On top chinese officials for now. Joining us to break down the day that was, abigail doolittle. She has been following all the market action. Curious what you make of the whiplash today and why investors were not more optimistic about the vaccine news. Abigail another volatile day. Today, a bit jittery. There was a point in time where it felt like you were going to see a bearish reversal. It did happen for the nasdaq 100 and the new york faang index. The tech stocks and stayed home stocks did go lower. At the beginning of the day as you were mentioning, we had the surge and optimism around the moderna vaccine, that perhaps it is going to be the cureall and could come earlier. But, that is far off. When you put that together with the fact that the dollar and this is boring in a way because the dollar has been one of the big drivers for stocks and raise gaskets risk assets. The overnight, the dollar had been down 6 10 of 1 . On the open, down have a percent. When the dollar paired its losses on the day, that is when stocks got choppy. It is a technical nuance that is creating some of this jittery action on top of the fundamentals and the stories we have that seem more obvious but are perhaps less of an influence and this point. Shareswe saw twitter fall sharply after hours. We are following what appears to be a hack of some major accounts including elon musk, bill gates. It appears to be tied to some sort of crypto scam. Twitter shares have stabilized. We are about to kick off another season of tech earnings with netflix out of the gate tomorrow. What are we expecting . Abigail this is pretty interesting because the stock has been rattled recently. Investors are a little bit nervous. What we are looking for, the revenue and earnings. You hope they meet the numbers. The bigger number is the subscriber adds. His first 7. 5f million is for 7. 5 million. They need to add 10 million subscribers. The june quarter is the quarter where if they left, it is the june quarter. Lots of dislocations. That is true even more so this year. It is going to be interesting to see what they do put up. 30, apple will be reporting. That stock up 30 since his last report. Will be interesting to see if they can match the numbers. Yearoveryear declines expected. Emily we are going to be all over that one. Thank you so much. Staying with apple, the tech giant won its court fight over a record 14. 9 billion irish tax bill in question blow to the European Union. The competition commissioner has crime down on preferential tax treatment for various large corporations. The ruling indicates irelands position on the issue. We spoke with the irish finance minister today. Clearland has been very over many years that we do not make special tax agreements with any company, the small company, big, small and all taxpayers are treated equally. We value the relationship we have with companies such as apple. We do not do special deals for them. This ruling here today is a recognition of the. Of that. Emily joining us to discuss, our own mark gurman. What does this ruling mean for apple in the context of the other antitrust issues it is fighting around the world . Mark these are two separate issues. If anything, you could say it is clear apple has been making effective cases, their legal team has been making effective arguments to different government organizations around the world. Perhaps that expertise can play into the upcoming antitrust situation. For apple, this is 15 billion in savings in 2016. The European Commission road apple would have to pay those taxes, those back taxes. Now, that is a big chunk of money. That is a third or fourth of quarterly revenue. That is a good savings for them right there. Emily a huge chunk of money even for a company as cashrich as apple. How does this play into some of the broader battles apple is fighting . In the European Union but also in two weeks, we have this big antitrust hearing on capitol hill. Mark the antitrust hearing on capitol hill is going to be very interesting for apple. We will get to see tim cook speak virtually on a bunch of antitrust matters. For apple, it is pinned to the app store. Lots of small and Big Developers are making the argument that apple cannot run the store but also have competitors on the store, which they take a 30 cut or as low as a 15 cut from. Will be interesting to see apples argument. For a long time, they have been saying there is no issue with them doing that. It is like a Grocery Store running the store but selling their own items. There is apples argument that there are lots of Developers Making the case. It does not appear apple is going to be in big trouble as of yet. The government is clearly focused on google. It will be interesting to see cooks comments. Emily meantime, we have Apple Earnings coming up. You have been closely following all of the news about store closures. Them sending retail employees back to work from home. What is the latest on apples operations and how that is going to impact what we see in this quarter . Mark this particular quarter, apple has said it is not going to be great. The apple watch in addition to the iphone, you are going to see a 2 billion yearoveryear decrease because of the situation right now. In previous quarter, they got a full month of normal operations and normal sales in the u. S. They got a fourmonth of china. By the time the u. S. Started to close in march, they were already reopened in china. A lot of that was offset. In the end, it was not as bad as some have anticipated. This quarter, they are missing a bunch of u. S. Bails, which is one of their bigger markets. You have seen the closures in europe as well. They will be interesting to see if this is going to be a bigger yearoveryear decline. It is going to be a big week for apple, the last week of july. Emily a big week for us covering it. Thank you so much for giving us that update. Coming up, a new partnership. And, chasing tesla. The electric car maker is busy. The founder and ceo of fisker. G. Is is bloomberg sh emily in an otherwise lackluster economy, stocks like tesla and nikola have surged as of late with some investors warning of a speculative bubble. Fray. Will soon enter the the ceo says the company is on course with brand development. We talked to henrik fester. Your company of bills it self as the most sustainable vehicle. How do you differentiate from tesla . Henrik i think you just said it. One thing is we are aiming to build the worldss most sustainable vehicles. Also to sell our vehicle through an all good sale model. We have created a unique flexible lease where you can lease our vehicle and give it back any time whether it is after a month, two months, a year, whatever you want. We have set up preparing for the consumer of the future. Our vehicles are more affordable than any of our premium competitors. That is due to our unique Business Model. We outsource manufacturing. We have a unique developing process that lowers the cost of vehicles. Emily lets talk about that Business Model. You are not reinventing the wheel. You are not putting from scratch. You are building through partnerships. You did tell investors you are in talks with volkswagen to use some of their technology. What happens if you do not secure that deal or any deal to get the parts you need . Carmakeroday, every needs to buy things from suppliers. Nobody makes their own batteries. Tesla is using panasonic batteries. They did not invent those. We are getting to a point in the electrification where it is not about trying to invent something new. It is about getting the pricing of what we have down so we can be competitive with gasoline vehicles and we can make Profit Margins on the vehicles. Anil people are offered vehicle that is comparative, they are not going to buy in bulk. Where the first to offer an electric vehicle that is better priced to a similar gasoline vehicle. Aat is a good price for premium suv. We are inventing quite a lot of things in the vehicle but not necessarily things we think are commodities. I do not think anyone cares who makes your electric motor. They carry about they care about how we treat them as customers. They care about exciting features like our california mode with all of the windows rolled down. There a lot of things you are creating like the software in the vehicle itself. Emily tesla has promised an Affordable Electric car for years. Even the model three is out of range for a lot of people. They have been making cars. They have been at this for years. What makes you so confident you can deliver this by 2022 . Henrik that is because we are using partners. If we make it on the vw platform, that means we have an extremely reliable platform that we are competitive with. It is going to be made in the millions, which nobody makes electric vehicles in the millions right now. We get low pricing. Then we spend the money on design and quality materials and interior. We do not spend money on setting up our own dealerships or building a factory for billions of dollars. We are a kind of the uber of the automotive industry. We do everything digitally. It saves a ton of money and gives people an affordable vehicle even though it is a premium, luxury vehicle. Emily you did Just Announced plans to go public thrice special through a specialpurpose acquisition. It is timely given the surge in tesla shares. You range more than a billion dollars in the rivers merger in the reverse merger. Why do you need a billion dollars . What would you use that money for . Henrik used on need to turn up all the parts we are doing you still need to tune up all the parts. You have to tuneup all of that. That is hundreds of millions of dollars. We own all of the tools in the factory. We have to build out our digital app, which we are building right now. We are setting up experience enters any of u. S. And europe. We are opening up the first in los angeles. That also means investments. That are a lot of areas we have to spend money in. We are still developing a car. Even though you have the base platform, that is only 20 of the vehicle. The most difficult part of the vehicle is the skateboard with the craft structure. If you can get the best of the best, why not use it . It is already done in other industries. With computers where you use similar chips with similar computers. In the television industry, youre using the same screens between different brands. That is the only way youre going to get cost down. Emily speaking about the numbers, you said you will secure doubledigit margins and positive cash flow on the ocean electric suv you are developing within 12 months of production. You have a company like tesla, which has been chasing profitability for years very inconsistently. How youre going to do that . Henrik we are taking a completely different approach. We are not a vertically integrated company. We did not build down dealerships. That is really why the investors are attracted to our Business Model. It is a Business Model that is set up to make money. Much higher Profit Margins. You can only do that if you turn this Business Model upside down. We have moved away from this traditional high industry model. Instead of going around they are moving into the future. That is why we are creating a digital car company. We do not need all this overhead. We do not need all the middlemen. We have seen from covid19, you did not even need ill or ships. You can shift cars directly to customers. This means that are Profit Margins for us. It means lower prices for the consumer. Emily you also know how hard this is. You have been out it long time. Their last electrical vehicle start up did not work out your last electrical vehicle start up did not work out. There were some lawsuits. What you tell investors to tell them this will be different . Henrik all of the other startups do not have those lessons learned. Procurement do this parts which are common parts, which is not a different shade from the vehicle. They are high quality parts. They know what they are doing. They make the highest quality parts in the world. I do not think anyone would ask why we do not make our own airconditioner. It has a high volume for great pricing. Manufacturing a car is extremely difficult. We can see that. Title has gone through self production tesla has gone through self production. We do not want to we are going into a plan with an educated production vehicles, a plant that is already equipped. We have to put our tools into the investment. We do not take the manufacturing risk. That is the big difference. Emily were in the middle of a pandemic. People are working from home. People are not commuting to work. What is your outlook on the future of transportation . Are people going to be buying cars anymore . Talk to me about private car ownership versus ridesharing versus scooters. Henrik first of all, i do think people still like the private car. The question is, are they going to be buying it . They are negative about the leases. I think our flexible lease what you can give it back any time, we are also planning a car swapping or green ridehailing through this app. Clearly, people want a different interaction with their vehicle. I also people i think people do not like getting the car serviced. They are going to deliver the card home. Us we cans has taught do a lot more online over and out. I think that will change. People want emotional design. Bring that design into an affordable premium space. I think the cars today need to be a lot more exciting and emotional if you want people to buy them. That is what fisker is all about. Emily i know there a lot of people looking for a more Affordable Electric car alternative. Will be watching to see how you make it happen. The ceo and founder of fisker. Thank you for taking the time to join eyes. Moving onto another form of transportation. Scooters. Line is reporting new data that shows a shift in transportation trends. Essays as people start to move around more post lockdown. I caught up with wayne ting earlier today. Relaunched in 20 countries. We are seeing a surge of ridership around the world. Many of our markets are hitting new records. Not only that, we are seeing different behaviors. Are trips are longer. There 30 longer. People are taking they are 30 longer. People are taking scooters and bikes end to end. We are seeing different places where they will be more common. We see a lot more trips in downtown financial district. Now, we are seeing more trips in neighborhoods where people live. All of these things are underlying data that shows there is a big shift from other modes of transportation to microability. Emily we are seeing cases Research Across the country. Schools are saying they are not going to reopen in the fall, it means people are going to keep working from home. Does that increase the demand for scooters . Wayne we are seeing Different Cases. There are some cases that have not come back. Tourism has not come back. Commute is not fully back. We are seeing people are leaving their homes. They are going to groceries. Peoplef our trips are visiting local businesses. If you are worried about safety, we are in open air, single passenger mode of transportation. It is sustainable and affordable. It has allowed more people to use Different Cases they did not perhaps think about before. We are seeing the trend come back. Not exactly the same use case, but we think this will continue re is a second wave of covid. Emily some Small Businesses were hanging on. Now that we are seeing this second wave, they might not be able to stay in business. How does that change the game for you . Wayne one of the things we are investing time in as partnering with local in is partnering with local businesses. We are reaching out to local partners so we are reminding our partners that they can use lime to visit businesses. We did a survey of our consumers. Two thirds say day today, they are using lime to visit local businesses. I am hopeful that even if there is a resurgence, we are going to be able to whether this along with our Small Business partners. Emily new york city just legalized he scooters scooters. E what does that mean . Wayne i think it is a huge opportunity. These are places we are talking about maybe 2021, 2022 before. Covid has made these cities safe and they ensure affordable transportation options. We are getting record ridership in places hardest hit by covid. Korea, italy. Is placeshe reason that have really felt the negative effects of covid19, they are thinking harder about, how do i move around while observing social distancing . When we look at new york city, micro mobility is necessary. It is such a critical part of how the city can reopen safely. We are excited to partner with the city. Emily earlier in the crisis, i know things were tough for you. You had to shut down in various cities. More recently, you acquired ubers jump. You got investment from them. How does that change the game for you . Does it mean no more layoffs for sure, even if things continue to go in the direction they are going . Wayne we do not expect any layoffs forthcoming. What we are seeing is ridership surging. We are seeing ridership surging around the world. There is a lot of uncertainty coming up. We were on a path to profitability in 2020. Of course, covid pushed that back several months. I expect with the new revenue coming back and dramatic improvements to our internal cost control, we are expecting to be profitable by 2021. I have no expectations we will have layoffs. If anything, will be investing more into our business the next year. Ting, the ceo of lime. Coming up, without adequate internet access, no use of children could be left behind as more schools decide to go online only. Im going to speak to the ceo of jomini of Common Sense Media. Coming up. E back. Welcom twitter shares following twitter shares following after hours after the parent hag of many profile accounts including elon musk and jeff bezos. Out close to identical tweets with an address linked to an apparent bitcoins camp. Both to its promised to double the money to anyone sending money through bitcoin. Tweets. Apples hacked ass account well as well as Mike Bloomberg, the founder of the parent of any of this network. Twitter says it is investigating. We will continue to see how this develops. Some of the accounts, it appears the tweets have been taken down. Some of the tweets are still up. We will continue to follo