phone. I think investors bear some responsibility, but we should hold those who took the actions to be responsible. You are a minority shareholder. You do not have control or a board seat. Did not really have a vote. You try to influence things as much as you can to go in the right direction. At the end of the day, the right thing happened and is happening and there is a reckoning. Hopefully things will be set straight. They have some things to fix. Emily bill maris. Thank you for stopping by. Amazon says its a Virtual Assistant technology is that the early stages and has a ways to go. The surprising length they are going to. This is bloomberg. Emily amazon tells us it would not rule out partnerships with major rivals if that means improving voiceactivated technology. I sat down with Vice President of alexa and echo devices, to talk about how she is focusing too better improve the Customer Experience. What are the challenges that remain to get more people to do this . What are the challenges you are most focused on . Toni i am most focused on trying to reduce friction for customers and drive toward Customer Experience. The idea there is that alexa is more humanlike. It is conversational. We can shorten the past from where the customer is starting in where they want to be with less and less work on their part. Emily is alexa going to be responding with uhhuh. Toni i joke that that will happen. Emily how much further can you go when it comes to understanding human language . An adult talking, or a child talking or are we there when it comes to how much improvement can be made . Toni we are not there. It is day one, super early stages. We like to say we are at the tipping of machine and point artificial intelligence. I think we will see a lot of improvement over the next few years. Emily how so . Toni the technology is there and having developers being able to feature a cloud and it allows for a lot of compute power. What is missing from alexa . Toni human conversational behavior. Alexa and the skills we have today are great at reducing friction and making the expanse Customer Experience more delightful. We still have a long ways to go to make it an even more robust experience. Emily you recently partnered with one of your biggest rivals, microsoft and cortana. What does a get with cortana that they might not get with alexa . Toni i am excited to see the launch. We see a world in which there will be multiple ais. You will have experts in certain domains and bring more data. It is kind of like the internet in a way. Customers will be able to search out experts in the space. And you can probably have a broad set of ai. Emily will we see you partnering with other rivals in december . Toni why not . Emily how do you make those calculations . Toni we are customerfocused. It has served us well. We are passionate about the customerfirst approach, and we work backwards from that. If we believe it will benefit customers and improve the experience, we will work towards it. Emily is the vision for alexa a center of a bunch of home devices or the home device . Toni we see alexa as being an ambient experience in the home. Customers can invoke this experience wherever they are. We also see that going outside of the home. We have announced partnerships with automobile manufacturers. It will be embedded in some of the cars, bmw is one of them. We have a partnership with the wynns. If youre traveling and checking into a hotel, you can experience alexa there. We see it going beyond the home. Emily you see Home Security as potentially an area of interest . Toni potentially. The auto space or hotel rooms. Emily amazon and alexa got a huge jump. Now the competitors are there. What are you doing to stay ahead . Is there anything you see your rivals doing that is impressive . Toni i am impressed with a lot of the innovation that is happening in the spaced. We are super focused on building for the customer. We think customers will win. Emily that is toni reid. Vice president of alexa and echo devices. Coming up, amazon not only taking over home with a alexa, but keeping its head in the cloud. Our exclusive interview with web services ceo on getting to the front of the market area market. This is bloomberg. Retail. Under pressure like never before. And its connected technology thats moving companies forward fast. Ecommerce. Real time inventory. Virtual changing rooms. Thats why retailers rely on comcast business to deliver consistent Network Speed across multiple locations. Every corporate office, warehouse and store near or far covered. Leaving every competitor, threat and challenge outmaneuvered. Comcast business outmaneuver. It is 11 29 a. M. In hong kong and 12 29 p. M. In singapore. The white house says it cannot car reduction payments to Insurance Companies under obamacare. It said the department of health has concluded there is no appropriation for the payment and that a court has agreed it makes it unlawful. President trump signed an executive order that could erode core parts of the Affordable Care act, after republicans in congress failed to repeal it. J. P. Morgan chase in citigroup picked up about Bank Earnings season, showing the effects of muted trading. Low volatility weighs on fixed income trading. And 60 at jpm, citi. Shares fell after they boosted reserves by the most in more than four years. The Trump Administration has body,nother world accusing the u. N. Cultural organization against of bias against israel. In 1945. S founded the state Department Says the decision to leave was not taken lightly. We provided 70 million a year back in 2011, when they accepted palestine as a full member. Global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. This is bloomberg. I am Sophie Kamaruddin with a check on the asian markets. This morning we had a chinese trade figures in dollar terms, imports rising 18 . At a. 1 . Added field to the chinese fuel rally, the large cap gauge rising for a ninth day, with health care leading the gains. Ground,ollar gaining 0. 2 , hanging on to the 78 h