alisa: i'm alisa parenti from washington. you are watching "bloomberg technology." let's start with a check of first word news. the white house said president trump had considered firing comey. he acted on the advice of the deputy attorney general and others when he decided to fire him. russia's president vladimir putin putin says his country had nothing to do with the firing of fbi director comey. cbs news caught up with putin as he was about to take to the ice for a hockey game. he said trump was working in the constitution when he fired

comey. paris has a new weapon in its fight to win the olympic games. emmanuel macron's victory in the presidential victory will be a boost to its bid. members are likely to meet with macron during its visit that begins saturday. the ioc is an l.a. and this is the only other city that is making a bid. now turning to crowdsourcing to update software. the space agency is offering rewards to permit programmers -- private programmers who can speed up their technology. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. from washington, i am alisa parenti and this is bloomberg.

emily: this is "bloomberg technology." i'm emily chang. all this week, bloomberg tv and radio are on the ground in boston showcasing tech giants and startups, plus breakthrough technologies in the field of biotech and robotics. we are speaking with innovators, venture capitalists, and government officials across the city. we have developing news on snapchat. i will get to that in a moment. from thehyde joins us harvard innovation lab in boston. tell us what you have coming up. amazing, more than 800 companies have been incubated. i want to know the success story. we want to talk about the vertical and the area of tech that they are focusing on and also a man i cannot wait to speak to, someone who has helped fund the life wrapped -- liferaft.

the co-owner of the boston celtics. into: i want to dive snapchat's report. trading in after-hours down as much as tway 5%. what have -- has wall street investors concerned? revenue is missing estimates by nearly $10 million. snap reported 156 million daily active users also trailing expectations. are the copycat moves by the likes of instrument facebook taking a toll? aining us now from new york, lot to digest here. international growth flat across three quarters in a row. in stock-based compensation. you have been positive on snap, what went wrong here? we have been giving them the benefit of the doubt. the user number was ok. the issue there is not so much.

the bigger concern is on the monetization side. it fell to $.90, that is where the street was but you didn't want to see outperformance as far as that measure is concerned. you put that together my you get 150 revenue number of million, seven million below consensus. coming out of the gate. the issue coming into this quarter was the fact that you had a very difficult set up where expectations were skyhigh and the bias was toward the downside. performanceficult for the company to meet. emily: we have been listening in on the earnings call. he had this to say, take a listen about and revenue. question made significant progress in automating our advertising business this quarter. with more than 20% of snap at impressions delivered programmatically. automating our ads platform means that advertisers get better pricing, our community

sees better ads and we are able to make more money for impression. emily: facebook has lifted snapchat stories and sprinted across the platforms from facebook to instagram. snapchat stories are critical, this is where they display their ads. how concerned are you about the competition? >> not so much yet. the users are growing at a healthy rate and engagement is growing. we also learned that engagement has gone north of 30 minutes per day. that is a very sizable number. pick that against facebook properties, 50 minutes across the portfolio and aggregate. the engagement is there. i think the use cases are different when it comes to staff as far as messaging. the rawness of the experience as well on the content side to their discover platform. i am not looking at it as apples to apples.

if you can see a situation where for userszation increases, when you benchmarked against facebook it is 10% of where facebook is. it is time percent of what twitter is. the case for the stock. caroline: i remember the day you came out with a buy recommendation, you were one of the first to do so. 25 dollars a share still saving reasonable? the ipo priced at $17. >> just look -- based on looking at the numbers as it relates to the user growth, monetization is a question that we need to drill further on. it is unfortunate that we are not getting any more clarity quantitatively on the financial outlook as we look into the second quarter. growthe pinning than on,

will stem from the timing of our product rollouts. questions, a lot more exciting that we would like to see. the users and engagement are going in the right direction. to ask morewant broadly a question about ipo's and how this reflects. data seeingsome this could cause a bit of a cloud around the internet-based ipo's. does this make the ipo pipeline a bit more worrying when we see this first-quarter revenue numbers coming out? the ipo itself was a success. you can argue that. , it isue was interesting. the expectations got so high with the sentiment so negative. the most bearish people had the highest estimates. when you talk to the buy side can achieve that was the case as

well. it was a very difficult company, a very difficult set up. they had to do well beyond the rosiest of expectations to put the naysayers to rest. it was a lose lose situation lessonhat is a learning that potential ipo's can take. emily: snap shares are down and we are continuing to listen in on that call. you will be jumping on there. thanks so much. i will send it back to you in boston and we will monitor the call and bring headlines as we have them. on the stockells at the moment. let's bring it back to boston. we will be speaking with the boston celtics co-owner. that is next. this is numbered.

caroline: welcome back to this special edition of "bloomberg technology." live from harvard innovation lab. massachusetts leads the u.s. in capital investment for biotech. thanks to a hefty donation from steve pagliuca and his wife, the pagliuca harbored life lab opened its doors last november. it offers specialized equipment for a discount to incubate early

stages life-sciences startup. we got an inside peek at the incubator. the life lab is a 15,000 square foot incubator intended to support harvard's life lab. silk, developed at nearby toughs university -- tufts university. >> we pull one protein out of silk in solution format. we are reengineering silk to encapsulate and protect that. caroline: the cofounder and ceo explains this small patch is made of hundreds of vaccinated microneedles that are wrapped in a silk protein. it makes vaccines easier to administer and, more importantly, eliminates the need for refrigeration. >> it is something i can administer much more easily. secondarily, this patch is shelfstable.

we can ship it around the world without refrigeration, which is a major challenge with a lot -- all of the vaccines on the market today. caroline: to remain effective, all vaccines need to be kept cold from point of manufacturing to end patient. these shelfstable vaccines could make it easier to vaccinate the entire world. >> it is roughly $30 billion. the burden of the cold chain is anywhere from the $4 billion to $6 billion range if you think of it from a global perspective. the opportunity to expand access is a pretty compelling goal. caroline: founded in 2012 when he was a student at harvard, the startup has raised $13.5 million in funding, including grants from the bill and melinda gates foundation, to help in the eradication of polio and measles. they are funding us to develop

the polio patch that is heat stable and combines three dosages into one regimen, so we can get patients appropriate vaccination levels. caroline: they are partnering on infection mimicry come a new vaccines for herpes and prostate cancer and collaborating with m.i.t. on hiv vaccines. the company plans to enter the clinic in early 2019. as for life after the harbored -- harvard life lab -- >> we are happy to call massachusetts home. i think it is unmatched in terms of talent availability, access to partnerships. it is unique ecosystem we have here. caroline: joining us now is the man behind the name of had pagliuca harvard's life lab. steve pagliuca, here in part of harvard university. what made you fund the life lab that is the other key lab here? steve: when i was running for senate, one of my campaign

promises was we would protect biotech here and life sciences. i wrote an editorial saying, we've really got to not let that leave, like technology left 20 years ago for silicon valley. we have a different structure here, the best universities, the best hospitals. that idea started five years ago. i think the deans came up with the idea of building a facility that would allow these startups to stay here instead of leaf, -- leave, be cost-effective, and try to grow companies. caroline: were you worried about a brain drain? steve: we could see it already in the tech industry. 25 years ago, we had digital equipment. many of the technology companies got bought and went to california. the mayor got involved. the governor. they promoted the life sciences. you can see the results of it now. caroline: it sounds as though innovators and entrepreneurs are committed to remaining in the

area. in terms of competition when you're looking globally or in america, are there areas you feel you can harness the crown away from or have to fight off? is the talent pool rich enough? steve: i think the talent pool is probably the richest in the country here in the boston, massachusetts, area because of those universities, because of the hospital complex and the technology we have here as well. i think we have the crown. we don't want to lose the crown. something like the life lab can really promote that. it gives easy access to companies. there are eight different schools that have access to the life lab. 15 businesses. you've just seen one that is very exciting with vaccination. all sorts of projects going on. when you have that kind of they tally -- of vitality, they can start here and stay here.

caroline: you know investing well being at bank capital. -- bain capital. is biotech an area you would want to see for future innovation, but also as a reward? steve: absolutely. there are many biotech funds, life sciences funds in the boston area. we have announced a large fund that will focus on a later stage than this. there is an ecosystem financially developed so these companies can get angel capital, then moved to venture capital, then move to private equity capital. caroline: what about from a public point of view? there has been concern, particularly with the new administration in the white house, that the tap would be turned off slightly for biotech funding. what about longer-term? steve: hopefully the white house will look at this and see it's good for america and the economy. they certainly ran on that platform. secondly, we have been supported locally by our governor and our mayor. the mayor was here at the opening. the mayor and the at -- the

entire administration of boston helped get this facility up in record time. the biotechnology council, harvard university, harvard business school, the community -- it all came together rapidly. 15 businesses already up and running. it's very exciting. caroline: what about diversity in terms of the pool of people you see here? is that something you have been able to prioritize? steve: absolutely. my wife was heavily involved. she is a tech investor. my daughter-in-law is a cofounder of a biotech company. they got together and worked with the university here to make it very family-friendly. we have rooms for women, rooms for birthing mothers to bring kids, breast-feeding, all of the kinds of things to make it a very friendly and easy environment to work for everyone. caroline: fascinating. i will be digging into some of your investment theses. steve pagliuca, bain capital managing director, will be sticking with me.

much more ahead from our special coverage in boston. we are also broadcasting on bloomberg radio at 1200 a.m. bloomberg is the official broadcasting media partner and cosponsor of the boston pops fireworks spectacular on july 4. this is bloomberg. ?

caroline: we are live from the harvard university innovation lab, showcasing the power of boston's tech economy. the city's basis as a tech hub could not have happened without bain capital. with me is none other than the managing director and cochairman, steve pagliuca, also co-owner of the boston celtics.

you have the shamrock on your tie today. before we dive into the nba, i want to dive into some of your investment hypotheses at the moment. we see record low volatility. you're looking at stocks at record highs -- we are looking at stocks at record highs. what about private equity? steve: prices are high cyclically. that is why at bain capital we try to be disciplined in times -- terms of the deals we do. we are looking for transformational opportunities. three of the big companies we have in the portfolio, we bought two companies at once and put them together to form a stronger, more strategic company on a global scale. looking at areas we know very well, technology, health care, industrial, consumer, we've had great success of that strategy -- with that strategy of being disciplined. great thing about private equity is it is not the stock market. you can take a long-term approach. we tried to find -- we try to find companies where we can

invest in new products, where we can find a way to take them global. those are the opportunities we pursue. those are the only opportunities you can pursue in a market where prices are fairly high. caroline do you think we : will see more m&a? do you think we will see more public companies becoming private again? steve: when you pay a premium and prices are already high, it is difficult to make the numbers work in terms of private equity. there is a role for private equity in these transformations. these companies that have kind of lost their way and need a restart, they are companies that need a different approach. there are companies where you can transform by increasing the m&a process, by taking them private. so far, we have found plenty of those opportunities. we tried to be disciplined. so far, it's been a great result. caroline: talk about transformational opportunities. sports was a transformational

opportunity when you took over the boston celtics. it's been a process of reinvigorating. what business opportunities did you apply to that? you are potentially in the run for champion. steve: it's been a great labor of love. with groesbeck, who i was able to partner with, we both came from a venture capital and operations perspective. we came in with a strategic plan that involved three things. one, we wanted to build a championship team. that brings fans and excitement to the city. the second was we really wanted to improve the fan experience. the previous ownership had not invested in large jumbotron, had not invested in technology. the third was to make a community impact. we formed the boston celtics shamrock foundation. that foundation has become a philanthropy.

then finding a spectacular management team led by danny ainge -- just incredible -- has led to a championship in 2008. hopefully we are on the same path now. caroline: isaiah thomas has been someone who has been focused on. how hard is it to withhold from offering him a longer-term contract? is that something you would be willing to do? steve: we don't talk about that. danny ainge handles most of that. isaiah thomas has been a real profile in courage. i was able to go to the profiles encourage dinner on sunday night. you look at isaiah thomas. had a tragedy in his family, lost his teeth, and still playing for his teammates and his teammates playing for him. now, battling a great washington team. it's been very inspirational for me personally and the entire celtics family to watch isaiah fight through this and do it in such a professional and team-oriented way. it embodies everything you think

-- the good things about the celtics. caroline: when you say you have tried to foster the community and make the fans so much more engaged -- many people are worrying about nba teams hogging the best players. how much does that affect the business of the nba? steve: your objective is to get the best players. there's nothing wrong with that. you have to plan for that. danny has done a fantastic job. he takes a five-year perspective in terms of trying to build a championship team. we have a high draft choice. we have the highest probability to get the first pick through trades we pulled off. the combination of getting young players, getting free agents, and making beneficial trades can bring you a championship. danny seems to have found a great formula. one of the keys to the celtics' success is we have backed great folks. we have the same folks in place almost longer than anybody in the nba, and it has paid dividends. patience has paid dividends.

caroline: good luck tonight. much more from boston, coming up next. this is bloomberg. ♪

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maker of a quality concern over low-pressure turbine's which was seen as an easily fixable issue. boeing expects to deliver the first planes later this month. shares fell on the news but recovered somewhat by the close. softbank's earnings reports made interesting reading, operating profits up 600 $58 million, less than half of that 1.5 alien analyst had predicted. millionings of under $5 was a most 10 times what analysts had expected. softbank declined to give an earning outlook citing numerous uncertainties. snapchat's parent plunged in after-hours trading after missing earnings and user estimates. snap reported first-quarter revenue of $149.6 million low forecasts of $158.6 million. 14%age revenue was $.90, a quarter on quarter fall from last year. new usage than

expected in the face of growing competition from facebook. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. juliette: it is all looking pretty good thanks to the record high on the s&p 500. we have new zealand again, leaving the official cash rate on hold at that record low, 1.75%. also a lot of buying coming through in these emerging markets like malaysia and south korea, the index at record highs of by .8 of 1%. you can see some mixed movement coming through in the commodities space, iron ore down 5% but check out the rebound we have in the crude, wti, and brent because that is driving the search we have seen and energy players across the region. here's what the new zealand dollar has done, fallen the most

since the november election after the rba cited rates will be lower. lower inflation as well. the kiwi is holding at levels we have not seen since june last year. that is a check of asian markets this wednesday and thursday. caroline: this is bloomberg technology reporting from boston all this week. we are at harvard university innovation lab. designed to help students collaborate and potentially come up with breakthrough ideas. just this week, it held its presidents innovation challenge. more than 200 student teams applied with their best ideas to solve social issues within the fields of health and life sciences. focusing on problems as varied from hiv to personal bankruptcy. we sat down with harvard president drew faust to discuss how this place fosters innovation.

>> i think we have such a vibrant innovation community in so many dimensions. it's exciting to see it growing. it's exciting to see the output. i think that having mark zuckerberg come back is going to be a great moment for everyone to celebrate him and to remind ourselves of the many ways in which we have been innovators and will continue to be innovators. caroline: looking at one of the ways you are innovators is ilab. the fact that you have accelerators here, ways in which you can help foster growing how has it helped build new companies coming out of harvard? drew: the ilab was founded in 2011 with the notion that providing people with space and support, things like venture funding, building companies, bringing ideas to the commercial world, with that kind of help, we could enable students and

faculty to really follow their ideas and their dreams and make them tangible realities in the world. so, it's turned out to be a success beyond even our fondest dreams, as people have flocked to it. we now have more than 75 companies that have come out of the ilab. we have every year something called the president's challenge, which i sponsor. it is students and groups of students competing for funding to move their idea to the next phase. that's always really exciting to see the things they have dreamed of and then to be able to pick some winners. caroline: you yourself are a historian by trade. how do you feel the multidisciplinary focus of harvard helps to foster this var of technology companies? drew: when i think about history and innovation, i do think they are closely linked. i believe that understanding that things have been different enables you to think that they

can be different again. if you just accept the status quo and don't understand what has led to the different paths that got you to the status quo, i think you are in him and it in your ability to figure out -- you are inhibited in your ability to figure out what made -- might take us new directions in the future. more generally, i think liberal arts and broad-gauged education stimulate ideas. they challenge people to get out of their comfort zones. if i shift this perspective, what can i do differently? we see this in the ilab. many of the teams come together, darw -- draw on different individuals from different schools. they can think together about policy questions, regulation questions, organization questions, but maybe the product they are thinking about is a scientific project. someone from one of our science schools or departments will be

part of that team. i believe that this wide-ranging approach enables people to think more ambitiously. caroline: we are talking about diversity here, aren't we? what about diversity of ethnic origin and, of course, we both sit here as females, women in engineering? this is something that the tech giants are struggling with, how to get enough women and diversity into their doors. is this something that you think is coming through the ranks? drew: we've seen a great growth in interest in stem education in harvard. we established our school of engineering as a school in its own right in 2007. since that time, we've had a tripling in the number of students who want to concentrate -- major in that area, but a quadrupling in the number of women who have gone into engineering. and that -- they make up about 35% of our engineering

concentrators. we think they should make up half, and we will keep striving for that. i do think this diversity relates to what you spoke about earlier, which is we have tried to say that engineering is a liberal arts field. whatever you think you might be interested in, engineering could have a place in that. if you're going to be a citizen of the 21st century, you need to understand technology. we have tried to cast a very broad and open gate. often in the past, science studies challenged people by saying, if you are not going to be einstein, you don't belong here. we are going to flunk everybody out and make it really impossible for you to succeed. we have a completely opposite attitude, which is, come, try this out. we want to give you a path to succeeding because we think it is so important. i think that has helped us a lot in diversifying the students in the field. and this goes beyond gender. it includes ethnicity as well. caroline: what have you learned

over the course of building up that diversity that you can give to business leaders that perhaps are still struggling and looking for ways in which to make sure they have more diversity? drew: rather than my giving pearls of wisdom, i think we can learn a lot from each other. i think partnership as we seek to understand how to nurture the kinds of attitudes and the kind of career choices and pathways that make these attractive to students -- i think it is partly how we educate people and how we help them to understand what a career in science or technology could mean, but also how career opportunities are shaped, how companies recruit, how they support individuals. so, i would hope they could have a lot of back and forth and collaboration about those shared commitments to diversifying the workforce. caroline: that was drew faust,

president of harvard university. now, let's check back in with our top story this hour. snap reporting 8 million new users were added in the first quarter, falling below expectations. shares tumbling more than 20% in after-hours trading, wiping out about 6.5 million -- $6.5 billion in market cap. evan spiegel commented about the interest in user growth. >> ultimately, i think the way we try to help people understand how we think about daily active user growth is through the lens of creativity and creation. we built our entire business on creation. one of the things we talk about a lot is this idea that anytime someone creates a snap, they send it to their friend, which brings that friend into the snapchat ecosystem, for they added to their story, which contributes to time spent as they provide that content to all their friends. caroline: much more over that story throughout. much more from boston still to come as well. this is bloomberg. ♪

caroline: the harvard innovation lab is aiming to give its future innovators a leg up. open to students across the university, it offers a unique space for collaboration. a key initiative is its venture incubation program. every semester, teams apply to participate in the 12-week program that combines mentorship, workshops, and introductions to funding to help move the startups further and faster. select teams move on to harvard's lynch -- launch lab. we got an inside look at one of the companies in the program. the harvard ilab helps students

grow their startup. launched in 2011, it's a 12-week program that moves ventures further faster. one of them is shield ai. >> my combat experiences in afghanistan led me to found shield ai. it was basically a recognition, which a lot of people have, a lot of combat veterans have, that technology could prove very useful on the battlefield if it was autonomous. caroline: brandon tseng founded shield ai in 2015. he is earning his mba from harvard business school. >> this drone is different from the others you see on the market today because it doesn't require a pilot. it is autonomous. they are following gps. our drone does not require gps to navigate. using simultaneous localization and mapping, which are a lot of the same technologies you see in

driverless cars, it is able to navigate its environment and identify threats. caroline: the company has raised $10.5 million in funding. >> harvard's network is incredibly powerful. it allows you access to people with capital. caroline: and currently has contracts with the department of defense and the department of homeland security. shield ai exists in a fast-growing market with competitors. the global market for commercial applications of drone technology, estimated at about $2 billion in 2016, will balloon to as much as $127 billion by 2020. shield ai plans to deploy its first product later this year. the mission is far from complete. >> down the road, there are certainly other applications, search-and-rescue, law enforcement are the first ones that come to mind, but there are other applications that are interesting. but we are really focused on our

mission, protecting service members. and innocent civilians with the systems. caroline: now with more on how harvard's innovation labs are helping students, we are joined by the managing director, jodi goldstein. we are just hearing about drones. you've had 800 incubated here under your tenure. what areas of this -- of specialization? is there any sort of theme? jodi: the theme is diversity and breadth of ideas. it is inspiring so many ventures coming up with new and novel ways to solve big problems in the world. caroline: let's talk about the diversity of that. where are your students building these businesses coming from? are they largely u.s. based? are they coming internationally and that is under risk in the current administration? jodi: we are so fortunate to have the best and the brightest coming from all over the world to attend harvard. we support all 13 harvard schools. students are coming together to the ilab to collaborate. we nurture and support

innovation. caroline: it's interesting that some of your better known alumni , mark zuckerberg, bill gates, dropped out the guys they had such good ideas. is this almost a way -- dropped -- is this a way to steer your students? jodi: our reason to exist is to support and nurture innovation. a natural, happy byproduct is that students no longer need to drop out. it's better if they stay in school. the amount of resources and the community that they find here of like-minded entrepreneurs, coming from a diversity of backgrounds and skills and interests, allowing them to meet around a shared passion -- that's where innovation really happens. caroline: it is so hard to do when you have had 800 children grow through this. are there any real success stories outside of these hollowed walls that we would have heard of already -- these hallowed walls that we would have heard of already? jodi: so many of our ventures

are actually going out into the world and have a lot of traction and have raised a lot of money and are on their way to success. we are super excited for them. caroline: i've heard of a couple. handy is one that i personally use. what about some of the pain points? you yourself were an entrepreneur. what do you find the entrepreneurs come to you most for guidance? jodi: finding like-minded entrepreneurs, a supportive community that sits alongside the academic curriculum, giving them an opportunity to put their ideas to use, to iterate, to fail with no consequences. if we can help them do that while they are in school, get them further, faster, increase their likelihood of success by offering them access to resources, space, advisers, mentors, workshops i'm a skill building, we really do think

that we can put them out into the world poised for success. caroline: six years and already 800. it's been great having you here. thanks for hosting us as well. it is a grace -- a great space to be in. that was jodi goldstein, managing director of the harvard innovation lab. coming up, robotics take center stage here in boston. i will sit down with the ceo of irobot, colin angle. this is bloomberg. ♪

caroline: welcome back to this special edition of "bloomberg technology." i'm caroline hyde. we are live from boston all this week, showcasing the innovation that the city's tech is bringing. robotic companies are combining

software, machine learning, and technologies in one product. one company doing just this is irobot. shares hit an all-time high after the company updated its outlook for 2017. many people know you for the roomba, the robot that helps clean up your floor at home. how much has the boston ecosystem helped build the success story we are seeing here? colin: the innovation required to go and create something as new as the roomba requires innovation, requires people with new ideas, and access to enough -- a body of talent to come in and go create these inventions. the boston educational system is second to none in the world, and we have been able to go harness students coming out, and here we are today. caroline: you also harnessed new board members. when you brought those new members on board, they were looking at internet of things.

these were areas you said this is why you should have them on. what is next from irobot? colin: the smart home is becoming a very important thing. as more and more things get connected in our home, we have to deal with the question of how do we organize and control it. you might think that's an ai problem, but it's really not. it's a problem of understanding what's going on in the home so the house can do the right thing. what's the point of understanding the sentence "please go to the kitchen and get me a drink" if you don't understand what the kitchen is? the role is to help the home understand itself so the smart home can actually be smart. caroline: your home can be smart in the united states. what about regional demand? are you seeing any hotspots pick up? where are you seeing demand for your product? colin: the extraordinary growth we are enjoying is broad-based. we are seeing growth in europe, growth in china is fantastic,

and japan. one of the interesting things is one of our newest product launches, a floor mopping robot, is doing fantastic particularly in asia, where hard floors are far more common than here in the states. it has grown to outpacing the growth rates of roomba by significant margins in asia. caroline: a mopping robot -- get me one of them. i am thinking closer to my home, europe we have dyson, a private , company. you went public back in 2005. there have been some activist investors who sometimes question the r&d. have you been able to commit to the development you really need? and the money you need to put into that? colin: the success of our strategy is evident in the success the company is enjoying. we can't just invest optimize for today. we need to go and come up with the technologies that are going to allow the next generation and

the next generation to truly differentiate ourselves from the competition. doing that as a public company is possible if you have investors who understand this, so that, yes, we need to invest in r&d. we need to develop a very exciting bottom line and growth rate. it's a balance of things, which i don't think is a bad thing. i think it can be successfully accomplished by attending to profitability, r&d, and growth responsibly. caroline: you talked about the talent pool that is so well fed here in boston from the academic institutions. you've got offices in london and in asia. how are you talking to the institution -- how much is the government affecting your business decisions here in the u.s. when it comes to talent pool, immigration? is that affecting your business at all? colin: it is something we watch very carefully and we are concerned about. thus far, nothing has happened that would dramatically impact

our ability to operate. our international diversification is important. having engineering labs and capabilities outside the united states is something that is interesting for us to ensure that we have access to the global talent pool that innovative companies truly require. so far, so good, though. we have the majority of our resource and development here in boston and california. caroline: wonderful getting your insight and expertise as to what boston has to offer you and how we can all keep our hands -- ho -- our hands a little bit tidier with the help of the robot. that does it for this edition of "bloomberg technology." on thursday's program, we will be broadcasting from general electric's temporary headquarters after breaking ground this week on a brand-new complex in the heart of boston. we hear about the project from the cfo. this is bloomberg.

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>> the following is a paid program. the opinions and views expressed do not reflect those of bloomberg lp or its affiliates or employees. >> hold up. i want to ask you a question. how do you feel when you look at yourself in the mirror? gross? who is this person? you know you have to do something, but it is so confusing. there is fad diets, extreme workouts, but it is not working for you.