The outbreak is far from over. Of june 15et a date for select employees to start returning to the office. Tesla also hitting new highs. , from wedbushcuss securities. What is driving this . Is this the right mark . Think fundamentally it continues to be china. If you look at some of the numbers coming out, make going into june and the second half of the year, we could see 100,000 deliveries. Side, given the profitability of the pentup demand, i could see tesla going higher, especially going into battery day later this month. Emily their reports about tesla workers testing positive for the coronavirus and fremont. That is of a risk is knowing that elon musk pushed for the plant to reopen . After the fremont standoff, especially around workers and health issues, that will be something people have to navigate. You are starting to see pentup demand. Especially in parts of asia. The big key here is what we are starting to see globally. Especially going into some of these new product launches. Lets talk about those. Obviously working on a truck. There is a company we have been following. How do you feel about the competition . There is a massive opportunity. Going after the stock market. Look at here in the u. S. We are talking about penetration. Right now tesla continues to be in a position to really own that market. Total market. That adds another 15 to the overall market opportunity. Thats why there is such a focus on this side look at preorders that will start to approach that number. Lets talk about apple preparing to officially announce putting its own chips and mac computers, launching the smack tradein program. There is a lot of demand for devices and computers right now. How does this affect your outlook . About this. Lk it is really one for the history books. On the chip side, more and more ownership of their devices. This is what i believe will be the next leg of this growth. Emily there are a lot of people around the world hurting. Unemployment is high. The demandis impact . Or thousand dollar plus phones that is very important. I believe now, when you start to look at these phones, which are gaining a lot of strength in china, that will be key right now. Some of the demand cuts will happen given the solid backdrop. It comes down to pure numbers. Million of the 950 million iphones worldwide have not upgraded their phones in 3. 5 years. Demand. A pentup that will be the next key for apple to monetize. Emily how high can apple get . I remember reporting when they were reaching 1 trillion. You are looking ahead to a 2 trillion market cap. And yet we are facing all of this uncertainty. Then you look at the next piece. There will be further monetization of that. A year or earlier into the 2 trillion market cap, apple stock continues to get rerouted. Investors are scratching their heads. Emily we will have you back to see if that comes true. What is your take . This is the tip of the iceberg. There has been a lot of pain. That is why you are seeing in vectors react to this. Emily always get to have you here on the show. Thank you so much for stopping by. Up, as humans have been sheltering in place, so have their pets. Withll speak to a company pet owners flocking to their site to flock shop to their furry friends. This is bloomberg. Peoplewith so many working from home, their pets are sheltering in ways as well. A surge in demand from pet parents. First Quarter Sales growing 44 . Joining us now is the ceo. Thank you so much for joining us. Obviously, im sure pets are going stir crazy. Just like the rest of us. What has the pandemic meant for demand and traffic on your site what are people buying good to be here. Nice to talk to. The pandemic is proving that pets in the category should be essential. Parents are flocking to the website to make sure they have essentials. We are also seeing the rapid rise in adoption and fostering. People have time and they crave companionship. There are more pets in the household. And more time to spend with those thats. We are proud to be serving so many owners. Emily you have launched a new campaign, pets bring us together, which is a good to roll some cute video. Which of these trends stay and which does not . What does the new normal look like . We roll that video together because we realize pet is an emotive category. We figured this was the time when everyone could use a little bit of positivity. We leaned then from that point of view. We are bullish on this. Now others in the space are siding those facts. It is an exciting time to be in this category. After you reported your results, the stock fit in the day dropping. . Hat you think is driving that i have never been one to speculate too much on stock price. This quarter was our First Quarter. We have been growing fast. They appreciate the way we are operating here. In a very large market. The market is growing up to 7 . We are out there creating this. A onestop pet shop. You do have a lot of competitors, amazon being one of them. Threat from amazon change as a result of the pandemic. We have a lot of people shopping for things they need and they might want to throw their pet food in the art while they are on amazon. Our mission is to be the most convenient destination for pet parents. In this category, which is highly emotive, customers can come to our website, we are a onestop shop. That effort and focus drives customers to our website. We engage you for long time. That has always been our playbook. We believe the mousetrap that we have in the way to engage with customers provides a powerful mechanism to deliver profitability. Emily i wanted to ask you about that new health care vertical. You launched it a couple of years ago. How is pet care being impacted by some of the trends we are seeing . Ecommerce, this option is accelerating. The pandemic will accelerate the trend such as telehealth or the utilization of technology and innovation in serving customers in a better manner. This could be that. We have the opportunity to connect pet parents and veterinarians and really provide a seamless interaction. Our so our sources suggest they do not take their pets to the vet at a regular time. This is another way of increasing that connection. We believe our company can step into the middle of it. And really understand the customer pinpoint. We are watching these trends closely. Emily what is your view on the supply chain, giving the disruptions we are seeing around the world . What does that mean for your products . Theave maintained that organization with the supply chain has the best shot at longevity. Our networks are fully synced. The ceo of chewy, thank you so much for joining us. Good to have you here. Grubhub getting a lot of attention at home and abroad as consolidation in the food Delivery Business continues to happen. This is bloomberg. Emily welcome back. Now has multiple interests and potential takeovers, not just from uber but from overseas. There is a bid to launch itself in the u. S. To become a major rival to uber. I want to bring in their director. That ubering reports is now no longer interested in grubhub. Followcontinuing to developments there. Huber had been in talks to take over grubhub. Interests from just eat, what is your take . A is as follows. From grubhubs vantage point, they would be better suited on uniting with uber. Them uber we give them some leverage on the lobbyists front that they would not get from just eat. It would be more beneficial. Talk to us about the broader restaurant landscape. You have some estimates that 25 of restaurant will never reopen as result of the pandemic. How does this play into these issues . That is an excellent observation. The Restaurant Industry right now is hurting terribly. Companiesy wellrun are going to have a challenge longterm in exploiting the Restaurant Industry. Because of these challenges. Maybe 25 of restaurants will close. These are very tough times for restaurants. Huber is continuing to expand its tentacles into delivery. They have Just Launched something called uber connect. It is a care package or a gift. They started with food. What you are seeing is that covid19 is basically creating a rollout ofaster these services. You are seeing that in the expansion of Online Grocery delivery. It is creating a more dynamic market. Covid19 has accelerated options. In many ways. To us about the global picture. You see a chance or other International FoodDelivery Services to into the u. S. . It is a great question. A lot of investors expect consolidation in the u. S. Market. The companies that are running that would have much better economic. Seen is a lot of large players in the u. S. Including grubhub and uber eats and doordash. This consolidation that many have expected is taking much longer. We will see more of a commission. Ap than necessary we know this is a cash burning business. You expect to see the dominoes start to fall . Who is the weakest player or the more ripe for a takeover . The argument can be made from a capitalization standpoint. Uber would be the strongest. Then you would have some distance to doordash. And postmates. Uber would be the strongest, most wellcapitalized. Emily a lot of movement in this phase. We will continue to follow it all. Thank you for stopping by. Coming up, where are we now in the quest for coronavirus drugs and vaccines . Some very exciting developments to tell you about. This is bloomberg. Emily welcome back to bloomberg technology. We have breaking news out of amazon. It is implementing a oneyear moratorium on the use of its facial with Ignition Technology by police. This technology has been very controversial over the last couple of years. Moratoriumsaid this will allow congress to develop the appropriate role. Amazon is ready to help. This in light of nationwide protests of police, Racial Injustice across the country. We know ibm announced yesterday it is getting out of facial recognition technology, given that the wide range of issues that surfaces. We will continue to follow this story, but a Significant Development amazon is putting this moratorium on police using their facial recognition technology. I want to talk about vaccine development. It has been half a year since the world first came to know covid19. It feels much longer than that. The u. S. Government is reportedly planning to fund and undertake phase three trials of three experimental vaccines this summer. This would mark the final stage of testing. Does that mean a vaccine will be available by the end of the year . To the mainstream public . Joining us is show cortez who covers health care. There is so much news happening about this everyday. Where are we right now . Are very fewre things when it comes to this virus we can say for sure. The question you posed is an easy answer. Will we have a widespread vaccine for the masses for the end of this year . There is no possible way we can get it to that point. The hope is we will start seeing positive news out of the pivotal trials that are starting this summer and perhaps some of the earlier trials so that by the end of the year, might be able to start protecting some of our most vulnerable adults. Emily dr. Fauci has sounded quite optimistic we would have multimillions of doses and that it might come sooner than we expect. How do we square those comments with the reality . Michelle right, well that is true. The federal government is working with the industry to basically smooth out it is like an olympic Curling Group that is happening. Just smoothing i for these different vaccines in development. There are about 120 different vaccines any development. Anywhere from 120 to over 200. If we can get there, we will. The issue is manufacturing. There just is not capacity. We already make a lot of vaccines for the world to treat everything from whooping cough, polio. There is not a lot of excess room to start cranking out billions of doses, which is what we are going to need. Even if everything goes smoothly, by the end of this year, we will know whether we are going to have a vaccine. To actually make it widely available to the people who want to, that is the thing people are not getting. We will know if it is going to work. We will does not be able to overlook our sleeves. Emily and on for a second. We have some breaking news from our earlier conversation. Just eats takeaway will buy grubhub in an all stock deal. The offer employing 75,000 . 15 a share. In assume this i assume this means uber may be out of contention. There had been reports uber is no longer interesting. We know uber was talking to grubhub for a long time. The European Food delivery just eats takeaway to buy grubhub in an all stock deal. We will continue to monitor these headlines. Michelle, obviously food delivery has been a lifeline for a lot of people as we have been continuing to shelter in place. There are still a lot of concerns about the virus and unknowns about how it is contracted. Just today, we had the World Health Organization trying to walk back comments about asymptomatic transmission. How do the continued unknowns about how the disease is transmitted impact the Vaccination Development process . Michelle that is a great question. The thing is is that if you do not know who is the most likely to pass the disease alone, and maybe you do not know which groups are in need of being vaccinated. We are seeing the early stages where the most highrisk people to be the ones in line to get vaccinated. Those are not the people you might think. Health care providers will not be the very first people because when you develop a vaccine that quickly, there are potential risks that come along with it. Because Healthy People are the ones who get vaccinated, you not want to do anything to somebody who is already healthy that might make them more harmed in the long run. That is possible with newly developed vaccines. Will be the people who are most vulnerable to covid19. People in Nursing Homes who have other conditions who are uniquely vulnerable to dying as opposed to Health Care Providers who are generally generally who generally healthier people. Who would maybe be able to survive the infection if they got it. It is that kind of uncertainty. We do not know who is passing it along. That talks about the case of our knowledge about this virus and how it is spreading throughout the world everyday. Is, when . Question . When can people, perhaps elderly people. Hi mom is probably watching right now. She does not have any underlying condition but wants to hold her grandchildren. A member of the general public who is now the front lines but needs to protect themselves. Absolutely. The thing for everyone to think about is this is going to be an individual risk benefit analysis. At what point do you want to get in line for this vaccine and when will it be available . I would say for someone like your mom who might be in a higher risk group, they might be closer to the beginning of getting access to a vaccine like this. For those people, certainly at this Time Next Year and maybe earlier in the First Quarter of 2021, we might see a vaccine rolling out. The intent is going to be to make sure we are closing down the transmission of the virus across the world. If we are seeing hotspots in certain areas, those are the places that might be getting the stop theines so we can transmission. The places he might think are going to get it might not get it as quickly. I would say for healthy, older people, we are thinking within the next year for sure. Emily ok. Thanks so much. I will relay all that to my mother. I am sure she will appreciate your analysis. Thank you so much for joining us. I do want to get back to this Just Eat Takeaway news. Just eat takeaway will buy grubhub in at all stock deal. Now that the ceo of grubhub will join the Just Eat Takeaway board, grubhub is expecting the deal to be completed in the First Quarter of next year. Mention thed possibility of some regulatory concerns. We will have to see if the government raises any issues here. Investors seem to be excited. Grubhub rising 7 after hours on the back of this deal thing announced. At this point, it seems like uber is out of the running. We know uber was in talks for months with grubhub about a 5 billion plus a deal that apparently is not happening. I suppose grubhub could potentially field some competing offers. We will continue to follow the story. Grubhub shares up 7 after hours. Just eat takeaway to buy the company in an all stock deal. Coming up, we are going to be talking about social Media Companies continuing to grapple with how to moderate content on their platforms and moderate conversations among their users. Nationwide protests across the country and the black lives Matter Movement splintering facebook groups. We will discuss next. This is bloomberg. Emily facebook is Encouraging Group administrators to consider adding people of color as moderators. Groups, which are essential to facebooks Business Strategy have struggled to facilitate conversations about race and the black lives Matter Movement as protests consider across protests continue across the state. Joining us is robertson professor of media studies at the university of virginia. He is also the author of antisocial media, how facebook disconnects us and undermines democracy. A small hint about your take on this. How do you think facebook in particular is handling the latest situation . Obviously, we have seen potentially positive discourse as these groups have allowed people to discuss these things. But groups exploding as well over differences in views. Which ae at a moment in Political Organization from all are moreew or enabled and empowered than ever. Facebook is perhaps the best we have had to find likeminded people and motivate them to take some sort of action. Peoplesee that when organize protest in the street right now. They are more often than not using facebook to find people to join them in rolling out their plans on facebook. It is extremely easy. Facebook worked the same way with the womens march in early 2017. It has worked for groups left and right over the years. Facebook is an amazing