times." he has deep roots on wall street and in hollywood, but no government experience. tennessee senator bob corker was at trump tower today for a meeting with president-elect trump. he is reportedly in the running for secretary of state, along with david petraeus and rudy giuliani. not send a formal the funeralo service for fidel castro. and the two flight recorders from that deadly airplane crash in colombia have been located. they are said to be in perfect could determine

what could determine what caused the crash. only six of 81 people aboard survived. global news powered by more than 2600 journalists and analysts in more than 120 countries around the world. and this isang "bloomberg technology come. "bloomberg technology," next. ♪ emily: i'm emily chang. up, nasdaq ceo goes against the grain, saying a trump presidency would be good for the tech industry. that interview ahead. plus, payment provider strike gets $150 million in funding and creates ireland's youngest billionaires. our exclusive interview with the cfo. and the focus on energy route -- energy week continues. we will ask the ceo of sunrun if

trump that's the clean energy industry and ginger. first, to our lead. trump has chosen chao forelaine department of transportation secretary. >> we are at the early stages of a revolution in transportation technology, and i living these automobiles in real time is going to be part of how we learn how to make them even savor overtime. emily: so what does the choice of elaine chao mean for the u.s. self driving car market? winning us to discuss is our guest joining us to discuss is to discuss is us

our bloomberg technology reporter. why do you think trump picture? -- picked her? >> she is a former bank of america executive, a former corps, and the peace a former department of labor secretary in the george w. bush administration, and she happens to be married to senate majority leader mitch mcconnell, the kentucky republican. this is a political pic who is somewhat well-known in republican circles, but as far as her positions on infrastructure spending, for example, that's unclear at this point, and that will be one of the top priorities from a cold -- from a policy perspective that the trump administration will want to pursue. has a fairly trump ambitious infrastructure plan as we have seen on his website, wanting to spend over half $1 a trillion half

dollars on the u.s. constitution that work. what do we know about driverless cars? reporter: there's not much to know. if you look at elaine chao, where she stands on some of those wonkier transportation fox spent a long time working within this current administration, we don't know. ears what i can tell you. automobilece of manufacturers which represents all of the large automobile manufacturing companies of the world, they put out a statement today calling elaine chao a " pick," so when you look at it from that perspective, the auto industry is viewing this as n, and i can tell you by talking to democrats on capitol hill, democrats are likely not to put up a fight. emily: hillary clinton said she planned to continue some of the policies that secretary fox put

in place, building out a wireless infrastructure so cars can communicate with one another. we know anything about elaine chao's record under the president bushes that give us any indication about how she may feel about new technology? reporter: she has been fairly receptive to new technology, particularly as it pertains from a financial standpoint. if you look at what happened during her tenure at the department of labor. i would just argue that she will come at this from a free market perspective. , again, come at this when you look at the statements coming out from some of these trade groups from the business sector today, they have all been favorable for her. and you know, in terms of some ,f the more regulatory issues people are taking a wait-and-s ee approach, but she is not

politically hostile in any way. she is known in washington circles. the business sectors reacting with confidence and certainty at the pic of elaine chao, which was made official just a couple minutes ago from the trump transition office. didy: earlier today, trump nominate georgia congressman tom price for secretary of health and human services. i have been talking to folks in silicon valley about health care technology, health technology in general, and they said that , especially from the national institution of health, is going to be very important in terms of driving these initiatives forward areas any work -- forward. any word on how congressmen and president-elect trump feel about that technology accor -- that technology? reporter: investments and financial technology have dipped a little bit because of the political uncertainty following what happened with brexit and

the u.s. election. here's what i can tell you. tom price is a top surrogates for donald trump in the health care field. he was an early endorser of , when it was not politically popular to do so, and he was also the architect of the republican alternative to the affordable care act. fintech he stands on and other things, unclear. but he has consistently advocated for the funding obamats of the administration. i can also tell you that this signals that president-elect trump is very adamant about repealing and replacing obamacare, despite that 60 minutes interview from a couple of weeks back when he appeared to moderate on several aspects that, but this is a signal his top rallying cry on the campaign trail to repeal and

replace obamacare is something he intends to follow through with very early on in his first term. emily: all right, thanks so much, kevin, for that update. we will continue to follow cabinet appointments over the next several days. coming up, we will be talking to the cfo of strike. the company raising $150 million in its latest funding round, aiming for rapid growth. this is bloomberg. ♪

emily: tomorrow, we will sit down with the ceo of new tenex for an exclusive interview following their first earnings results since going public. monday settinger the record.

this signaled a huge shift in consumer habits. americans spent $3.45 billion monday, 812% increase from last year. -- a 12% increase from last year. enter stripe, doubling its belly to $9.2 million. it gives it an edge over competitors as retail trends away from traditional brick-and-mortar. stripe joins me for this exclusive interview. congratulations. what do you plan to do with the money? will this go toward acquisitions, international expansion? guest: as you know, stripe is a software infrastructure platform for building business in facilitating payments. with this around, i don't think there is anything to reassess the capital for in particular. i think what scott investors excited his momentum that we , ae carried through 2016 year of building for scale for

has come.d scale a lot of big companies have been joining strike, macy's, haveingdale's, unicef joined the stripe platform. in addition, we have opened up four new markets. pain, singapore, japan, and lost it -- and launched new products. as we look into 2017, the capital is to double down on this effort, open up and up to the markets, and be ready for the scale to come. of new up a bunch markets, and be ready for the scale to come. cyber monday up 12%. how do you continue to capitalize on this trend? guest: yesterday was a huge day for stripe users. we are seeing more and more commerce moving from off-line to online. stripe is really about being an ally to startups and technology

companies and giving them the tools to accelerate their business, that is to go global, to build marketplace and platforms, and pioneer new business models. is the difference in market cap justified, and why? very different businesses. square is a business i greatly admire. it serves a very different user base and is solving a very different problem. with squier, you are looking at atsquare, you are looking businesses across the country, largely off-line, hair salons, coffee shops. stripe is focused on very high growth companies building business online and taking advantage of the new opportunities the internet creates. emily: on that note, analysts estimate you guys processed $20 billion last year. what is the estimate or forecast for this year, and how fast do you expect that number to grow?

guest: as a private company, we don't report any financials. i mentioned we are seeing a lot of great scale driven in particular by a lot of large users. emily: we have been talking a lot about the political situation. you guys have a lot of international expansion, a partnership with all the pay. a partnership with a company in china. you're now in cuba as a result of the white house relationship. we now have a president-elect to our tradents to curb relationship with china, particularly end the relationship with cuba. are you concerned at all about straight -- stripe's business? earlier this year when the president was making his trip to cuba, he reached out to stripe in particular to invite us down there.

they were asking for stripe to be there because of our atlas product. stripe will always give out economic inclusion. we are about creating technologies to create a more economic world. i am not the expert to talk about policy or macro conditions, but there is strong indication the new administration is quite pro-business. stroking theand economy in general is a priority, so we are aligned in that light. emily: so is it something you are watching, following? by companies.est guest: it's something we will talk about in a few weeks. emily: international expansion, where next? guest: we are now in 25 countries. there are 171 countries we are not in yet. some of those are hard to wage. -- reach. but we have a very strong

business and age of. we will -- in asia. we will be doubling down. emily: you are often mentioned as a forthcoming ipo candidate. i don't think anything changes for us. stripe is very capital efficient, which means we don't need to rush to the public market. emily: last question. i am curious, from your the twoive, what sets richest billionaires in ireland apart? guest: john and patrick have had an external revision for stripe, more than enabling payments, but about enabling entrepreneurs to build businesses online. it is that passion, perhaps the long-term orientation they bring, that sets them apart.

-- the cfo of stripe, thanks so much for joining us. has been running the show at nasdaq for the last 13 years, helping to transform the company into a tech and data business. while many in the tech industry are cautious, he is more optimistic speaking to the bloomberg surveillance team earlier today. >> you guys have to understand that we are coming to the age of machine intelligence, machine learning, and big data that has the ability to change the employment profile of this country and really on a global basis in profound ways, in ways we have not seen since the industrial revolution. that fits in perfectly with donald trump's vision of america? is it back to what we saw 60 years ago, or doesn't have to be what we saw in terms of manufacturing, but the 2.0 version? >> i will say this. there is a lot of publicity about globalization, should we

become more nationalistic or not? at is a topic to discuss, but i -- i think thes changes in technology are the most important thing, and i think mr. trump and the rest of the administration will focus on that. >> we talk a lot about globalization displacing a lot of people and this leading to the election of donald trump. you can argue it is technology that has displaced people because jobs have moved on, and if you don't train people, then you don't create quality jobs. i think jobs have moved to other jurisdictions because of lower wage. i think that is a factor, and i think donald trump directly recognize that, but i think the larger point is you have the ability for machines to represent the lowest cost wage possible, and you are seeing machines get to the point where they have manual xterra de, allowing them to do many things previously thought impossible for machines to do. we will have to deal with that

reality. the obvious example is self driving cars. what will that mean for jobs? >> right, what will that mean for jobs? you are trying to do a circle out of a square. if donald trump wants to bring back american job creation to the glory days, but you are dealing with advanced technology, how do you marry the two so you create jobs while advancing the economy? >> i think the path to bring jobs back to america is a good path, and i think we will see progress there, and i do applaud his efforts there, but we have to realize that path alone will not be sufficient. that technology will be changing maneuver of jobs in a profound way, and that change in the nature of jobs will be the biggest change we have seen since the industrial revolution. >> in my childhood, ge, carrier, syracuse.

international business machines reigned supreme. observe at nasdaq about job creation from all these startup companies today? i don't see it. >> the one thing i think we see is a shortage of workers today for high technology companies. as much as we are talking about machines requesting people, today if you had a higher stemtion degree in a field, you would have more job offers. >>'s secretary ross, of commerce, going to initiate a smart integration strategy to meet that? what the look at president-elect has said, he has said if we have the needs, we will bring the people in. i think trump would be good for technology companies. we will have an enlightened policy with respect to h-1b. and if you go to silicon valley,

there are literally of thousands of job openings that cannot be field -- cannot be filled by americans, the skills are not there, i would think we will have an enlightened policy to bring those workers there. noted investor whitney tilson spoke on bloomberg television about his outlook on the markets, and his investments, including a short position on tesla. although the silver city deal took a big chunk out of the company's stock, he is taking a cautious approach. >> i got destroyed shorting and last time on the big run-up from 30 to 200 or something, and it has made me cautious of shorting it, partly because i had gotten burned before, but partly because uganda's -- because you can construct the most perfect b ear case on it, and the solarcity acquisition will add to their losses and is certainly added to their debt load, etc.. up, facebook

remains in the spotlight over fake news. should the social network be held accountable? axel springer weighs in. this is bloomberg. ♪

emily: german prosecutors are investigating mark sucker burgh and a number of other facebook executives after complaints -- mark zuckerberg at anothe -- and a number of other facebook complaints ofer hate speech. they provide examples of hundreds of posts denying the holocaust and expressing support for terror groups. facebook said, "the allegations like merit." meantime, the ceo of axel springer says that politicians should resist calls. the ceo made the comments in an exclusive interview with bloomberg. take a listen. i think it is a tremendous

distribution platform. i stick to mark zuckerberg's philosophy that it is about connecting people. it is a platform a bit like a telco in the old days. .t brings people together in a couple of years, it will be virtual reality conversations that we have on facebook. facebook is a technology company and a platform. it is a publisher, not a content producer. it takes no responsibility for content and should not. i think it is a totally misleading debate. -- cannot the only restriction for facebook, i think, should be the rule of law. the is against constitution, what brings people into jail, that cannot be published on facebook, but i think the whole idea that they thatd have a super editor, would transform facebook into a

global media monopoly, and that's really going in the wrong direction from various points of view. the ceo of axel springer. coming up, we dive into our weeklong for chris -- weeklong focus on industry with what the trump presidency means first solar. this is bloomberg. ♪

>> you are watching "bloomberg technology." president-elect donald trump has named billionaire wilbur ross the commerce secretary as soon

as tomorrow, according to nbc. 78-year-old was a longtime democrat who turned conservative. he backed republican presidential nominee mitt romney in 2012. house speaker paul ryan is rejecting president-elect donald trump's talk of voter fraud and independent jill stein's recount effort. any says he does not see systemic evidence of fraud. -- any evidence of systemic fraud. wildfires fueled by high winds are sweeping through tennessee, including parts of the great smoky mountains. three people have died and thousands have been forced from their homes. has found no misconduct in a mistaken air strike that killed dozens of syria-aligned forces in september. command central determined the forces were incorrectly identified as islamic state fighters.

the investigation also found intelligence and communication mishaps. day,l news 24 hours a powered by more than 2600 journalists and analysts in more than 120 countries, i'm christine harvey, this is bloomberg. after 7:30 a.m. wednesday morning here in hong kong. i am joined by bloomberg's paul allen with a look at the market. good morning. paul: good morning, christine. i.s. x has been trading for about 35 minutes now. of 1%off by about 1/five at the moment. it is the resources feeling the heat right now. five days of gains. down about 4.5% overnight. take a look at fortescue metal, one of the worst performers, down 3.5% right now. have a look at arden leisure as well, off about by half a percent as well. this is after news that it plans

to reopen its dreamworld leisure park on december 10. this is after four people were in october on the thunder river rapids ride. it books no revenue for the month of november and a one-time charge of $1.5 million. nikkei futures looking next. we are waiting on industrial production numbers for october, expected to come in flat to give us a figure of -1.3% on year. up ever so slightly after 90 minutes of trade. "bloomberg technology" is next. ♪ ♪ this is "bloomberg technology." ." energy thising on

week. first up is solar. there has been endless speculation on what the future of solar energy will look like in the united states. trump campaigned on promises to bring back: mining jobs and scrap president obama's initiative. some initiatives up the use of solar energy, which increased 30 fold under president obama. joining us to discuss the road energy, lynn jurich and cory johnson. lynn, thank you for joining us. donald trump has indicated that may be climate change is a hoax. how concerned are you about your company's future and the future of the industry under trump? at all.am not concerned renewables are here to stay. the cost performance is there, and the people want it. to highlight what voters wanted, if we look at the federal election, where energy policy gets set is more on the state

level, and there were two big places where there was voting on that, and that was in florida and arizona -- nevada, excuse me. same voters that elected trump and rubio also voted to keep solar. you are also seeing that rooftop solar is very of the moment. it creates the jobs people one. it brings affordable solar and entreated people, and it brings competition. that is a very bipartisan set of characteristics. emily: ok, but there is still the question about how donald trump deals about it. let's take a listen to one and -- one thinge real he did say. mr. trump: on energy, i will cancel job killing restrictions on the production of energy, including clean coal, creating millions of high-paying jobs. that's what we want. that's what we have then waiting for. hear him sayou

that, when you hear concern about tax credits getting rolled back, what are your thoughts? is saying is we are investing in infrastructure and jobs, and we are investing in domestic tops. -- domestic jobs. the jobs and solar are growing 12 times that of the rest of the economy. i see it's very consistent with his message. the other benefit about rooftop solar is we are competing with the price of retail power. it's so efficient and why we will win long-term. it makes sense to use existing roof drop infrastructure and produce power where it is delivered. we are now really competing with the centralized power sources, we are competing with the whole cost to actually transmit them over to the home. on tax credits, i will say that the tax credit was a policy that was extended under a republican-led congress.

that was a george bush-era policy. that's what's so great about this industry, the cost productions we are realizing make it so that to subsidize the industry makes a time of sense. it is working. it is creating jobs. buy yournne, i argument that state policy has tended to drive solar more than federal. your company,k at where you are succeeding and others aren't. -- where you are succeeding and others aren't, solarcity has massively cut their guidance as to how many megawatts they will install. they operate in the same markets where sunrun is, and they have not cut. i'm curious how you have seen the world differently than them. lynn: the benefit of our industry is that we have an available market size vastly beyond where we are today. if you look at u.s. households, we have penetrated 2% to 3%. what if you look at -- but if

you look out, that could be 20%, which means that we would deliver a 20% annual growth rate of 10 years. i am confident that the industry can sustain that. during that time. then, there could be companies -- time period, there can be companies that are over levered. nice, strong,red consistent growth, and if you look at our performance year-to-date, we are 50% year-over-year in terms of the number of megawatts. emily: the tesla-solarcity merger has been approved. how does this impact you? does a bigger tesla give them more power? lynn: i applaud the merger. we are operating in a $400 billion annual industry. that's what retail energy is. we welcome star companies, strong brands to educate consumers that rooftop solar is

here and inevitable. it is a good choice for the home. i think it will lift on both, and we welcome them to the industry. cory: to that point, on my bloomberg terminal, just by typing facf, we can look at your cash flow statement. it is a beautiful free cash flow chart, or maybe not so much. -- going through a lot of free cash flow. how you intend to reduce the free cash flow burden that you guys have been in for such a long time? lynn: we have held our cash balance flat at $200 million for over cointreau quarters. actually look at that cash balance, it has held flat, and not only have we done that, but we have held that while we have rome the business. we are investing in that growth, investing in policy, investing in r&d. we have a lot of interesting

things happening in terms of how we incorporate storage into the panels. cashe are holding our balance study. you are seeing very strong contribution markets for every company we acquire. partnershipw have a -- you now have a partnership with a big korean company that makes lithium-ion batteries. when it comes to issues like curbing trade, which is also discussed. -- which is also discussed, will that affect you guys? lynn: there are a number of suppliers in the storage market. the price in that market has declined significantly. one of the criticisms of rooftop solar has been, well, what happens when the grid cannot take more exported power? if the grid cannot take more export power, or it is more it, you puto store the battery on the system with the panel, and you actually hold that power or consume it at a time of day when that power is more expensive. tons of suppliers.

suppliertinues to be a of ours, as do lg and other companies. lynn, thank you. always great to have you on the show, as well as our editor at large, cory johnson, joining from new york. our focus on energy continues on bloomberg television. now to a story we are watching, uber is trying to convince europe's highest court that it is not a taxi service. 15 judges will decide whether uber is an app or a presentation company, a question that has xedg text lawmaker -- ve lawmakers across the region. meantime, and the united states, it were drivers are taking part in a day of disruption, the latest push in a fight for a $15 minimum wage. hundreds of uber drivers and other employees will take part in cities including new york, san francisco, and boston.

massachusetts senator elizabeth warren weighed in on twitter, saying no one who works full-time should live in poverty. up, as alibaba affiliate expected ipo in 2017, we sit down with alibaba president and senior vice president. that's next. ♪

the operator of mainline china's top mobile payment service partnered with new york-based first data last month. part of its appeal is adding more social features to the alipay app.

joining us, douglas taken. you are in town to talk lands for global expansion beyond asia. how do you make it happen? big world out a there. we are blessed to have a big user base in china. 450 million active users in china. our first step in global expansion is to serve those consumers as they travel abroad, and a look to shop, b-2 were us, and we -- they look to shop and be tourists, and we look to serve them. when chinese consumers travel abroad, we can serve them. emily: your company is made up of more than just alipay. get a quick explainer. paul: -- douglas: we started as a payment business 12 years ago. we've expanded today to do lending to small and large enterprises as well as

consumers. we also offer insurance products and credit scoring products jury of we are expanding into multiple different services -- credit scoring products. and we are expanding into multiple different services, like helping find a place to dine or order in food. anurag: there are reports -- emily: there are reports you will be going public next year. any updates on time, place, growth targets? updates at this point. we see the benefits of being a public company, but we don't have specific plans as to a timetable or venue. emily: and have you guys been watching -- obviously, there's a lot going along with the election, following the climate and some of president trumps -- president-elect trump's plans with china. are you concerned? no concerns in particular. we are very focused on our -- umers, and it really is

we are building a global business that we think will do well in all sorts of different environments. we focus on those aspects. over the last few days, there has been controversy around alipay. there were a lot of photos of scantily clad women posted, supposedly looking for wealthy boyfriends. other users were divided into groups based on their credit score. there was a big backlash. do you think those features crossed the line? you think there has in damage to the brand as a result? look, we take our network seriously and our application. we are really focused on serving the consumers, and social aspects are a part of what we do serve those consumers. as it relates to these

situations, any inappropriate content has been taken down. many of those circles have been closed. we think we have put that behind us. social networker features might you consider adding? differentave various social aspects to the business, because as we started we were just a payments tool and provided a broader range of services. we want to engage our users to think about how they shop and dine. there are a whole host of aspects that allow those users to share that information with each other and with merchants, and the merchants that to our consumers. things like circles will continue to expand, and we want to have greater user engagement so that our users are more comfortable using the app. question, have you seen the competitive landscape changing, especially in china, when it comes to fintech, when

you see the moves that companies like jd and 10 sent are making? cent are making? douglas: we continue to see innovation. we are an open ecosystem. we open with all different -- we work with all different intermediaries, and we bring the best practices of those groups lipay app and our partners' apps. we think that will help us continue to innovate and build user engagement overtime, despite strong competition. douglas feagin, thank you so much for stopping by. new fund to build aerospace technology. we will focus on the start up, next. ♪

emily: starburst accelerator has just raised its bond to invest in early-stage aerospace startups over the next few years. it is an extension of what starburst already does to help tech space startups raise money. the stakesto discuss of the aerospace startup industry and funding is starburst accelerator's ceo. thank you for joining us. you said your focus is on beat tech startups addressed toward aerospace. what does that mean? what type of technologies are you looking for? guest: it is a large number of technologies that are related to alsohers, flying cars, but enabling technology like new types of materials, batteries, fuel cells, sensors, that type

of stuff. emily: the plan is to make a lot smallertments out of a rate of $3 million to $5 million. how far does that go in and aerospace startup? biotech investors will tell you it needs to be at least $3 million to make a small difference. guest: it will be series a investments. there has already been successful with this type of investment. stocks inking at three to four years of existence and that we let go from a prototype to a more natural and address a broader market. emily: are these capital-intensive? guest: some could be, some a bit less. investmentst major

before series b or series c, we see rounds of $30 million, $40 million, $50 million of investment. is todayu say space where biotech was 15 years ago. what do you mean? more and moree looking outside their traditional r&d center for innovation. we have seen in the industry more and more technology from the aerospace industry. more and more looking outside of newdaries to look for intoology to integrate either their product organization, to bring on the markets more innovation. you have also said the u.s. is the best place to work on a narrow space startup. i wonder about space in particular, because there was a decades long break when it comes to federal funding, federal investment in space. the white house has just re-embraced it. i wonder, will it still be in

the best place under president trump? guest: what we have seen regardless of the president is massboth the administration, the ost be from the white house, they have been the proactive in putting u.s. money on the right past. path.ht more and more money from nasa is going to small ventures. emily: we did an interesting story yesterday about how china is investing more in space, and there is also russia. the u.s. cooperates with china and russia more than they have in the past when it comes to spe, but i wonder if, for example, the new white house pulls back on space investment. will that open a dangerous door? could china and russia get ahead in a way that is not good for the united states? guest: regarding the

constitution, i don't think the white house will reduce their investment in space. i don't see that coming. i think it will be more of the will be a very strategic place to be in and itad of the others, whether is any type of communication technology. emily: congratulations on the funds, starburst accelerator's ceo. thanks for stopping by. it is an engineering feat decades in the making. a structure has been relayed over reactor four at should noble -- at chernobyl. it is said to be the largest land-based removable object ever made, designed to prevent radiation leaks at the site. over the coming years, remote control cranes will work to dismantle parts inside. it is supposed to be completely finished in november 2017, and should be completely hair type

-- completely airtight for 100 years. that does it for this edition of -- of "bloomberg technology." remember, all episodes live streaming on twitter. check us out. today. all for this is bloomberg. ♪

>> from our studios in new york city, this is charlie rose. >> good evening, i am jeffrey goldberg. i'm filling in for charlie. on friday. on died it was 90 is all. event for half a century. he came to power as an accident guerrilla leader. his fixation on the united states that defined the spirit of his rebellion. his defiance around the world made him a powerful symbol