Embattled house Gop Health Care plan in his weekly address. He also once every american to know that action under the Health Care Law is a urgent necessity. He criticized the plan as obamacare light. Suggesting the fbi director dispute, President Trump claims that he was wiretapped by president obama, a losey says she does not believe the claim is true. James comey should set the record straight. James comey has privately urged the department of justice to dispute the spirit global news 24 hours a day powered by more than 2600 journalists and analysts, in more than 120 countries. This is bloomberg. Bloomberg technology is next. And caroline hyde, this is Bloomberg Technology. After up, bitcoin crashes the u. S. Rejects and details ahead. Plus capitalizing on the crackdown, wide a billionaire ceo thinks the travel ban is bad for china. Teslas power move, as the u. S. Runs for a infrastructure wound. First to our lead, bitcoin crashes after the securities and Exchange Commission tries to get a fund. Bloomberg, we my are using the prison thats of watch it plummet. We are currently see it down and 20 with the oneyear chart is doing. This is a volatile asset. January, wet in have more with corey. What exactly happened. An effort trying to create this. It gave a lotense more people access to integrating the spirit it was also putting more money in their pockets. Depending on the size of that operation and could change over time. Bitcoin was trying to be acquired, actual bitcoin. Buyer fire was disappeared from the market. Crazy, itoff like sold at 23 , that is crazy. , it is turned around only down by 8 . They are still recovering from those first sales. It is a big surprise for the community. This is a volatile asset, it is still just as high as we were seeing back in early february. How much eating this was built into this . Cory it is not so much about a fundamental believe, it is very volatile, it is not a deep market. Go through a couple of sellers, the price can jump a lot. Bids for a couple of bitcoin, it is so far away. This couldpe that provide a little bit more liquidity in the marketplace. The fcc does not see it that way. I think we will see that, it is trading in china, it takes place a lot in china. There may be a lot of people trying to get money out of china. Do you think that that rampant demand from china is continuing . Where were going to see most of the trade, where this is happening. 90 of all Bitcoin Trading is taking place in china. That has nothing to do with this. What is the driver . I think it was a function for them to get a love or money. Bringing this to all markets. This would have a regular Stock Exchange property. We will see how well it is doing and where it is coming from, thank you for shutting the light for us. Is largest jobs figure surprise with the upside. 250,000 jobs were added to the United States, unemployment went down to 4. 7 . Jobs were of these from construction and manufacturing. This was a good start for the Trump Administration. Many continue to wonder if the momentum will continue. The tech sector has concerned with the new talent. We have Jake Schwartz joining us. As well as david kirkpatrick. Thank you very much for joining me. Are digging into the bloomberg, the i. T. Sector is hard to show. Flat emma it is zero. , give us where you see technology as supply and demand . We are seeing a massive secular increase for tech skills. That is no secret it has been going on for a wild. Context whatat were seeing now in the last six months or so, the companies are finally starting to wake up because they have such a demand for a tech talent. There is a limited supply, they are aggressively working with Companies Like ours to find alternative ways to generate that talent. ,f it is reskilling employees or finding pipelines of employees. That is all a part of this secular trend. Have less to do with the immediate motion of the economy, but what could happen. A need for retraining there. What youwant to hear hear from people in new york and in Silicon Valley, there is this one for retraining. Could they build up more talent in the red states or is it too late . I think there is demand across the board. I think there is a Tech Industry how everybody rings their hands routinely. I think youll see a lot coming with technology. Find ofhelp americans these is that are harder to obtain. These could impact growth. That is not a positive thing in this month to month change in job is not going to be impacted by tech in any way. Skill, you are in demand right now. York General Assembly is in sydney,lling, hong kong, can you tell us a little bit about how much potential there is for people coming to the United States. I would say we have gone to all of those specific cities view mention, what we see is a truly amount of people who share for the aspirations and their life. Those people still exist, they still do create a certain level of stability to be able to study in new york and be a part of the General Assembly. Ban, thereent travel is an overall difficulty with visas. Impact peopleill traveling between countries. We view that negativity mobility as a net negative. A you seen that some of the tech giants are now hiring all. Quare, trying to navigate think they are being forced to do that. Situation, companies outside the u. S. Are also developing facilities. We need to have talent wherever the peoples are. Thankfully we have a lot of them here, i think even beyond that those Tech Companies are even contemplating if they have to move their headquarters out of the young states. We become more and more xenophobia, and cut ourselves off from the global economy. Buckley that is not imminent, i think it is not out of the question. I want to what the general for people to serve qualifying in the red states, you will need to retrain those within the country or is it time . Global, welready believe in the story here. We are in a movement right now where operations are waking up that there are opportunities and obligations to think about their own role and the worker development. We are spending a lot of time and energy on our very Close Partnership to successful corporations. Youre helping them rethink how it could help skilled employees and reskill them. We are already seeing tons of that activity happened we believe there will be a lot more to come. Jake, ending on an optimistic note, thank you very much. David kirkpatrick, sticking with it. Of the world is watching the Immigration Reform take place including china. We spoke exclusively to the ceo of the nations Largest Energy provider and see how he looks at his country taking advantage of the policies of trump. Antiimmigrant, at thena if you look president s speech there is a talenthat for a global china is willing to take on the risk there is a large economy. It is large and fast. Ratenk of a high growth around how we can generate opportunities. People naturally want to go to two the market where there is opportunities elsewhere. We will bring you more of our exclusive interview with robin lee later this hour. Trump says his trillion dollar infrastructure plan and how he could win it. We will tell you why next. This is bloomberg. Selle 1 billion deal to bitcoin has fallen apart, industries which have worked over in the u. S. Company saw bankruptcy. They were saying the chinese did not make payment. This costs 25 million in addition to the 25 million, they also had to pay for extending the closing date. For more, this would have been a big trade to the 1 billion deal. Betweenlegal feud and zenio john carmack max. Company owes him 22 and a half million dollars. He says this is because of the sale of id software. Month oculus was ordered to pay half 1 billion to 70 max. Aboutiolated a nba building a vr headset. On, snap options beginning bets onthey are placing the chance to trade in the future. Me. Johnson, joins this is a way of betting on future pricing. A look at the size of business to. With this and help support the stock market, or be more dramatic on that side of the law. It was saw from snapchat in a pretty decent volume for the auction, what we saw pay chart itring a was on par with twitter. We saw this as being very similar, as well as on facebook. I should say. Is the this is all about community a lot of options traders will be on both sides. It will fall apart at different prices in different time periods. What we saw here is a lot more activity. Day one is the only date you can see what the sentiment is. One you saw a call volume , sopril looking at options that is going to air next month or four months from now. We just put that chart up now. Went throughrly one, they had day a trading glitch with the nasdaq. Is this something we usually see . I think it is more about the evaluation itself. There has been so much involvement with the market. They are trying to get those positions, and can be quite common. It is not necessarily what they were looking at. Margin andion Profit Growth cory johnson, editor at large, thank you for your opinion. Coming up, we tackle the biggest tech headlines of the week. Wikileaks dropped another bombshell this week by publishing thousands of papers from the cia. An ability to is at into microsoft and others, relative newcomer on this story. Plus they top tech headlines this week. Wikileaks was also the source of some confusion, where they said you could hack into whatsapp. That was not content, it was in the data, what it did show us was that the cia has the ability to hack into virtually any consumer Electronic Device out there. Whether it is any kind of phone, computer, even a Samsung Smart tv they can hack into it and listen to what is going on. You some people speak out with the likes of apple, google, you can see they have already sorted this out. Google is wrestling with dealing with this. How has Silicon Valley responded to this . I do not think it is that shocking, if they can get into your phone you can understand what is happening. I think there was a lot of fear initially of people looking at encrypted messaging apps, when it was just like the cia is on your phone you are in trouble. There is so much paranoia in Silicon Valley already, i do think it was particularly shocking. It was slightly misconstrued that they were able to decrease encryption, that is not really the case. They can see the messages, they can see whatever you can see. If you can message on your phone, they can see it. Is not the governments ideal way to hack into an instant messaging app. They would like to be able at cap into the network that they are able to do with a phone network and see everything. It is not what they are able to do that. That should give us some solace. The tension with washington goes stresse see a bit of a with those relationships. Im going to talk about one was over deciding not to be on Donald Trumps panel. Was the video you brought us last week, the things have now been answered. Travis said he needs help. First he said he needed leadership, now it is looking they are going to have a executive recruiting firm. Certainly with all the problems they have had there is a strong desire to have a Strong Female leader grade somebody who he could see as a. , a good fit for the company. Are we hearing any names . Are dream there candidates. I do nothing there are any kind of specific reports that they have talked to a specific person i think it is premature. Where do we start with uber . Also an interesting report that they have a great world of trying to get away from the authorities. Able to put up fake versions of the app that helps cars dodge police. There has been a neverending parade of bad news with this great ball. They came out and said that they will no longer target regulators and Law Enforcement officials with this program. Which they say they still plan to keep, because they use it for other things. If someone is going to do harm to a driver or otherwise filing the terms of Service Agreement with uber a will use this system to see them and see them if they are not. Reacting . They it has been a perfect storm. It is not been ideal for them. Disaster, it is all in one short time. I think the morale head is probably the biggest damaging effect. The over on twitter was certainly hurting. I do think it is have the same image on usage. Every week the ceo has to apologize for something different. He can work anywhere in the world, they have to provide a explain why you are working for the bad guys that is a core problem right now. Still to come, President Trump promises a trillion dollar infrastructure plan. Muskas watching closely. This is bloomberg. Alisa i am Alisa Parenti and you are watching Bloomberg Technology. President trump is congratulating House Republicans for what he calls their diligent work to repeal obamacare. He says replacement is not far away. He spoke after a meeting with g. O. P. Leadership. President trump this is the time we are going to get it done. We are working together. We have great results. We have tremendous spirit. I think it is something that is going to happen shortly. Alisa the e. U. Is reminding Prime Minister theresa may how tough the upcoming brexit negotiations will be. A series of interviews and leaked documents show leaders vowing the e. U. Loses more than it gained. Germany says the e. U. Will not grant many concessions. Even ireland wants the u. K. To pay an exit fee. President Vladimir Putin praised the close ties between the russian and turkish militaries today as he hosted the turkish president. Relations between the countries were strained after turkey shot down a Russian Military jet in 2015. Both nations have brokered a ceasefire that helped reduce the scale of fighting in syria and cosponsored talks this year between the syrian president s government and the opposition. Greeks Main Opposition Party is warning Prime MinisterAlexis Tsipras it will not bail out the government. Creditors are demanding more austerity measures. We talked with the party leader. We are not going to vote for those. We made that very clear. We feel these fiscal measures are at a cost that greece unfortunately has to pay for the incompetence of this government. Alisa nigerias president returned to the country after taking medical leave that lasted a month and a half. The 74yearold former military dictator remained out of sight for weeks with anxiety rising steadily across the country. He has yet to disclose his illness. In 2010, the country went into paralysis when a former president died in office. In asia, the impeachment of a south korean president opens the door for a reset in the north korea and china relationship. The court set the stage for elections in 60 days. They also may rethink the antimissile system china opposes. Malaysian police have formally identified kim jongnam as the victim of a fatal nerve agent attack. He was the estranged halfbrother of north koreas ruler. The north has refused to acknowledge he was the victim of that attack. Global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. I am Alisa Parenti. This is bloomberg. More Bloomberg Technology is next. Caroline this is Bloomberg Technology. I am caroline hyde. This week, we have been focused on infrastructure after President Trump promised 1 trillion in public and private financing. One company that stands to benefit from such a large investment could be tesla. We know the c. E. O. Elon musk is advising the president on the matter. Joining us for more is the u. B. S. Analyst who recently wrote a report on the cost of building out the electric Vehicle Charging Network tesla needs. Also with us david kirkpatrick. Fascinating report you put out. 8 billion is the price tag. Do you think we will have an efficient infrastructure empowering the electric vehicle . That is the high end of the range. We provided a range of 2 billion to 8 billion. In the low end of the range, about 2 billion. That is about 30 minutes for a charging station. The extreme scenario is about four minutes which would match the convenience of a gas station. Caroline put it in perspective of the amount you see coming in terms of Capital Investment from tesla. Is 2 billion to 8 billion a significant amount . Quite frankly, it is a drop in a large pool. That 2 billion will occur over years. I think people are focused on the model prelaunch. We are highlighting in our report that when the model 3 gets out, you will need more convenient for consumers in terms of those who want to go longer drives. All of that will mean higher levels of capex. Capex remains a top concern. Caroline i know you view you on elon musk and tesla as a positive force in the u. S. Economy. Are we likely to see this investment coming to a good end . I think it certainly helps all of us that anybody is making these investments. Colin is immersed in the numbers more than me so far be it from me to say these are brilliant moves for tesla. I would say he is also predicting, his targets would be for the stock to drop by one third, which is a lot. You could counter his argument. With an overvalued stock, at least they have the ability to raise more capital with that currency that can help them pay for these investments. I think they are positive for the country. Caroline colin