Devices. Global news 24 hours a day. From washington, i am Alisa Parenti. This is bloomberg. Bloomberg technology is next. Caroline i am Caroline Hyde in london. This is Bloomberg Technology. Coming up, g7 leaders join the chorus calling on big tech to limit the spread of hate speech and propaganda online. We are live in italy with all the details. Million bet. 00 the c. E. O. Joins us to discuss the investment and using cash to build new realities. The highs and lows of bitcoin. Success andk the wealth swings of the Digital Currency on the bloomberg. First to our lead. Donald trump made his g7 debut in sicily, the final stop on his First International trip as president. Tensions were brewing over trade and Climate Change. There was one topic the group was in agreement on, the need for Internet Companies to do substantially more to take extremist material offline. The meeting comes days after the terror attack in manchester which killed 22 people. Joining us from the sicilian town, matt miller who has been summit. The before you destroy my pronunciation of where you are, the words coming out of your, redoubling the efforts against terror. There was some agreement today. Matt there was. I think a little bit of unexpected agreement. When we came here yesterday, there was an expectation nothing would be accomplished because the italians wanted to move on Climate Change. They wanted to move on global trade and immigration. Three things everyone expected donald trump to disagree with or not even want to talk about. But obviously, terrorism came to the floor because of the manchester attacks. Theresa may came here with an agenda. Internet and social Media Companies like google and facebook to start using an algorithm that could block certain content from people or certain messages. And also figure out who is sending extremist content, stop them from putting it on the flag them somaybe the police would be more easily able to find or follow them. She came away from here with an agreement that not only is in but hasei communique its own separate communique were all seven leaders pledged to get together and not only fight terrorism but clamp down on the internet to do so. Caroline fascinating. They say they will have an industrylead form Going Forward to Work Together on the issues. Theresa may saying this is a big step forward. Lets talk about some of the broader viewpoints. We know how much the u. K. Has been focusing on this and the Internet Companies. The question is how much the Internet Companies respond to this. I want to get your take on other key issues for our viewers because they are interested in Climate Change technology and trade disputes. There was less agreement there. Matt there was much less agreement there. I thought it was interesting , the germanl chancellor and the germans, said they were trying to convince donald trump to agree to back the paris accords. That is what all the other six g7 leaders were trying to do, with the argument Climate Change is good for your economy, working against it, because it creates good jobs and things Like Clean Energy tech. They pointed to new jobs and the success of those industries in germany which have gotten a jump on a lot of other countries in things like solar and battery power. And of course, under president obama who was with Angela Merkel in berlin yesterday we created a lot of jobs in the u. S. Also with new battery factories in michigan and on the west coast. They tried to come at donald trump with that argument. The interesting thing i think is gary cohn says trump is very concerned about the environment and is open to understanding the european take on Climate Change in the paris accord and that he is evolving. These are things i dont think you would have heard from donald trump on the campaign trail as it relates to Climate Change. Clearly, there has been some change in his stance. But he still must to take his time before he decides on the paris accord. Caroline the ongoing evolution of donald trump. Matt miller, fantastic to have you staying up so late for us. Thank you for reporting live from sicily. Have a good weekend. A story we are watching on asia. Sharp is forecasting the first annual profit in four years. The company credits cost cuts and the new owner and sales fueled by demand for smaller display panels. Sharp has more than quadrupled in value since august when they bought control of the struggling electronics maker. Coming up, we take a look at the rise of ai and what that means for the way we live with a top u. K. Tech government advisor. Bloomberg technology is Live Streaming on twitter weekdays at 5 00 in new york, 2 00 in san francisco, 10 00 p. M. In london. This is bloomberg. Revolutionhe digital is transforming the world and ushering in a new feature of work. One person with big games helping society is eric van der kleij. Headed level39 and is out with the center for digital revolution. The Business Development hub aims to support startups working on ai and the internet of things and robotics. Joining me now is c. E. O. Eric van der kleij. Wonderful to have you here. Talk to us about this particular developer and have being launched Development Hub being launched. There are two things it will do. It will help corporates and startups figure out how to take advantage of the geithner he pioneering technologies. The other thing is we will help society and government figure out how to cope with the impact of that and thrive. We believe we should be masters of technology and use it for the good of society. We dont really know what to do with it. This will be creating experiments to figure out what society can do to help cope with these technologies. Caroline you were advisor to the government. Was it almost a reverse inquiry . You saw the government was not understanding the applications of the new technology and how it could be addressed to see the new change upon us . Governments are large institutions and will always be slower to adopt new technology. ,ven things like blockchain only a few years ago blockchain and bitcoin was the money derers currency of choice. When these technologies go through the challenging initial cycle of being slightly beldressed wild west to useful for companies and society, that is when you see standards emerging and use cases that are profound. Caroline i can see this is quite a crowded space. I looking at microsoft ventures. If youre into ai, you could go to that accelerator. Perhaps you could go to level39. Why come to you . We are creating a new model, slightly different. We will be investing with corporates to help build entirely new companies. We are sharing the risk with them. This is an interesting model. Caroline what would you fund as a startup . From seed all the way to growth. We are a younger business and do not have as much capital as bigger companies. But we take our stake by taking early risk. We announced the first one with swisscom. These are blockchain related innovations. We will let you know how that goes. Theline you have coinvesting, funds being raised. Im also interested in Cocoon Networks, innovation centers. This is where the hubs you are creating in london will be based. Investmentked platform, the first of its kind. What is interesting about it . The Cocoon Networks as our partner are as determined as we are to help crack the code on how european and u. K. Companies can expand to china. When you think about it, there are two or three unicorns a year that come out of the u. K. And europe. If we had real access to the chinese market, it could double that. That is what cooker networks are interested in. Caroline this is only the first of many hubs. Where else you looking to expand question mark what it is extent itself establishing in london and shanghai. We are only three days old today. We have already had incredible response from around the world who also want to discuss the opportunity. Caroline while you here, i have to ask more about your experience having worked in the u. K. So well and worked with level39, we are about to have a u. K. Election. We are at the point of seeing brexit digitally being pushed through. Startupsdo you think will be expanding london in london . The advantages london brings will not go away overnight regardless of what happens about brexit. Mind, theirreneurs job is to figure out how to cope with whatever you throw at them. When you think about companies that have started even overseas, come here and ground, they have access to the talent, investment, some of the biggest single markets. Always choosing the u. K. As the first landing point into europe. Things will change. Entrepreneurs will have to figure out how to get licensed in more territories. But they will do that because the advantages of being here will outweigh the his advantages. Caroline on a day like this will receive the call from political leaders against internet juggernauts, where do you see the digital role within society at the moment, within the world of terror attacks and the like . Is tech responding the way it should . Are we seeing tech as a force for good . Calls and didays not think of them as an attack against tech company giants. I thought of them as society through our leaders explaining the world we want to live in. That is more what it is. Bear in mind all of this technology is so new, in some cases it is less than 10 years old, so we have to learn the best practice to use these for society in the right way. What the leaders were doing is calling for measures to improve the way these technologies are used. Caroline and the companies will respond . They should. They certainly are listening. In many cases, they are responding. The ones that want to continue to thrive will do so. What we do not want is thought police. What we do want is a safe place, and enriching environment for ourselves and our children. Caroline utopia. Here is hoping. Come back and tell us more about how your venture is continuing to growth. , eric vanvery much der kleij. Coming up, the londonbased the our startup received a 500 Million Investment from softbank, one of the largest deals ever in the u. K. We will catch up with the c. E. O. Next. A reminder of our new interactive tv function. You can find it at tv on the bloomberg. Can watch us live you can watch us live. If you miss an interview, you can go back to it. This is for bloomberg subscribers only. Check it out at tv. This is bloomberg. Caroline apple is said to be bringing Artificial Intelligence to chips. Familiar to a person with the matter, apple is working on a processor related specifically to airelated tasks. The chip would improve the way devices complete tasks that would otherwise require human intelligence. Apple declined to comment. Shares of nvidia hit an alltime high today after bloomberg reported softbank is considering boosting its stake in the company. The firm would raise its holding over time and begin to work more according tonvidia people who asked not to be identified. Bloomberg reported soft point softbank acquired a 4. 9 stake in the chipmaker making it the fourth largest shareholder. Softbank has also been looking at the vr space. Earlier this month, the company led a 500 Million Investment in a londonbased the our startup in one of the largest binge or capital deals seen in the u. K. In the last decade. Improbable world create virtual scenarios for gaming and simulation. The round brings total funding to 550 and at least 1 billion valuation. We caught up with the improbable c. E. O. And asked if this funding round was the amount he was hoping for. I think what people do not see is our goal is to literally build new realities. That is a 10 year plan. It will take an enormous amount of investment even beyond where we are now to fully realize that vision. For us, this is a logical next step in preparing the company to not only deliver for the current commercial objectives but invest for what technology can become in the future. Caroline talk about what the technology could become in the future. Realworld applications, simulation applications. Where do you think the fruit is hanging at the moment, whether low or high . People talk about ai as a category. To find patterns in the past of data. The Technology Presents opportunity to recreate reality at a largescale. You can take a city or piece of infrastructure and model its behavior to a scale and degree not possible previously. What we do to provide that is enable the massive computation to take place. We are hoping to be a Foundational Technology for a lot of applications. I think the potential in gaming is gigantic and perhaps underappreciated. Caroline talk about the gaming applications. You have a new application at the moment trending on twitter. Tell us about it. The applications in gaming are about going from cingular experiences were people are playing in static worlds to really creating massive, shareable experiences with millions. That is a huge sea change in the experience. All of a sudden, youre not playing to a script. You are able to have experiences defined by you and your friends in a fundamental way. This is one of the first commercial worlds to have everyone in the same world and also have the ability to have physics on the backend which was not possible previously. All of these trends will lead to future engagement in games. Caroline im thinking about the a lot of people able to game at the same time in the same Virtual World. What does that mean moneywise . How do you monetize it . Monetization tends to be proportional to engagement, the degree to which someone cares about and wants to be in the world. This Technology Makes it more engaging so people want to be in it longer and see it as a valuable engagement for time and money. It creates more opportunities, particularly if you have huge social groups participating at the same time which creates more monetization potential. Caroline the monetization you have envisioned, is it free to play where you are buying things in the Virtual World . I think people will invest more in the things they purchase in the Virtual Worlds because they become more engaging. Property, items, all manner of things become an enormous stake in peoples time and interest. The potential is not scaletood as to the sheer it can become. Im thinking smarter cities. What other applications . Is really about better decisions. So many of the large projects, choices, interventions done in the world are based on static models of how the world works. We can have massive simulations that would create systems in their entirety and see how a power failure may affect the or how a cascading way terror attack could be ameliorated through better infrastructure. Caroline are the governments talking to you, particularly after manchester this week . We have had a lot of support from the British Government and done work on infrastructure simulation. Caroline softbank comes in and gives you half 1 billion. What do they want to see out of this in particular . I think not wanting to put words in his head, but the interactions i have had have shown me they are interested in a longterm technical vision. I think they believe as we do that Virtual Worlds will become a fundamental change in the way we live, work, and play, and the way we run our society. I think for them, much like us, it is about a longterm investment in the future. We have a competitive process. Withwon us over to working softbank was not just their vision but the potential synergies we see. Caroline i asked whether you wanted that amount of money. You say you can put it to work. Softbank has a reputation of giving startups more than they ask for. Is that the case with you . Is there any negatives . Model,ink that is a fair you get too much money going into companies at the wrong stage. We were looking to raise hundreds of millions of dollars so it was in the context of what we were looking to raise. We are also fortunate to have other investors who have become amazing advisors to us. We have the benefit of being able to consider the options with expressed partners who have helped us to see why this is the right move. Caroline what is your view on the process . This kind of private capital does mean we can think differently about approaching the Public Markets. For us, the Longterm Technology play is interesting. It will take us longer before we feel inclined to do that. In general, it does not have to be something that prevents companies from going public. Being put in a position where you can access more capital, it is still attractive. Caroline that was the improbable c. E. O. Coming up, we will have more on softbank closing its almost 100 billion vision fund when we discuss this weeks top tech headlines. Check us out on the radio. You can listen on the Bloomberg Radio app, bloomberg. Com, and sirius xm in the u. S. This is bloomberg. 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