Transcripts For BLOOMBERG Bloomberg West 20160921 : vimarsan

BLOOMBERG Bloomberg West September 21, 2016

Affecting our own societies. Yorkather of the new reportedly told the fbi in 2014 that his son was a terrorist. He said that his son was interacting with bad people overseas. He later recanted that claim. The Syrian Military set a set a truce brokered by the u. S. And russia had failed. Prosecutors say suspects arlington to the attacker who is killed by police. Emily im emily chang and this is bloomberg west. The u. S. Paves the way for Driverless Cars to hit the road. We will hear from government and Industry Experts about where innovation goes from here. Adobe scherzer popping on higher demand for their cloud software. And is india oracles next frontier question mark the ceo tells us about her ambition for that fast and growing market. First to our lead the u. S. Government is paving the way for Automated Vehicles to hit the open road. A framework released by the highway regulators say cars need to meet a 15 point check list showing, for example, how their virtual drivers will function and what happens if they fail, how they have been tested. In an oped for the pittsburgh gazette, president obama threw his weight behind Driverless Cars as a way to save tens of thousands of lives. Automated Car Technology has been the focus of scrutiny in recent weeks after a tesla car crashed driving on autopilot, killing the driver. We caught up with mark rose kind on the release of new guidelines. I began by asking how he would make sure Driverless Cars are safe when they hit the market. Mark if you look at the policy we released today, the first part is guidance that includes a 15 point safety assessment. The list the 15 areas we expect manufacturers and designers to look at as they design, test and deploy these vehicles. This is a departure because were trying to build safety into the front and rather than the usual department of transportation, which is waiting until someone gets hurt or killed. Safety in the beginning is a new proactive approach for us. Emily it is interesting because the Companies Making these cars have different goals. Tesla is pursuing a semiautonomous model and google thinks it is confusing it is pursuing a full autonomous model. Do you have a view on whats safer . Mark what you just represented as a full range of what is out there. Nobody knows what is going to be safest. That is why this policy identifies certain performance objectives that we expect manufacturers to attain, but we do not tell them how to get there. That means we are opening this up for all kinds of innovation to look at new safety mechanisms for people to save lives on the road. We are waiting to see what will be most effective. Emily at what stage will regulators need to tackle things like insurance and liability and who is at fault when something goes wrong . Mark the second part is a model state policy that differentiates what the federal versus state rules are and specifically, for the states responsible for the human part of the driving, they have liability and insurance concerns. Theres a specific recommendation to start a commission to look at Liability Insurance for how the state should address that issue. Emily how pervasive do you think Self Driving Technology will become . Mark we think greatly pervasive. It represents great lifesaving potential. It is a great future but it is being created in front of us. We dont really know what the future is going to look like. It is being designed and innovated right now as we are experiencing it. Emily when do you think it will become pervasive . Will the drivers license become obsolete . If so, how soon will that happen . Mark the pervasive part is as soon as we can get it on the seat on the street. Im not sure drivers licenses or people who are going to want to have their own hands of the wheel with the top down on highway one out there in california im not sure thats ever going to go away. Emily how involved are Companies Like google and tesla shape these guidelines . Did you consult with them and how often . Mark we consulted with a wide range of people. We had an open Public Meeting in washington and in Silicon Valley. We had almost 50 speakers and dozens of people who submitted stuff to a public docket. We have interacted with safety advocates, many factors, Tech Companies, academic to do research in this area and a wide range of people. The policy is out but we have a 60 day comment time and 23 other day thats we will be doing over the next month to make sure we continue to learn and make a commitment to annually update this policy. Emily my earlier conversation there with mark rosekind. I also want to continue this conversation with david strickland, now the counselor for the coalition for safer streets, which represent several companies. Thank you for joining us. Where do these new guidelines hit the mark . David thank you for this opportunity. The process is where it is pitch perfect. Looking at traditional rulemaking that can take eight to 10 years before it cycles through is way too slow for a tremendous lifesaving technology such as self driving cars. For the department and his leadership, to find a way to create a Regulatory Framework that is faster than the status quo is a tremendous outcome. Emily where do you think they missed the mark, where they could have gone further or did not go far enough . David its a 114 page document and my coalition and team members are reviewing it. Theres a lot of awful substance david its a 114 page document that went into the work. There are number of policy issues, so i cant say specifically which is the perfect aspect they are looking at or where there are opportunities for improving it, but thats why the agency has created a 60 day comment time as we work through those issues. We will speak to them specifically when we have had time to absorb it. Emily where do you think the big issues will arise . David there are a number of issues that will have to be taken fully and thoughtfully. Liability is one aspect. Preventing a regulatory patchwork is huge. While guidance is helpful in creating a framework, it is not a legally enforceable regulation to control the marketplace. There is still an opportunity for states and localities to create differing approaches which is the reason why the administration has taken a step to issue hope lee a framework which will be followed by the United States. Thats one of the largest issues we will be working with to make sure it does not happen. Emily an interesting question we did not get to is the issue of mapping. We have seen over hit the street with self driving cars in pittsburgh, which has incredibly difficult range navigate. Do you think regulars will beginning involved in mapping and will there be privacy issues that arise . David mapping and geolocation are difficult issues. One part of the policy guidance is having the agency asked questions to figure out best methods and approaches. I think we are early in that aspect in making sure the maps are accurate and properly dated and protective of personally identifiable information and geolocation. The coalition is looking very much forward to working with the department as we go forward and thinking about mapping issues. Emily david strickland, thank you for joining us today. Speaking of Car Technology, tesla is updating the software in its cars after chinese white hack hackers managed to break into the model less control system, taking over the locks, breaks, turn signals and when of wipers. The company said on tuesday that a realistic estimate is a risk to our customers was very low, but this did not stop us from responding quickly. Tesla says it took 10 days to fix this particular vulnerability. Microsoft shares gaining after hours after the Company Announced its buying back up to 40 billion worth of stock on top of an existing 40 billion repurchasing program that will be finished by the end of the year. They are also boosting their Quarterly Dividend to . 39 a share. Microsoft shares have jumped 31 in the last year. Coming up, a singaporebased startup that beat uber to the punch. We will hear about the company that has the worlds first self driving taxis. Plus whysafra catz is betting big on cloudbased growth in india. This is bloomberg. . Emily google has sent out invitations for an october 4 event in san francisco. They are expected to unveil their new Flagship Smartphone called pixel. Theres also rumors about a four k capable chrome cast and the daydream Virtual Reality headset. We will be there on october 4 to bring you the latest news as it unfolds. Unfolds. Turning to earnings adobe shares popping, trading 4 on the news that company with reported thirdquarter revenue of just under 1. 5 billion. To explain what is behind the boost, i want to bring in our editor at large, cory johnson. Adobe has been undergoing the shift to the subscription model. How is it going . Cory it is going well and going well across all their business units. In the short term, the market like the results. By that was interesting if you look at the 55year stock chart for this company. You see a dramatic move up and to the right and it continues to go that way for this company. The fiveyear chart, you are if you are a stock owner, thats what you want to see happening. It reflects a big change they made from selling boxes of software to getting all of emily their customers on to the cloud. Users have complained about this mandatory shift to the cloud. Its not reflected in the stocks, but is it reflected in the numbers . Cory not at all. Increasingly, a strong pace, 20 growth in a quarter they just reported, but steadily increasing is the size of the revenues. The percentage of growth is very strong. The Third Quarter can be difficult in the place with a 10 to screwup is where orders tend to be soft us. They were able to deliver a Strong Quarter this late into the transition. Emily you have been at oracle open world for the last couple of days. The company is looking to reposition itself in the evergrowing cloud market. Yesterday, ceo mark hurd told you that amazons lead is over and you spoke with the code ceo, safra catz about the push into india. Safra india is a phenomenal opportunity. As big a contribution they were, i believe the potential ahead of time to what it is now because the market is so enormous. We had the chief minister say the state alone has 110 Million People in it. Can you imagine . So many of them still need technology and the opportunity for so many young people to adapt and pull in technology and become consumers. Cory the focus on india, i think you have been there personally. You have put a lot of effort into it. Oracle is now focused on the cloud and where india is, that adoption could happen now. Safra with cloud technology, you can deliver much more quickly and at a much lower price. Both of those things are important in india because you can scale fast and they are on a very short timeframe. The chief minister wants to have things up and going throughout his state in three years, not 15 years like plans usually are. We can get everything going in the next year and be delivering to the citizens right away, and additionally, with cloud technology, it allows you to benefit for the massive economy of scale, not only for oracles mobile infrastructure but india and that infrastructure and that size. The match between what they need to do to empower their citizens and the technology we bring is a perfect match. Cory i imagine the size of the business is different to because you can get them up really fast. Cory safra you can handle industry of all sizes from farmers and remote villages to all the Industrial Companies and the world are based in india. We can scale all the way to full size with the cloud. Cory there is a governmental digitization strategy, unlike a lot of countries. Safra what got me started was the Prime Minister came here to Silicon Valley to talk about Digital India and i saw a real ability to bring everyone forward. I said i have to go and i met with the Prime Minister and the chief minister and many other officials and what i saw was a real unity. They very much had a vision and a were going to make it happen and they were going to make it happen fast. I knew as oracle and embraced us, i knew they could make it a reality. Cory in the world of the cloud, is the database still the center of that . I realize im asking the ceo of oracle. Safra what is the database . Thats where all the big data, all of these things all go somewhere. For oracle, our platform is the database. We have all the analytic tools, the infrastructure under it, all the applications, sewed dont miss our foundation. It is not all there is and there are so many new technologies that are able that enable your mobile phone, that enable sensors, that enable much better decisions. Emily a very rare interview there with oracle coceo, safra catz, who has been Larry Ellisons righthand for a long time. Interesting to hear her speak. What stood out to you . Cory does the first time she has talk to us on camera. Theyve got so much power and Financial Assets like no one else. They can out market sales force and buy anything they want. They seem to be really getting a lot of traction. Emily they have also gotten a lot of criticism that they have not done it fast enough. The other types in the industry are pushing this idea that oracle has been way too late to the cloud. Cory they told us last week they were criticizing them for buying oracle revenues and i asked about that and listen to what she had to say in response. Safra we are growing faster than they are by a lot. Im pretty sure he would like to see that. Emily take that. Cory i look at the sales function for salesforce they are doing a 10 of acquisitions. Emily some investors are not happy about it. I know you spoke to mark heard about it. What are they saying about it . Cory i asked if they were going to go higher. They are not going to vote their shares and they won a higher price. Safra catz says at 109 is the price theyre going to pay. Emily the cloud wars are ongoing. Salesforce, microsoft how do you see its differing in three years from what it is today . Cory when it comes to the hosting business, the hosting business as a service, microsoft is the number one player there where you have ibm and google trying to be in that business, theres a tremendous outlay of cash. Amazons capital expenditures, about 1. 2 billion. They would have to spend billions and billions of dollars to build a business as big as amazon in the cloud. Its going to take a lot of spending. Emily cory johnson, two great interviews and row. Thank you very much. Coming up, the land grab among the worlds biggest right healers is growing. Details of the latest mega funding round, next. Emily the right hailing a ride healing at grab just received funding from soft tank, bumping their valuation to 3 billion. This is the largest ever funding round for a Southeast Asian Technology Company and the latest example of how the Ride Services are arming themselves to fend off uber. Staying with car tech funding, lay at go has raised more than a billion dollars to develop its First Electric sports car. In a statement today, they say they got a handful of chinese investors for the project including legend holdings. Last month, another company said it had raised a billion dollars to prepare to challenge tesla. Coming up, the quiet rise of chinas number two smartphone brand. How they are taking on shout me. If you like Bloomberg News, check us out on the radio. This is bloomberg. Decision. Boj policy the question is whether the bank is willing to increase its scale of asset purchases are cut its negative Interest Rate further. By doing neither at recent hasings, governor kuroda field speculation that the boj is running out of ideas and ammunition. That decision comes after japans trade data once again disappointed with both imports and exports sustaining a prolonged losing streak. Imports recorded at a 20th month of declines. Trade deficit of 184 million. Takata shares tumbling. Least fiveived at days from potential buyers, saying they will be considering the possibility of bankruptcy. Bidders include buyout from kkr rival airbag makers and key safety systems. And flex and gate. The markets are anticipating something or nothing. Lets get the latest with heidi waiting on the boj reaction. Becausets interesting we have them coming back from the lunchtime bernanke lunchtime break. Nick ishares down about a 10th of 1 . Some losses coming through. Singapore up half a percent. You can see this has action. Really, we are waiting from the bank of japan. The longer we wait, the more chance there is we will be getting some easing action from the boj. But we are seeing a lot of risk aversion ahead of the decision. Takata is one of those we are watching. It really it reportedly got five bids for that business. We will be watching these names very carefully. Japanese banks, if we get an inkling there will be negative Interest Rates going deeper and declines when it comes to a number of these japanese lenders. Emily this is bloomberg west. Im emily chang. The samsung seven apple had a the samsung note 7 issues came just in time. Apple had a chance to unveil eseven but before that, a dramatic shift in the chinese Smartphone Market was starting to take shape. Lesserknown domestic players had been seated show me top spot in china. Joining us to take stock is David Gramley in beijing and are Tech Team Leader in tokyo. Thank you for joining us. With gotten some new infor

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