emma: i am emma chandra and you are watching "bloomberg technology." let's get a first check of the first word news. in his first speech with the un's general assembly president , trump didn't mince words when it came to north korea. president trump: the united states has great strength and patience. but if it is forced to defend itself or its allies, we will have no choice but to totally destroy north korea. emma: the president told delegates that kim jong-un's pursuit of nuclear weapons poses a threat to the world. hurricane irma caused up to $65 billion in property damage. that is according to a preliminary estimate. the real estate research company says an estimated 80% of flood

damage was to homes without flood insurance. meanwhile, officials say one person has died on guadalupe after being hit by a falling tree. it is the first death attributed to the category 5 hurricane maria. two people are missing after their boat sank. about 40% of the island is without power. a mexican state governor says at least 42 people are dead after a powerful earthquake struck near mexico city. it is mexico's second major earthquake this month. president enrique pena nieto, who attended the un's general assembly in new york is , returning immediately. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. chandra. ♪ emily: i'm emily chang, and this

is "bloomberg technology." coming up, higher learning courtesy of udacity. they just kicked off of their introduced -- introduction to self driving cars, there nano degree program. we will hear from the founder. plus, twitter's direct message on terror. the company flagged 300,000 accounts that it said promotes global extremism. how effective can it be at limiting the spread of hate? we will discuss. and equifax continues to unravel. the credit monitor was hit before hacker -- hit by hackers months before it told the world. first, to the lead. a group representing u.s. venture capitalists is suing the trump administration over its decision to delay enactment of an immigration rule impacting foreign entrepreneurs. the suit says the department of homeland security violated federal administrative rules when it delayed the start of the international entrepreneur rule.

the rule would permit international entrepreneurs with an ownership interest in u.s. based startups to stay in the u.s. for 30 months or more to build businesses. some criteria they would have to meet include starting the company within five years of applying owning at , least 10% of the venture, and having qualifying u.s. investors totaling at least $250,000. , critics call it a stopgap measure that could complicate the risks associated with business in the u.s. with uncertain foundations. joining me now to discuss, bobby franklin, the ceo of the group leading the suit, and eric hippeau, from lerer hippeau. alex, i will start with you. what do you make of this? alex: it is an interesting lawsuit that will prove a test case. it is not the only role the obama era rule the trump administration has thought to delay and eventually get rid of.

the suit challenges whether the obama -- the trump administration can do this without opening up a comment period first. it is a weird rule they are trying to resend. it would seem they would normally fit into the category of immigrants the president would like to see more of in the for a states, advocating merit-based immigration system. but what is happening is twofold. one, trump has tried to establish his legacy as erasing obama's legacy, including every role obama issued, late in his presidency. two, there are serious immigration restrictionists who believe there should be lower immigration, overall. by repealing this rule, those folks are probably trying to achieve their goals. emily: bobby, why file this suit? what you hope to accomplish? bobby: we hope to get the rule

enacted. we hope dhs is in position to accept applications. this is about a competition the u.s. is in with the rest of the world. other countries are ruling out -- rolling out red carpets. you look at canada great , britain, france, singapore. all across the globe, they recognize there are talented entrepreneurs and they are trying to attract them to their countries to start and grow this new company on their soil. what are we doing? we have red tape. it is not a partisan issue. it is not against president trump or president obama. in fact both of them have talked , about the importance of bringing international entrepreneurs that can get capital anywhere across the globe, bringing them here to our country and making sure we grow u.s. jobs and the economy. emily: you are an immigrant and entrepreneur, eric. what is your take? eric: my take is that foreign entrepreneurs coming to that and -- to the united states is a

very desirable thing to do. about half of our companies have at least one member of the original team, the founding team, who is an immigrant. i am an immigrant. these are people who make huge contributions to our economy and society. i don't see why we would make it difficult for them to come. as bobby just mentioned they , could go elsewhere. they could go to canada, france, other places. we are competing with other nations. emily: obviously, president trump's explanation is creating u.s. jobs, making sure u.s. workers have a place to work. what about the idea this is merely a stopgap measure anyway, when immigration reform in general is broken? bobby: it is broken. we have been working on this issue for many years. back in 2013, we had the opportunity to get a startup visa passed through the u.s. senate, but it didn't make it all the way into law. each year we work with congress to try and get them to pass legislation. there are bills in this congress introduced by both republicans

and democrats that would create a startup visa to make it easier for these entrepreneurs to come here and start companies. but in the absence of legislation making it into law, we have to do what we can. dhs promulgated a rule. they went through comment, and notice, and we had a rule ready to take effect july 17. one week before that, dhs decided to rescind that. we don't think they follow the -- follow the proper procedure under the administrative procedures act, and it is the only thing we have to go on right now to get more entrepreneurs here in our country. emily: alex, obviously there have been conflict in measures -- conflicting comments from the administration. what are the next legislative steps we actually expect to see in the coming days and weeks when it comes to taking action on what the president has signaled? alex: the priority in the immediate future is to do something about daca, the so-called dreamers, the young immigrants brought illegally by

their parents. democrats say they struck a deal with trump to handle that issue. i have not heard anything, any kind of a legislative resolution on this issue. i would not expect that to be tackled by congress in the near future, if at all. perhaps it could be part of a comprehensive immigration bill, but that is way in the future. that is not even under consideration right now. emily: have any of these moves impacted your entrepreneurs in any way? our people nervous are they , changing their plans? eric: by definition, we back people here who are here legally with a visa. the community is nervous. the community is saying -- well, i was welcome when i came here. this is my dream. my dream is the u.s. this is why i'm here. why is this changing? why am i not part of this great community?

there is a great degree of anxiety within the community. emily: bobby, any response to the lawsuit so far? bobby: not yet. but we will take the next steps. we will likely file an injunction to get dhs to move forward. stay tuned. emily: bobby franklin, ceo of the national venture capital association, alex wayne from bloomberg news, and eric hippeau, my guest host, you are sticking with me. a story we are watching, twitter announced the appointment as a new independent director. he served as cfo of google. this was from a 2008 to this 2015. move is effective december 1. in a separate move, hugh johnson will resign his seat on the twitter board, effective october 1. he has a new director role at microsoft. coming up udacity , has partnered with lyft. to work on self driving technology.

we hear from the founder about the deal and the future of autonomous cars. and "bloomberg technology," is live streaming on twitter. , 5:00 p.m.t weekdays in new york. this is bloomberg. ♪

emily: uber is suing such media

for fraud alleging the ,firm build a company for fake online ads, and took credit for downloads it had nothing to do with. it is owned by the world's fourth-largest advertising company. uber is seeking $40 million in damages. tech crunch disrupt 2017 kicked off this week in san francisco. one person in attendance, udacity founder sebastian thrun. they announced registration for a new intro to self driving cars, nano degree. this is alongside new partnerships with lyft. the udacity founder joined bloomberg tv from the event earlier to discuss the partnership. >> everybody is talking about the self driving car. if they succeed, there will be one million jobs on the line. we want to help everyone to become an engineer in this space and be a contributor.

when you come to udacity, you can learn how to be a self-driving car engineer and join many other companies in building these amazing technologies. reporter: and partnering with lyft on these scholarships, are you aiming to target women and minorities, those who might not be typical applicants? >> yes, udacity has a very strong social mission. we try to bring in minorities, women, people of color. we have a strong presence in the middle east to make sure young people in the middle east have a new perspective. the core of this we care for , people to learn something interesting and participate. so many people are left behind. smart people are left behind and universities are not taking care of us. at udacity, we try to reach people of all ages, ethnicities, all financial backgrounds. reporter: i want to ask you more broadly about what's going on in the self driving car space. clearly there is a great deal of excitement.

what we have seen from the likes of google and apple is that they , haven't fundamentally recalibrated plans. why do think that is happening? what is it about the industry forcing them to make these changes? it is a tough, technical problem. we do not yet have a car where you can follow sleep and drive safely. but the race is on. in the last two years, the number of startup companies joining the game has been staggering. if you look at the automobile industry today, the self driving car is the hottest topic. reporter: but how do you know you are creating a training program that will actually be right given the speed at which the technology is adapting and moving, and how much does it cost? what job translation have you seen of the students that are taking your program? how many are getting jobs in the industry? >> the program costs less than $205,000.

which is nothing, compared to college tuition. the university builds its content directly with companies like mercedes, google, and tesla. those companies vouch for it, they are creditors. the original program launched last year got over 40,000 applications. even though -- over 60 people already found jobs in companies like ford, volvo, google, and others. it's a new way of teaching and building a university. we strongly believe companies that hire our graduates are the ones who should be responsible for the syllabus and making it perfect. reporter: are you going to be signing up with the likes of tesla and apple in the future to provide them with talent to facilitate growth in this industry? is that your plan? >> that is something we have been doing all along. when it comes to udacity, and deep learning, artificial intelligence, those

are big topics. the people who instructor from ibm, at&t, google, and leading companies. it is a platform that gives the leading industries a voice to reach people. take the classes, they have a better chance of finding a job. we have been operating for many years. roughly half of our students find a new job within the first six months of graduation. emily: sebastian thrun, speaking with the bloomberg tv from the tech crunch disrupt conference in san francisco. coming up, the biggest cities in america are bidding to be the next location for amazon's second headquarters. which locales are at the top of the list? we will discuss. this is bloomberg. ♪

emily: with a little less fanfare than apple last week, amazon is out with an update to one of its products. they debuted a new version of its fire hd 10 tablet with a high definition screen to watch ofeo, and up to 64 gigabytes storage with a lower price, and , a processor that runs faster. the most significant new feature hands-free voice , control, which lets people do similar acts like the echo speaker introduced earlier this year. it will be available next month. amazon is still on the hunt for a city that could be the home of its second headquarters. if the new york city secures the bid brooklyn could be the big , winner. the $5 billion corporate compound is expected to create 50,000 jobs over the next 15 to 17 years.

a new york city real estate firm says brooklyn's reputation as a hub for millennials could give it a leg up, although the borough has come up short in attracting big-name companies. with this, eric hippeau, we have to talk about this because we are in new york. what you think the likelihood is of amazon ending up here? eric: we would love it. 50,000 tech workers in brooklyn would be fantastic. i think the chances are low. new york is a very expensive place to set up a business. in the current administration, new york is not particularly business friendly. i'm not even sure new york is bidding. emily: where is business friendly? eric: i was talking about the local administration. i think new york should be looking for those kinds of opportunities, because those are the kinds of jobs that are higher-paying, information-based. i don't know that the city of new york is actually even

actively looking at attracting that. emily: what do you think amazon should be looking for in a second headquarters? it cannot build out headquarters in seattle. they are at capacity. what should it be looking for elsewhere? eric: i think it needs a city or a place where there is a lot of higher education, a lot of young people who are looking for the jobs of the new economy, and a business friendly environment. emily: we do have a sound bite from the mayor of philadelphia. obviously, a lot of cities are competing for this now. take a listen. >> we have gotten criticism about corporate tax breaks, but this is too big of a deal. it is too many jobs and too great of a company for us not to go after it. we would love to have them here. we have a lot of people who could use the work, and we have i.t. startups and tech companies who have come into philadelphia recently. emily: how does the city benefit?

eric: you do have to give them some tax breaks, i imagine. on the other hand, you are providing 50,000 really good paying jobs for people who are paying taxes themselves and who will buy local products and services. it's a definite plus for the city. new york just opened cornell tech. bloomberg was involved in that. it would go really well with attracting the second headquarters of a big tech company. emily: i wonder if new york would do a good job of attracting younger talent. who does not want to move to new york? eric: exactly. it's a great place for a startup. most people love new york. there's a lot of diversity and things to do. but the city needs to have a plan in place to attract a company like amazon. emily: how would you describe the evolution of the new york tech scene? it has always played second fiddle to san francisco. the scene is changing.

how much closer is silica and alley to silicon valley these days? eric: the silicon valley of new york is the second-largest in the u.s., one of the largest in the world. new york does what is good at. software development, applications and services. we are not going to be reinventing the plumbing of the internet. we are not going to create the next generation of routers. however, we are starting to see robotics companies all kinds of , companies in all sectors because we have access in new york to the same technology people in silicon valley have. emily: when is that $10 billion company coming out of new york? eric: hopefully, it is in the pipeline. there are a number of companies that have achieved billion dollar valuations that have the potential. emily: eric hippeau, lerer hippeau ventures, you are sticking with me. thank you. speaking of sprint and t-mobile masayoshi son, sprint's ,chairman and ceo and founder of

softbank sat down with a , wide-ranging interview. rubenstein asked if he thinks the deal will get approved. >> i don't know, but it is their decision. i think it makes sense not to have just a huge monopoly with such a big market share making a ton of profit. instead of two gigantic oligarchies, a real fight is better. at the same time, we have another company as a possibility that we may consider to do it. we have not decided one or the other. emily: masayoshi son, chairman, ceo and founder of softbank on "the david rubenstein show," that airs on bloomberg tv.

coming up, a twist in the equifax breach. new revelations that equifax was attacked five months before it was revealed to the public. check us out on the radio. listen on the bloomberg radio app, bloomberg.com, and on sirius xm. this is bloomberg. ♪

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across all your locations. hello, mr. deets. every branch running like headquarters. that's how you outmaneuver. . i am paul allen with the latest first word news. president trump has threatened to destroy north korea, saying kim jong-un is on a suicide mission. making his maiden address to the united nations, the president said the u.s. was ready and able to protect itself and its allies, and would respond with overwhelming force, if attacked. he described kim jong-un as "rocket man." twosteel --ber steelorld's number two

it is already in talks with local mills at increasing capacity to 100 million metric tons from 70 million. it would bring it closer to the global leader. uber is said to be reviewing its operations in asia after notifying u.s. officials about payments made in indonesia. the news comes with uber facing a federal investigation into possible violations of overseas bribery laws, turning the focus on at least five countries -- china, india, indonesia, malaysia. a web of allegations may have influenced the lawmakers. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. >> i am sophie kamaruddin with a check on the markets. equities looking mixed. the kiwi stocks maintaining, despite this morning's earthquake.

chinese stocks led higher while other stocks support gains for the hang seng. three to six months for the hang seng. shares in manila gaining. the peso rising ahead of thursday's planned protest. the yuan stronger for the first time in three days. despitelittle changed this morning's stronger trade data. japanese stocks taking a breather. household gainers, softbank climbing, amidst talk of the merger between sprint and t-mobile. by thed original benchmarks jumping over 16%, the best performers today. we do have telecom leading the laggards here. check out what is going on with toshiba. the stock resuming gains for a second day.

they have decided to sell the chip unit to the bain and incj-led consortium. that is your market snapshot here in hong kong. ♪ emily: welcome back to "bloomberg technology." i'm emily chang. now, to a story we are following. more bad news for equifax, the credit monitoring company that revealed they also suffered a major hack back in march, nearly five months before they publicly disclosed. the company claims this was not related to the july 29 hack that exposed sensitive data of 143 million customers, a breach it did not reveal until september 7. after bloomberg reported on the march breach, the company says they experienced a security incident involving a payroll related service during the 2016 tax season. 100,000 canadian customers were also affected by the september seven breach. joining me to discuss the latest

in the ongoing saga, mike riley, and still with us, managing partner at lerer hippeau ventures. it is so hard not to read these stories and get incredibly angry. it gets worse and worse. what doing all about this new breach and what they knew before they told the public? mike: we don't know a lot, because they are not being clear, but we do know they had a major security investigation going on starting in march and going through may. they hired the same cyber security firm they brought back in july, and they did a pretty extensive investigation for three months. that is a pretty expensive prospect. the most interesting thing if , you look at the timeline of the july incident, the hackers, even though they found out about the theft of data in july, when they did the investigation, they discovered the data was stolen in may, which would have put it in the middle of the earlier

investigation. there is a question of why that was not found some a company like mandiant examining your networks and just miss the presence of a hacker in your network, and the theft of this kind of data? it also raises questions about what the executives knew, and when, and whether they knew the company was having multiple security problems at the time they were doing trades in may and late july, early it raises august. all sorts of questions. one thing that is clear in a , data breach like this, you want to be as transparent with the public as possible, and as early as possible. we just keep getting a trickle of new information almost daily now. emily: it feels like a mess and it feels like they are not being transparent at all. eric, you probably have a credit card. you are probably among the 143 million people like everyone

else. eric: it is shocking to me as a -- that the ceo is still ceo of that company. what we are realizing here is that our data is ending up in these credit service bureaus without us knowing about it. we suspect, we have a credit score, but they collect sensitive information about us without our authorization, so the least you would expect is that the most important job they do is to maintain that data safely. if you have information on the majority of american citizens, you have to expect the whole hacking world will come after you. emily: that is your one job, to make sure it is protected. eric: that's the one job. if there is any breach, you need full transparency. because how can we possibly trust them again? emily: mike, you are getting new information about the motivation of these hackers, potentially that they were interested in

getting into the big banks. what more do we know about the end goal of these attacks? reporter: we don't know a lot, because the company isn't telling us a lot. keep in mind one of the things , we know is if you have hackers in your system and a system like equifax, they will probably not just look for one thing, even something as valuable as social security numbers and birthdates on 143 million u.s. consumers. equifax serves a key part of the financial infrastructure in the country, so it has direct links between its system and the bank systems. one of the things we did find out is there is evidence some hackers used api's to get into at least one major bank in canada. that raises all sorts of questions about what else the hackers did with their time in equifax? own timeline, they

discovered the breach at the end of july, but the hackers had been there at least from may. when they took the big stash of data what were they doing over , those months? emily: equifax announced their retirement of senior executives, but there are still questions surrounding this executive share sale. how is this fitting into the timeline of what we think they knew and when? reporter: the timeline is specific, but it does not have wiggle room. they say they learned about the hack on july 29. one group of share sales happened at the beginning of august, but there were a handful of days between the time they learned and the time of the sale. they are saying the executives did not know about the hack in the span of those three days. even the people we talked to who work at equifax say that just seems unlikely. a company has a protocol for what they do when they are

hacked, and that entails briefing executives in a short period of time, certainly not three days. it raises a lot of questions. we do know the u.s. prosecutors have opened an investigation into those sales because they want to find out what the executives knew, and whether or not they violated insider-trading laws. emily: what is the recourse for consumers here? reporter: this is a very different thing they target. credit card numbers, it is a temporary thing they can cancel and reissue. what these hackers potentially got was specific data at the center of our financial identities, like birthdays and social security numbers. this is something that can be used to steal our identities anytime in the next decade, over our lifetime. consumers can do short-term things like that credit monitoring that equifax is offering for free. they can freeze access to the credit reports, which is

typically a hard thing to do in a short-term measure. what do they do five or 10 years from now when the data is still being used to steal identities? emily: mike riley, thanks. can't wait to see the scoop you bring us. eric hippeau, from lerer hippeau ventures, you are sticking with me. alibaba is said to be investing 150 dollars million in a chinese ipo. alibaba was already the biggest shareholder before the ipo. with a 23.4% stake, according to a regulatory filing. coming up, the chairman of the senate intelligence committee is planning to call facebook before a hearing to discuss russia's meddling on the platform leading up to the u.s. election. we will discuss. this is bloomberg. ♪

emily: one of the hottest areas for mergers and acquisitions has been media and telecommunications, with megadeals like at&t buying time warner. for over $105 billion. the bloomberg daybreak: americas team spoke to the global head of media and communications banking at j.p. morgan asked why media m &a is so hot. >> it has been one of the best dynamic periods. all of the industry winners and what we used to talk the wireless sector, they have realized they are in the same business.

which is either consumer broadband our media content. the level of convergence has been unprecedented. the smallest company is close to $50 billion. it is not small ball. the amount of rumors we have seen about the last six months has also been impressive. i think it is instructive to look at the deals you mentioned in terms of the deals that have happened, what do they say about where the industry is going and how it is different. reporter: let's take a look at the discovery, buying scripps. that is to companies coming -- two companies coming together, but still relatively modest compared to other companies you are talking about. >> two content companies coming together, but it is different from deals we have seen in the past. the focus is on programming. when you think about world where content will be distributed over multiple platforms with more consumer choice over internet or cable or satellite, the ability

to control or have excellence in particular consumer demographic will be more important than ever before. the deal allows discovery to enhance its position from a scale and production perspective in a nonfiction lifestyle. reporter: they are still dependent on other people to distribute it. >> they are, but distribution is getting broader and broader. customers have more opportunities to access content than they ever had. emily: moving on to technology and the big m&a opportunities, i spoke to the cohead of investment banking at goldman sachs. he had interesting things to say. >> the two places i would be most focused on would be tnt, the telecom sector. in technology, we have the biggest companies in the world by massive -- cap, amazon, facebook, google, have not been participants in big scale m&a. amazon had interesting transaction on whole foods. those companies have gone in different strategic directions.

we can see big transactions happening here it on the media telecom side, there are probably eight telecom cable wireless companies in the u.s. that are eyeing each other and looking to consolidate. we could see that turned down to 5, 4 in the next few years. reporter: for the tech park, we are used to seeing smaller and on deals in the space. are we going to see the guys making big acquisitions? >> they will continue to think about consolidation, and the communications companies you are -- you are referred to. in the at&t acquisition of time water that's an , example. five years ago we never thought a communications company spending $100 million on content would be unusual. what is important today is consumer engagement and advertising engagement. which is what the internet companies have been good at.

to the extent at&t can leverage its brand portfolio and distribution, it gives it more opportunity to engage with customers and be more relevant advertisers in the same way google and facebook and those companies are. reporter: where is the pipeline strongest? >> i would say it is as busy as it's ever been. we are seeing a level of strategic dialogue across all sectors that is probably unprecedented in my career. the challenge is there is sometimes more smoke than fire, and every day the media has a new rumor about a $100 million megadeal. the challenges we have, there are 15 or so companies that will basically determine the future of consumer broadband in america. the smallest one is $50 billion. more than half of them are controlled and run by a founder ceo. these are folks who have been massive winners in this game of thrones for the last 20 years.

if you could tell me who would wake up and say, i am willing to make a deal with you -- if you could tell me which ceo's and successful founders would make the choice, it would be easy to figure out what would happen. but it is hard. emily: still with us, eric hippeau at lerer hippeau, who was ceo of the huffington post. what do you think? will we see more media m&a, and if so, where? eric: sure. traditional media companies need a bigger digital footprint. they need to acquire technologies. they are not technology companies. for the native media technology companies to be part of a bigger group, get more resources, more options to distribute their content. it is a win-win for both. emily: do you see a big consolidation happening? eric: i don't know how much with consolidation, but if you look

at the deceleration of subscribers on cable, this is motivating a lot of people to say, wait, this uncoupling of the cable world is happening a lot faster than we expected. we better prepare -- as we are cash-rich, we better prepare for the future. emily: eric hippeau, you are sticking with me. coming up, sprint and t-mobile are in continued merger talks. the sides are said to have agreed deutsche telekom would have control in a combination of the two companies. operators are discussing a stock for stock merger. they are still weeks away from an agreement. deutsche telekom would be in control of both companies. both companies declined to comment. european leaders will warn the biggest tech giants that they will face fines if they do not remove terrorist content within two hours. this is bloomberg.

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emily: now to a story we continue to watch. the senate intelligence committee expects representatives of facebook to testify at a public hearing examining russia's use of social media to influence last year's presidential election. according to chairman richard burr, the panel hasn't determined all the issues that will be covered are invited company representatives. he said the hearing may include twitter and other social media companies. i want to get straight to our bloomberg tech reporter who october's and facebook. still with us, eric hippeau of lerer hippeau ventures. what do we know? reporter: he says facebook, if they don't have much to hide, and they want to be transparent and cooperative how about doing , it in the public? although a date for a hearing has not been set this is , important to the senators.

facebook has given more information about the ads related to the russians spending to robert mueller's commission. we are very much looking forward to anything we can hear in the public eye. emily: does this mean we could see mark zuckerberg or sheryl sandberg testifying before congress? reporter: that could be a possibility. we could also see perhaps facebook's head of security, anyone who might have more specific information, maybe that they are looking into it on a granular level, but nothing has been confirmed. emily: eric, what is your take? eric: the issue is actually bigger than just the russian hack. we are entering a new relationship with our big tech companies. for years, we left them alone, we wanted them to grow and innovate. but it has dawned on us as a society and users and the government that they are really not transparent.

they are not telling us what they are doing. they change their algorithms without any thought or expectations. they deal with our data in ways that -- for instance, we just learned they allow people to target racists. they hide behind the notion that they are just a utility, that they are not responsible for the content, or how the platform is being used. as a society, users, government we are now saying , that can't be true. you have to take responsibility and take charge of what is going on on your platform. emily: another story that just crossed, european regulators will be telling tech companies they will be fined if they do not take down terrorist related content in a matter of hours. i wonder if that is possible,

and what might the reaction be? reporter: i think that is absolutely going to be something the company will say is difficult. twitter today announced it had removed a few hundred thousand accounts from isis. emily: 300,000 accounts that they removed. that's a lot. reporter: that's a lot. 20% less than this time last year, but maybe that means they are doing something to address the issue. the problem the european regulators say is that they want companies to address this within two hours of when it goes up. that is very difficult. facebook has more than 2 billion users now. it is very difficult for them to police all that content. what the u.n. wants to do is companies to think about this at a technological level. is there way they can address the issue at scale without having to hire thousands of contractors to look through this, or is that an impossibility? emily: and yet it is a problem

they have known about for a long time. do you think it is fair for them to say, we can't do it, it's too big? eric: no, it is not. and the penalties do not seem to be working so well. facebook has 2000 curators. they are not doing enough. they are not reassuring us they are doing enough. emily: facebook did say they are hiring 3000 extra workers for live content. -- to flag content. reporter: i see that 3000 workers cited in every post from facebook in a problem they are trying to address. those 3000 workers are dealing with advertisement fraud, fake news, hateful content, violent video. all of these things. it is interesting how much they are able to cope with. emily: they have a lot on their plate, apparently. sarah frier i know you will keep , us posted. eric hippeau of lerer hippeau ventures, thank you for joining us. great to see you here in new york. thank you for watching. that's it for today, this edition of "bloomberg technology." wednesday, tune in for an

unprecedented gathering of world leaders and international ceo's at the global business forum. we will have jack ma right here on "bloomberg technology." ♪

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