The pandemic. Attacks and interruptions. That is what most of the audience remembers from the first president ial debate between President Trump and Vice President joe biden. Now the commission on president ial debates is calling for a new format. Senator blackburn will be my guest. Stocks finishing higher on hopes of a new stimulus bill, but it was a choppy day. Abigail doolittle joins us from new york. Walk us through the ups and downs. Abigail certainly fitting it was a choppy day because it was a choppy quarter. And following the pattern we have seen over the last few months. Redad the premarket in the after that debate, the chaos, investors not liking it. The s p 500, up more than 1. 5 . Afternoon news that a stimulus agreement had not been reached, stocks really nosedived, not into the red, but the s p 500 only up about 3 10 of 1 . Day, windowf the dressing to the third quarter, it was the mega cap stocks that did save the day. Apple and microsoft, both up about 1. 5 , again not on any change in fundamental news, but technical buying and technical selling we have seen in the month of september. Speaking of, it has been the worst month since march, lots of volatility. Up 8. 5 percent, another big quarter. The nasdaq, up 12. 4 . Mostng that nasdaq 100 the beyond apple and microsoft, tesla and amazon. In theup nearly 100 quarter, also with all the volatility weve seen recently. Stopurse, there was that that got put into drive the stock higher. It was a quarter to remember for the bulls. Emily tesla on a run, that is for sure. I want to talk about these direct listings we saw today, both sharesasana rising. If you look at palantir, not fetching what it got on the private markets five years ago. Walk us through what you are watching. Abigail thats an interesting point to watch. In terms of this years massive rush to go public, the ipo market, set to make a record, you have to ask why. Is it because the fundamentals are healthy, or are bankers pushing these companies to go public while they can . Its allowing private investors to cash in. They made the decision to cash in despite the fact the valuation was less than it wouldve been a couple years ago. Up 31 on the first day, not so shabby. That is the story of the year. Again, this is the year of the ipo and going public. If we take a look at two of the other direct listings, spotify in 2018, slack last year, you see both of those stocks doing quite well, and snowflake, the recent technology ipo, still up 110 . Up 68 . Ftware, the question is whether or not this is a push to use this window to cash in, to go public, to trade on the public market, or is it because the fundamentals are so healthy . Hopefully, it is some blend of both, leading towards the latter. Going to talk more about palantir later in this show. Erik schatzker spoke with the cofounder of Palantir Joe Lonsdale. I want to ask you about what is going to happen the rest of the week because we are waiting for that jobs report, which will be the last jobs report before the election, and i know investors have a lot of their sentiment riding on that. Abigail abigail that will be a big one. You want to make sure the jobs situation isnt falling off a cliff. Unfortunately just today and yesterday, receiving news from companies of layoffs, disney yesterday, Goldman Sachs today, but the idea there is you had the first wave of layoffs, some folks expecting there would be a third second or third wave of layoffs. Is that beginning now . It wont reflect in the jobs report we are awaiting friday, but folks are going to be paying attention to see whether or not those numbers hit the mark and whether or not october, if they can come out of the rut of september that we saw. Emily that is something we are definitely going to be following. Bloombergs abigail doolittle, thank you for that update. Force. Com, the sale product, aimed at solutions for pandemic problems is diving into vaccine management, unveiling a new software to help Health Care Companies and hospitals manage what could be the largest vaccination push in Human History. With us is salesforce president bret taylor. Good to have you back here on the show. As i understand it, this software will help companies distribute and track and schedule appointments on a massive scale. How does this for vaccines actually work . Bret its great to see you again, emily. Sitting here with air pods on in my house, nothing could be more symbolic of 2020. We have had a singular focus at salesforce. To navigatese this through the pandemic . We launched work. Com, which is helping businesses and communities like the state of rhode island reopen, and now work. Com for vaccines, this is the largest max Vaccination Campaign in Human History, and the logistical magnitude is unprecedented. We are talking about hundreds of millions or billions of vaccines distributed in a short period of time. Its a great privilege to bring our platform to bear to help in that process. This is something we have never attempted on a scale this large. What do you imagine the vaccination process would look work. Com . Ut how will this improve what will certainly be a huge logistical challenge . You think about the logistical complexity of distributing a vaccine at the scale, it is everything from clinical scheduling, clinical vaccine administration, monitoring patient outcomes, monitoring boosters for patients, and to really get to the other side of this pandemic, which is going to take longer than any of us hoped for. Obviously, this is unprecedented in Human History, but thanks to the power of technology, we think we can distribute this more effectively than we could have at any point in Human History before this. Emily weve got a bunch of terminal users watching, one of them asking the question how will you guarantee privacy in this endeavor . Youve got people concerned about their data in the age of technology, and you have more people seeking out this vaccine. Bret its a great question. Broadly, which we have been using to help with contact tracing, Emergency Response management, so many questions we as employers and as a society have never asked before are more relevant than ever before. Fundamentally come every company, every state, every country is going to deal with this differently. Our priority is, how can we bring our platform to bear to meet the needs of all of those individual stakeholders . The companies you have spoken about on this show, their reopening is different depending on their industry. We think this will be the same with a vaccine administration, and we are trying to make a platform that is flexible to accommodate whatever experts deem as the most effective way to distribute to their communities. Emily your Ceo Marc Benioff announced that salesforce is going to be hiring thousands in the next few years. Where will they be hired . What will they be working on . Will they be in the office or remote . Themes we seehe at salesforce is every executive we talked to now is coming to grips with the fact that this when this pandemic is over, the way we engage as employees and with our customers, we arent going to snap back to the way things were. If you want to know what the future looks like, its going to look the way it does now. With retail doing buy online, covid hasckup accelerated many of these trends. When we think about hiring, we think about, how do we manage our platform so that every single one of our customers can accelerate in this alldigital, work anywhere world . Change ine big sentiment ive seen over the last few months. Ceos, rather than saying, when this is done, this is what im going to do they are coming to grips with the fact that this is the new normal, and they need to transfer themselves transform themselves. Emily you are once the cto of facebook, and weve talked over the years about how the company has evolved. You were credited with creating the like button, but it seems like dislike for facebook is at an alltime high. What do you think . Do you think facebook at 3 billion people across all of its platforms is too big to govern itself . Is it doing more harm than good today . Bret i remember my parents talking about when the Television First showed up in their living room and forming the social norms around that, and over the past decade as social media has gone from popular to ubiquitous, we as a society are still grappling with the impact of that, the role of the media, the role of individuals, how did determine exaggerations from falsities to truth. This is possibly one of the most important conversations we are having as a society. I dont think the answers are simple. Social media has done so much amazing good for society, giving people a voice that previously didnt have it, but with all of these technologies, we cant assume that technologies always do good. One of our responsibilities is to ensure we are taking into account the full scope of the technologies we create, which is why this conversation is so important. Im happy that we as a society are having these hard discussions. I am grateful for the technology that is helping bring you to us live today with your air pods from your home. Thanks so much. Coming up, we will get perspective from a palantir investor about the Companies Trading debut with the stock closing below its private market valuation from 2015. This is bloomberg. Emily we have been talking about palantirs highly anticipated direct listing. It has happened. We are joined by an investor in palantir. Thank you for joining us. Is palantir got out of the gate, but its market cap today is below what it was on the private markets five years ago. Was the direct listing the right call . Yes. The direct listing was the right way to go. This was a very successful theing, good debut on public market. It came out at 13. 9 times a sales on a diluted basis and 10. 5 times on basic shares. I think it is valued well, and it closed in line with what spotify and slack did. Its a Success Story all around. Cofounder of Palantir Joe Lonsdale joined my colleague Erik Schatzker earlier today, and he was asked of the question, how could it be worth less than it was five years ago . Take a listen to what joe lawn still had to say. Joe five years ago in Silicon Valley, you had money pouring in from china. We go through these things in Silicon Valley where things are overvalued. Today, i think its a great buy where it is now. Emily how does that make you feel about your investment . Santosh we know joe very well. 20 billion was really an outlier. A like he said, closer to 10 billion was right. Owners since very early, so our cost price is way low compared to what you are seeing now. We are fine with that. Overall, i think the big point is palantir has come together very well in the last two years based on their foundry problem product line getting good traction, and they have a good sales pipeline. They are executing very well, so i think that is what the big story should be. This is a good starting point out the gate. They just need to start executing, which i think they will considering their run rate at this point. Emily what about profitability . They are still not profitable. It has been 17 years. How important is that . Karp saidike the ceo this afternoon on cnbc, they have been investing. They put money up front. It takes a while to do something. They are almost five years ahead of the market, so this is heavy upfront investment. In the last few years, the needs lessduct line handholding, moves faster. The revenue recognition is faster. In europe already, foundry was driving profitability, so overall, i think they are very close. They have a line of sight to profitability. Revenue is growing really well. Its the closest to plug and play, foundry is. People, customers came back. There is a high level of stickiness in this product because they go deep into their enterprises, map out everything, deep data mining, which is what we need at this point. They are in the right spot. They are on the right side of the market. All they have to do now is get it together in terms of execution, which they are. They have cut costs quite a bit. Only last year, they beefed up their salesforce. Things are moving in the right direction. No reason to doubt their success down the road. Of course, execution is what we need. They are set up well out of the gate. Them we will be tracking as well. Thanks so much for joining us. Coming up, google showcasing a handful of new products ahead of the Holiday Shopping season with upgrades to its smartphones and nest devices. Bloomberg tuned into the event, and we will bring you the highlights next. This is bloomberg. Google launched a new range of pixel smartphones, a nest Smart Speaker, and more at a Virtual Event today along with an updated chromecast device. Tuning in was mark gurman who covers Consumer Technology for us. Lets start with the phones. Google has had trouble getting the pixel phones to take off. Will these be different . Mark thats a good question. Abandonedall but their rivalry with apple at the high end. Right now, they are launching a midtier device. Their most expensive phone is now 6. 99 most expensive phone is 699. They are going all in on that middleoftheroad phone, and that is apparent in the specs and features. Nest what about the speaker . Obviously, there are so many options out there. We saw every kind of echo under the sun. Apple, sonos, so Many Companies have offerings. Why buying nest . Mark based on the specs they are touting for the woo for and the different sound components combined with that price point of 99, it looks like a pretty good deal. And are half the sonos one one third of the price of apples home pod, which as we inferior at the price point. Withnk their integration smart home appliances, Google Assistant is a very attractive offering, and their ability to stream of course, they own youtube and spotify and other platforms, and that makes it a better Smart Speaker on the market. I would lean towards that new echo, but we have to try them out before coming to a final conclusion. Emily would you use your money to buy a chromecast with the other options out there . Chromecast, the price is great. It is 50. We have seen lots of people buying pretty much all of them. You can see someone who would have an apple tv plus a chromecast, plus a Fire Tv Stick , and they want to connect them all. With a Smart Speaker, you are probably only going to want to buy one brand. The upgrade they have on google tv, the new operating system replacing android tv, looks pretty impressive. It makes buying the apple tv given that you can get the apple content on other platforms a bit. F a harder sell apple has a lot of work to do in the home. Emily weve got about 30 seconds left. We are waiting for new iphones to be unveiled, as you reported, in october. What are your expectations . Mark i think these phones are going to be a smash hit. They are going to do everything, faster processors, better cameras, but most importantly, they are doing new screen sizing and pricing. They are going to appeal to a lot more people. Emily bloombergs mark gurman, we will be waiting for more reporting on that. Being up, we are going to hearing from tennessee senator Marsha Blackburn. Her thoughts regarding last nights president ial debate. Should changes to the format be made . Plus, her push on big tech regulation. That is next. This is bloomberg. Welcome back to bloomberg technology. Lets just say not every candidate followed the rules and last nights president of debate. After 90 minutes filled with attacks and interruptions, the commission on president ial debates says changes need to be made, releasing a statement, last nights debate made clear additional structure should be added to the format to ensure more orderly discussions of the issues. They will be carefully considering the changes will adopt and announce the measures shortly. With us now from the Senate Building in washington is tennessee senator Marsha Blackburn. Thank you so much for joining us. Good to have you back on the show. The president has pushed back on these changes to the debate format. What do you make of that . Isnt a more civil discussion without interruption best way to serve the American People . Sen. Blackburn i always prefer a civil discussion, but i think what we have to realize is stageent trump was on the last night and at times it seemed that he was having to push back against Vice President biden and also chris wallace. Think would be helpful would be an understanding that if they are going to make that two minute statement, they get that time. Supposedly everything had been agreed to in advance. Much of thewas too moderator and not enough discussion back and forth. I have to tell you, talking to tennesseans today, they wanted to see the moderator out of the way and just let biden and trump ask each other the questions and have a discussion. And if they argued, let them argue. But let the American People hear them give a complete answer, and not get most of the way through an answer, then they are cut off, or then the topic changes. They would like a more freeflowing exchange. And President Trump has such a tremendous record on the economy. And there was a lot more he could have talked about on the economy. Vice President Biden never clarified his remarks around packing. He never clarified his remarks around the rioting and the anarchy that is in some of the cities. Around defunding the police. So, there were a lot of things and there was confusion that the Vice President had on stats. And he would stumble a little bit there. So, its fair to say, should the president just talk more . Just talk and see if you can finally work yourself around to answer. Emily now, the presid