Both the u. S. And iran need to show compromise and flexibility. Global news 24 hours a day powered by more than 2600 journalists and analysts in over 120 countries. From washington, i am Alisa Parenti. This is bloomberg. Emily this is Bloomberg Technology. I am emily chang. All this week, Bloomberg Television and radio are on the ground in boston showcasing tech giants and startups and Breakthrough Technologies in robotics. We are speaking with innovators, Venture Capitalists, educators across the city. Caroline hyde joins us from the ge interim headquarters in boston. What have you got on top today . Caroline so much, emily. Weeke had such an awesome so far, spending time at your old font, harvard university, yesterday, and the museum of science. Today, ge kind enough to post us in their interim headquarters. They relocated from connecticut to boston last year, bringing hundreds of jobs to the local area and receiving 145 million worth of incentives and tax breaks from massachusetts and the city of boston. Broke groundy, ge on their new headquarters less than half a mile away from where we are right now. Here is Ceo Jeff Immelt at the event. Boston should look to the future with great promise and optimism. I really believe that this town is going to be one of the most important cities in the world, and that ge can be part of that renaissance, whether it is in technology or manufacturing. Grandne for more on ges plan for the city of boston, where joined by the chief financial officer, Jeff Bornstein. Thank you for having us. Jeff b. thank you for coming. Caroline this is where the digital team will be. Speak to us about what boston means for your Digital Transformation in the business. Jeff b. boston is very unique. You start with a place where there was more r d and research spent per capita than any other place in the world. Of ideas,just a sea meaning there is such an entrepreneurial spirit, so many startups and such a deep Technology Culture here, that it is absolutely the right place to start making the transformation, no question about it. Listen, there is no other place on earth where you have 500,000 of this modest kids in the world going to school and graduating every year the smartest kids in the world going to school and graduating every year in the metro boston area. Boston is unique in that regard and we are thrilled to be part of this echo system. Caroline your conglomerate among so many areas power, aviation where do you think you will make the most obvious indent in terms of the Digital Transformation of your business . Jeff b. we think it plays horizontally across all of our verticals. In health care there is an enormous amount you can do with Machine Learning and how we think about clinical outcomes among images. The oil and gas business is plowing full steam ahead in improving productivity and efficiency of wells, tried to get the breakeven price, a barrel of oil, for our customers to make products more competitive. I dont think there is a business in the ge portfolio that is not going to benefit dramatically from the Digital Transformation. At the end of the day we are trying to make our products through analytics and data perform better for customers and create Better Outcomes for our customers economically. We think there is an enormous amount of productivity in systems of machines. Make quiteou seem to a bit of acquisition activity, particularly in the area of robotics and printing. They have been targeted largely and european companies, but what about acquisition opportunities in boston and east coast area and building that part of the business . Questionso there is no in our mind that added manufacturing is an enormous opportunity for the company and the world. It is every bit as revolutionary as what happened in the Digital Transformation. We absolutely believe that. Big laser cutting companies in europe last year. We didnt start their. We started with an acquisition of a Company Called morris technologies in the u. S. About five years ago, and that got us going. We have been investing in doing an enormous amount of research in 3d printing over that time. We do not just start with these acquisitions. These acquisitions give us new modalities and allow you to make parts differently than different kinds of parts. We will invest and leverage that. It is not a completely remake how people think about designing products or parts or a finished product, and how they build it. The great thing about additive, it is a constructive process, not destructive. You only use the material you need to make the product and you can make it in a fidelity that you can never do with todays machine technology. The greatest machines in the world wont let you make things as intricately as 3d printing. It opens up a design space that really never ever existed. Caroline you say you didnt start with those acquisitions. Will you finish with them . Are there more to come . Jeff b. we always reevaluate how we put these parks together and there are opportunities to move the ball down the field and excel are in. We are white we have white weips we are have partnerships, a deep relationship with m. I. T. Labs, a lot of 3d Printing Research going on, both in metals and fibers. There was a real echo system to move the whole practice best ecosystem to move the whole practice forward. There is a real ecosystem to move the whole practice forward. Caroline you have been talking about investing. How do you square that circle . Jeff b. this is about the future. We have to continue to invest in the future. This is for the company has gone decade three decade. In the long run, these are the kinds of investments we have to make. At the same time, we will run our own company as efficiently as possible. We can walk and chew gum. Does not have to be at the expense of the other. Running the company more efficiently today gives us the opportunity to invest in these technologies that will be the future of the company in 10 or 20 years. Caroline as you make these big commitments from a big investments, it is a time of political change. How do you think the political environment fits into this . Ande are worries about aggression from the leading institutions, worries about the funding going into biotech, the lifeblood of boston. What do you think of the Trump Administration in that respect . Jeff b. well, i dont have a specific comments around the Trump Administration. From the ge perspective, we serve Global Customers and our Global Workforce and that is the company we are and the company we are going to run. Fortunately come out supply chain, manufacturing and technology capability, looks like the places on the customers we serve. That is how we have to run the company. We are Global Company and we will remain a Global Company. Thating we do policywise makes the u. S. More attractive for investment caroline taxes . Jeff b. taxes, that improve the competitiveness of the u. S. , is great for ge. Do wehan 50 of what we do outside the u. S. And we have to be able to play broadly globally. Caroline and consider the digital confirmation globally as well. Great having you here. Jeff bornstein, cfo of general electric, or ge, of course, how they want to be known. Now, a story we are watching for you. Shares of snap tumbled more than 20 in the thursday trading session. Investors sold the stock on to supporting firstquarter results and slowing user growth. It ofn average price tag price target of 21 a share, and rbc analyst says that snap is already larger than twitter in terms of daily users and is more innovative. Coming up, we will go under the hood of a startup, and how it is beating heavyweights like lyft. Nd if you like bloomberg news, check us out on the radio. In the u. S. Come on sirius xm. This is bloomberg. Caroline welcome back to this special edition of Bloomberg Technology, live from ge interim headquarters in boston. This area was designated as the citys Innovation District back in 2010, part of an initiative to develop 1000 acres of land to luring companies and creating new jobs. The seaport is home to a number of tech startups, including nutonomy. The company has launched a fleet of autonomous time taxis in singapore and have started on the mean streets of boston. We checked out what they are cooking up. Take a look. Self driving technology is taking automakers and tech giants by storm globally. And boston isnt sitting this one out. Nutonomy, a self driving car start up, began testing here in january. Vp a partnerships previously worked at a camera cam bridgebased copy. Study isurban grappling with the largest migration in history, and how we accommodate the growing urban population without having to expand our infrastructure at the same pace, which just isnt possible. That is where Autonomous Vehicles can be part of the solution. Caroline last august, nutonomy teamed out with southeast asias largest Ride Hailing Service for the first autonomous driving texas, beating uber to the punch. Nutonomy is a software brand. Wepartnering with grab, could reach a broader crosssection of the public. Caroline with headquarters in singapore and massachusetts, the m. I. T. s was founded in 2013 the m. I. T. Spinoff was founded in 2013. Now home to its employees and cars. Theng there garage on site and being in the testing area allows developers to see in real time the area they are coding and building the Technology Platform for. Caroline as for residents in boston hailing self driving taxis it will take us some time to get there and we are working with the city to roll that out. Caroline it is backed by the singapore government and the ford motor chairman. It is in talks for a new round of funding, as nutonomy works toward a full commercial launch in 2018. Now we are joined by the and y ceo, carl icahn Karl Iagnemma. Karl in boston we just started driving here a month and a half ago and we are adapting autonomous driving to the streets of boston. Boston is different than singapore. In singapore people obey the rules of the road caroline no jaywalking. in boston people are more creative on the road and we have to adapt to the software to drive more like a bostonian. Caroline i want to understand where you fit into the world of self driving cars. You are partnering with auto manufacturers and you are not making the cars. It is about sending technology through the carmakers . How are you working or competing . Karl there is a lot of copies out there that can build cars, and there are few copies that can build the software to power the self driving car. We are a self driving we are a software company. We are partnering with carmakers and will integrate our software with their cars and put the cars on the road in a whitehailing ridehailing network. There will be no one behind the wheel, and as a result, the cost of the service will be substantially lower than todays taxi services. Caroline so the revenue from the car trips will go to you, be divided . Have you decided how it will work . There will be revenue share their by the final difference is we are not selling cars in the traditional automotive paradigm. We want to sell a significant fraction at a reasonable price per mile. Caroline and the data . Who owns the data . Karl that is a great question. The data itself is a very valuable resource. We are collecting more data about the boston cityscape at a level of precision that has never been collected before. Some of these questions are unanswered. But theres a ton of potential for monetization of the data stream itself. Caroline the Car Companies own the data along with you . Bill ford come having spoken to him, he is worried about owning the data and the likes of google and apple will eat their lunch. Karl all good questions, ands. Those are negotiations open questions. Those are negotiations to be had. Everybody is try to get as high in the value chain and we honor different. Caroline you were a director at m. I. T. And founded an alliance with singapore. How much of your team is from those academic institutions . Karl we have about one third of our company in boston, two thirds in singapore. We love being in boston. You have m. I. T. , harvard come a boston university. Some of the best universities in the world. Relatively speaking, little competition in the automotive driving space. We have a great line on these extreme the talented individuals, and the currency in this space is finding the very talented people. It is a battle to recruit and land these folks, and the reason is that the difference between winning and losing in this space solely comes down to the quality of your team. We have one hundred of the most talented Autonomous Vehicle engineers in the world, and that is what sets us apart. Caroline it comes down to your team and it might also come down to your funding. Are you close to closing your funding round at the moment . How easy or cap has it been o r otugh has it been . Karl there is tremendous interest in autonomous tables and what we are doing in particular. Caroline the money is coming in soon . Karl there may be. We are working on it. Caroline glad you are. Is this the place to be or do you need to be multinational . Karl here in boston you have access to talent and capital. Those 2 environments of the lifeblood of any startup. Great place to be. Caroline great having you with us as well. Great weekend great day. That was Karl Iagnemma joining us there. Coming up, we continue to go behind the scenes of big tech from operations in boston. Microsoftsvisiting cambridge labs. This is bloomberg. Caroline welcome back to a special edition of Bloomberg Technology from boston. All this week we have been going behind closed doors, checking out operations of tech giants like facebook and ibm. We visited the new Microsoft Lab in cambridge. The same week the Company Holds its annual developer conference. Lets see how they fit into the Bigger Picture of the company. It is microsofts biggest event. Now in its seventh year, microsoft and bill is an annual conference designed for developers, and earlier this week, there were 5000 who descended over seattle to dream up the future of pcs, tablets, phones, gaming consoles, and ai innovation. Here are 10 japanese restaurants in seattle. Irilike digital assistant, announced at build three years ago. Ai is everywhere. Caroline such anna della took the stage to announce his vision of ai available for everyone, powered by the cloud. Microsoft new england lab, at the forefront of Machine Learning research, with health care, social media, economics, and more. I traveled over 3000 miles from San Francisco to cambridge to visit the lat and sit down with the managing director of Microsoft Research new england. What were doing is we have deep collaborations between people in ai and, for example, economics and biomedical. Caroline this new england lab is part of our Microsoft Research community of more than 1000 scientists and engineers across 11 Different Research labs. When i wrote up the pitch for bill and steve 10 years ago, it was precisely the expertise that was here. Either the concentration all of the this is aimed at bringing together Computer Science with the social sciences and the biomedical sciences. There are 50 universities within about a mile of us. It was the ability to work closely with these universities. I dont think there was a researcher in our lab who hasnt had a deep and impactful collaboration with the local expertise. It is also not going to be as good as the dystopian caroline for more on the exciting projects happening here, i walked around with the principal researcher at the lab. What we are trying to do is take a bunch of the things that economist do in their daytoday, pricing, forecasting, and we want to automate those things and supercharge them with big data. You really need ai and Machine Learning to make the best use of the data, and to increase the number of users and have those users be more satisfied. Depending on what you do, you could name almost any field for me, and i could tell you how ai is going to really help that field to serve its customers better. Now, story we are watching for you. Verizon is the winner in a bidding war over at t for airwave licenses. It has agreed to buy the company for 3. 5 million in stock. It is one of the largest holders of spectrum approved for 5g use. Both verizon and at t have hopes network,the largest 5g helping to win customers for a lightning fast internet connection. Coming up, ge ventures has dozens of companies in its portfolio covering health care, software, and the enterprise business. We will hear from the person running it all, sue spiegel. And Bloomberg Technology is Live Streaming on twitter, we gaze at 5 00 p. M. In new york and boston, 2 00 p. M. In San Francisco. This is bloomberg. Im Alisa Parenti in washington, and you are watching Bloomberg Technology. The vice chair of the Senate Intelligence committee is accusing the white house of not taking the investigation into russia and the election seriously. Senator warner of virginia say