First, to our lead, President Trump has announced the United States will withdraw from the paris climate pact, and that he will seek to renegotiate the International Agreement in a way that treats American Workers better. Pres. Trump i am willing to immediately work with Democratic Leaders to either negotiate our way back into paris under the terms that are fair to the United States and its workers, or to negotiate a new deal that protects our country and its taxpayers. Emily the Tech Industry has already responded to trumps announcement. Tesla ceo elon musk announcing his departure from the president s council with a tweet saying, i am departing the president ial council. Climate change is real. Leaving paris is not good for america or the world. We spoke to Colleen Regan from the Bloomberg Energy finance team and David Kirkpatrick about the impact of this decision. David the gap between President Trump and Silicon Valley is a grand canyon at this point, but i think what is more interesting to me is the question of how committed business has become, not just Silicon Valley, but most big businesses in the United States towards Climate Change remediation. The issue of whether Climate Change is happening or not is not really controversial among most business leaders. It is accepted as much of your reporting has already suggested. And so you know, clearly, a lot of progress is going to still be possible even without the u. S. In the paris agreement, despite the fact that everyone agrees it is a stupid, stupid thing to pull us out. Emily lets talk about this, colleen. How are Tech Companies and broader u. S. Businesses actually going to respond, in action rather than words . Colleen great question, emily. So we have already seen action out of Silicon Valley from these Tech Companies. If you look at just what is called the tech amiche, amazon, google, microsoft, they got together in defense of the Clean Power Plan in 2016, and we have seen them repeat that Climate Change in their view is one of the most significant issues facing our generation globally, and they are actually putting action behind these words. So they have set, all four of these companies which represent 2. 5 trillion of market cap, have all set 100 Renewable Energy goals. They want to source all electricity from Renewable Energy globally. And in fact google came out on record saying they are going to hit that target in 2017. We saw amazon be the number one procurer of clean energy in 2016 in the United States, and apple is even signing deals for wind farms in china for clean energy for their suppliers. They are very much behind this. And is not just words. They are really taking action. Emily china meantime has reiterated their support for the paris agreement. I wanted to take a look at the bloomberg. We have a map of the solar plants across the country. The green shows plants that are already in operation. The yellow shows plants that are planned. How does this map change in five years as a result of this, or does it . Colleen thats a great question. In some ways, i think you would expect to see that green appears even more heavily in those states in which solar is already very concentrated. We are seeing, it is important to talk about what is going on on a federal level, but equally important in the u. S. To be thinking about what is happening on the state level, too. Just yesterday, the Californian Senate passed a bill to get 100 Renewable Energy by 2045. That still needs to make its way through the assembly, but there is absolutely activity going on at state level that will continue to drive wind and solar build. At the same time, we have seen costs fall dramatically, which means it is becoming more economic to install solar in more areas of the country. So just from 2008 to 2016, we saw the cost of pv modules, only part of the panel, but the cost of pv modules fall by 90 . This is helping more states to actually invest in solar as well. Emily now, david, you know, President Trump is saying hes trying to protect american jobs. On the other hand, there are concerns about jobs in clean tech, jobs in new energy. Are we ceding this potential big Market Opportunity to other countries like china . David absolutely. I mean, i think it is widely believed particularly among people who have a sort of future centric view which one would hope is most business people, but there is a massive longterm Business Opportunity in remediating Climate Change. It is also like i was thinking before. If you think about what world war ii or what wars due to motivate a company or country to really gather all its Energy Together and make rapid progress or look at what the depression did to create the wpa and all the infrastructure that we created. Facing a crisis can be one of the most motivating things in the economy, and it is happening in china right now. That they look at it that way, and they are really, really aggressively moving forward on Remediation Technologies across the board, with solar being a leading example. I want to just quickly point to another thing that is really relevant to the connection between tech and industry and this decision. In most states where they operate, Tech Companies are the number one power consumers, because Cloud Centers are such a gigantic consumer of power. There was an article not long ago about even in west virginia, the coal state, the utility there is now shutting down coal plants and putting in more renewables, partly because microsoft and other companies are their biggest customers, and they are saying, we want renewable power. Emily that was Colleen Regan of Bloomberg NewEnergy Finance and David Kirkpatrick. Coming up, another wild week for uber. The startup fired the star engineer at the center of its bitter dispute with waymo. The head of finance steps away from the firm. And the electric car market has been growing in fits and starts for years. But could the chevy bolt be the Tipping Point for the industry . We will hear from one analyst literally who ripped up the car to find out. This is bloomberg. Emily amazon crossed a major milestone this week. The stock traded above 1000 a share briefly for the First Time Ever on tuesday and has since hovered just below that price. The company has been wooing investors with dominance in online commerce and cloud computing. The stock is up almost 40 from a year ago, outpacing the broader market. Meantime, some frazzled parents might get cash back from amazon. The tech giant will refund customers whose children made unauthorized mobile App Purchases between 2011 and 2016. The federal trade commission ruled that amazon made it too easy for children to make purchases on mobile games. The ftcs decision ends a threeyear legal battle. The refund amount could top 70 million. It was another eventful week for uber. The Company Announced its revenue increased 3. 4 billion in the first quarter, despite thousands of people deleting the ride hailing app from their phones. They also said that head of finance will leave to take a position at another startup. But the most explosive development the week was the sacking of Anthony Levandowski, the former head of its self driving car efforts. He is also the man at the center of the battle between uber and alphabetss driverless car unit, waymo. Remember, levandowski was recruited by uber after a long stint at google. Waymo sued uber earlier this year, alleging that levandowski stole patents for the development of self driving technology, then used them at uber. Levandowski invoked his fifth amendment right not to testify, which has made it more difficult for uber to defend itself. We spoke about this with our bloomberg tech mark bergen and our bloomberg tech Senior Executive editor brad stone. Mark this is really about 14,000 files, files that were allegedly and surreptitiously downloaded by Anthony Levandowski from waymo. Judge William Alsop said levandowski had to turn over those files. Uber told its employee levandowski he had to turn over the files and he declined to comply, perhaps because something about them was incriminating. So you know, it is interesting, it turns what has really been a twoparty case into almost a three party case right now. We now have waymo versus uber and Anthony Levandowski now off on his own. Emily how does this impact the case . Does this hurt ubers case or help waymos case . Brad its hard to say. They are waiting for whether or not this will set the criteria the judge has set up for the injunction. The judge could say, uber, you fired levandowski. We dont have any evidence. He said previously that waymos case was strong, but he said there was no smoking gun. So it seems like ubers lawyers probably know what they are doing. This might be good for them, but right now it is really unclear. Emily and is there any chance levandowski could be personally prosecuted here . Mark i do think there is a criminal case proceeding. He also has a prior case waymo filed against him prior to the february lawsuit against uber. He has hired his own lawyers after that lawsuit. They are criminal defense lawyers, so that is a likelihood as well. Emily now brad, levandowski argues he has been forced to choose between his job and his constitutional rights. Does he have an argument there . Brad i am not a legal expert, but you know, but perhaps. Emily ubers driverless car future, what does this mean . They have already taken him off as head of the unit. Did they really need him . Brad there is a deep bench of talent. You have eric may offer who is now replacing him as the head of the driverless division. He came from carnegie mellon. They hired other folks. They have the man from the university of toronto started the ai lab in toronto for uber. You know, the risk is the optics of this look so bad that it is going to be increasingly difficult for uber to hire folks, and of course talent is the name of the game right now. Emily there is a public trial on track for october. What is next here . Mark i do think to brads point, self driving cars are not necessarily on the road tomorrow. Experts say they are years, if not decades, away. So there is a chance that uber might turn more into a partnership model. We see it is partnered with a few carmakers, they might try to reach out to more carmakers, something that lyft has done, and lyft is also in talks with waymo on a partnership. For this case, we will see a lot of Movement Later this week. Uber also has the massive investigation into their harassment issues. Maybe this is a way to put this on the back burner and deal with a lot of other cultural issues facing the company. Brad yeah, let me just have one thing. There is always the possibility these companies settle. Google is an investor in uber. There are reasons for them to work together. It does appear from a distance that this case has been about the founders of alphabet, larry page and sergey brin, with a personal vendetta against one of their former employees, Anthony Levandowski. So now that he has separation from uber, perhaps it is the beginning of uber and google, you know, coming back to the side of being allies versus adversaries. Emily interesting. The uber ceo got some sad news of the weekend. His mother, bonnie, was killed in a horrific boating accident and his father is in serious condition. Our hearts go out to travis at this time. I do want to ask, brad, uber has a lot of challenges on its plate right now. The Sexual Harassment investigation, the results are coming this week or next week. Are we expecting any delays . Brad you know, as far as i know, no. Eric holder the attorney general was due to deliver his report to the board of directors. It was not expected that the report or at least a redacted version of it would become public until next week. I dont know how much it will slow down the investigation. Emily do we know anything yet about which way the investigation is leaning . Brad no, we know very little, other than he talked to many many hundreds of employees, he delayed the report at one point because of the response he had gotten. I expect it will be tough for uber. Emily how have all of these issues piling up impacted the uber brand . Brad you know, in the tech community, perhaps in the Investment Community here in San Francisco, very much so, you step outside the bubble and go to another city, another country and uber is an increasing part in peoples lives. Not just uber, other ridesharing companys too. It is this weird paradox where the brand has been hurt, hiring has probably gotten more challenging. Inside uber has got to be a very difficult time, but this is a service and a Company People love. They have made a bigger part of their lives. Emily that was bloomberg technologys brad stone and mark bergen. The story we are watching, it has been revealed two former theranos directors did not follow up on allegations surrounding the validity of the Technology Used at the blood testing startup. Gary russhead and George Schultz said in depositions they did not need to question the companys founder Elizabeth Holmes about the matter. Remember that both men left the board in 2014 after a wall street journal investigation highlighted employees concerns about the company operations. The annual report this week. We will dive into what has become essentially the state of the union for the Tech Industry. This is bloomberg. Emily nest labs has finally ended an 11month product drought. The latest gadget is a revamped, highend Security Camera called the nest cam iq. It is the first redesigned camera since the start up acquired startup dropped the camera in 2014. It shoots higher resolution video that allows users to more deeply zoom into footage without losing as much clarity as the current version. And the camera lens will automatically pan to follow a person in the view as they walk around the room. Mary meeker unveiled her widely followed internet Trends Report for 2016. The 355page report covers everything from the cloud and internet advertising to wearables and music subscription services. A major takeaway from the report, the rise of online ads. With Global Internet advertising expected to pass tv in six months, and google and facebook reaping the benefits with their combined share of online ads amounting to a whopping 85 and rising. We dug into the findings with Bloomberg Intelligence u. S. Director of research paul sweeney. Paul we are seeing the trajectory over the last, really, last 10 or 12 years where we have tv ad spending growing about 4 to 5 a year, but digital ad spending growing 15 to 20 a year. The lines are just about to cross this year, and if you look at the forecast over the next several years from various forecasters, continued upward trend in internet ad spending, again doubledigit growth versus television in the low single digits. Emily so what does it mean for everyone else if facebook and google are getting the lions share of the pie . Paul yeah, if i am an advertiser, i am worried, because i have a market where there really is a duopoly between facebook and google. I only have two buyers, two platforms to allocate my ad dollars. That is not a good market structure, market dynamic. What we are seeing is of the incremental ad dollars going to the digital marketplace, again, google and facebook are taking just about everything. It is really a challenge for some of the smaller platforms, think twitter, think snapchat, you know, having 300 million, 400 million users on your platform these days is not enough. When you take a look at google, when you take a look at facebook, each of facebooks platforms is at or above one billion users, when you think about facebook and instagram and message. So it is just a tremendous reach vehicle, and what we are seeing is these big platforms like google and facebook are really starting to target television advertisers, because that is where the money is. Emily Something Else that meeker called out is the measurement of the impact of online ads is very much lacking. Also, the placement of ads is sometimes rather suspect, perhaps they might pop up next to offensive content. What do you make of some of these potential headwinds . Paul these are significant risks, and they are highlighted by not only advertisers, but the ad agencies that represent them. Measurement and context and placemen