>> i'm jessica summers in new york, and you are watching "bloomberg technology." u.s. embassies in the middle east and europe are warning americans of the potential for violent protests. the warnings come after president trump's decision today to recognize jerusalem as the capital of israel. turkey, jordan, germany, israel, and britain have urged americans to exercise caution. other embassies are expected to follow suit. senator al franken's office released a statement saying he will make an announcement tomorrow, but did not offer further details. a wave of democratic senators, most of them women, have called for franken to resign after

the latest allegations of sexual misconduct. oregon democrat ron wyden [no audio] the senate's gop majority voted today to begin talks on reconciling the two tax bills. lawmakers are headed to conference to work out differences and emerge with a final bill that could be passed by the senate and house and then signed by president trump by christmas. thousands are fleeing ongoing wildfires in southern california. flames have charred 50,000 acres of land and burned hundreds of homes. global news, 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i'm jessica summers. this is bloomberg. "bloomberg technology" is next.

emily: i'm emily chang, and this is "bloomberg technology." broadcom posts numbers that beat across the board as it tries to pull off the biggest takeover in tech history. amazon and alphabet butt heads over reciprocity with customers caught in the crossfire. a bloomberg exclusive, coinbase's ceo offers his take on bitcoin, which just roared by $13,000. how it has nearly tripled its user base. first, to our lead, broadcom reports fourth-quarter results beating forecasts, offering an optimistic outlook for the current quarter, indicating its smartphone customers are optimistic about demand. let's bring in our bloomberg editor at large, cory johnson. you have been pouring through the numbers. you said it was an interesting quarter. why?

cory: broadcom is a very interesting business. they have gobbled up some really interesting and big parts of the semiconductor world. broadcom having success with the iphone and in networking devices. brocade was acquired by broadcom. that company dominant in the storage business. the results that we see here today from broadcom, looking back to the quarter that ended in october, really strong iphone business here. we see really great strength and gathering more and more silica in the new iphones, and we see that business showing up in these results. 17% year-over-year growth in the semiconductor space is very strong for a business this big. emily: we've seen the danger of relying on apple as a customer. how much does broadcom rely on apple as a customer? cory: it's absolutely the most important customer.

looking forward to the qualcomm m&a, broadcom has been successful getting apple to pay it. qualcomm has been unsuccessful. broaddcom has been able to add more real estate in the phone. interestingly, the quality of the phone call that apple likes to boast about -- you remember how crummy the phone was when it first came out. hearing the call was more and more difficult. broadcom has a great ship that -- chip that helps us to listen to a little bit better those signals coming through the phone and understand what we are saying to the phone. it helps power siri. those kinds of chips are so important to apple, and they are relying on broadcom. you can see the sales in this quarter. what we will learn any second now as the conference call goes on is how successful they have been selling new routers, selling servers. think of the companies in technology that are really struggling now.

meg whitman's hewlett-packard, having horrible problems. cisco, just barely coming out of a turnaround, having trouble selling hardware. oracle's sun business, struggling. the growth in amazon web services, google's nascent efforts in the cloud -- what we see there is, they might be buying chips from broadcom itself, not going to hewlett-packard or ibm, but buying the chips from broadcom, building their own devices. that's what i want to hear about on the conference call. what kind of success are they having selling into the white box manufacturers at amazon, microsoft, facebook? emily: what will we get on this potential takeover? cory: what they could do to help sway the market is to talk about financing and how they can afford it. the financial guidance they put out in this earnings report --

the guidance is nebulous. it's, hey, in the future, we are going to see margins go from 60% to 65%. we are going to see increased free cash flow as a percentage of net income. we are going to have a much financially stronger business going forward. they are not putting dates on it, but they are telling this business is going to go from really good to really great. i don't know if we believe them or not. they don't have a history of missing targets. emily: it's more difficult to have a timeframe, right? cory: it is typical of companies when they give specific financial guidance to give us a timeframe. they are saying "eventually." it suggests they see great things for this business and would give the kind of financial leverage to do the acquisition and borrow a lot of money to do so. emily: thank you so much. we will share updates as we have them. editor at-large cory johnson will continue to monitor the

broadcom earnings call, and we will bring you any headlines. the feud between two tech giants heats up. what it means for users, next. bloomberg technology's livestreaming on twitter. check us out at 5:00 p.m. in new york, 2:00 p.m. in san francisco. this is bloomberg. ♪

emily: a new study shows just how far silicon valley still has to go to fight sexual harassment and improve workplace diversity. a study by a venture firm found

53% of respondents experienced or personally know someone who was sexually harassed in the workplace. when it comes to diversity, just 17% of startups have a formal strategy to promote diversity and inclusion. that's up only slightly from 14% in 2016. amazon and alphabet are getting aggressive in order to gain a greater hold in the competitive smart speaker market. google dropped its youtube video service from amazon devices, citing the internet retailer's failure to make amazon prime video available through google's gadgets, as well as the recent halt of the sale of some nest products on the amazon website. who has the upper hand, and what does it mean for consumers? let's bring in james cakmak, who covers these firms. and in new york, we have mark gurman. what happened here? mark: to be honest with you, it's a very petty fight we are seeing between two companies. it comes down to them both being strong competitors with each

other. amazon is making hardware now. google is making hardware now. amazon came out with alexa. google has google assistant. amazon has their video and music service. google has their music service now. what's going on here? the youtube application on the echo show, amazon's new popular speaker which has a touch screen for watching videos, no longer has a functioning youtube application. the fire tv, set-top box people can use to connect to their big screens at home, won't have youtube support beginning january 1. emily: amazon says google, james, is setting a dangerous precedent. what do you think? james: i think "petty" is the right word for what we are seeing now. these companies are on a collision course. they are starting to flow from google over to amazon. on top of that, you have the whole content endeavor.

what you will see from amazon is potentially a subscription like youtube tv type offering. these companies' collision course is the destination. emily: why aren't amazon videos available on google devices? this, as amazon and apple are deepening their partnership and you can get amazon prime video on apple tv. mark: from a business perspective, it makes very little sense. what companies should be doing, and microsoft is a good example, is putting their script and -- subscription services on as many platforms as possible. all amazon is doing here by limiting their -- google's ability to have amazon prime video on google devices is having less amount of people to subscribe to it. they could be losing money here. on the other side, it's a power move. they want leverage for certain things. google is upset that amazon doesn't sell the latest products

on amazon.com, the retail website, and amazon is upset at google because they are going on their turf. they have an alexa competitor now as well. emily: so, they are both being petty. doesn't it appear that way? james: it's petty. this is part of a much better -- much bigger fear that i think both companies have. it's advantage, amazon. all the ad dollars that are at risk for google are starting to flow over. you don't need that as much -- much bigger fear that i think anymore if you go to amazon. if you think about the content side with the disproportionate amount of spending that amazon is doing with their prime video versus google, i think you are going to see bigger and bigger moves on their part, which puts youtube at risk. you have a lot of risks that google is facing, so i don't really blame either company for trying to jockey until we see where the chips fall. emily: mark, would you agree its advantage, amazon? mark: i think google is coming from the below approach here.

they are punching up. google has a strong infrastructure. they are the ones making so much money in the ad business. i can see their perspective, though. what amazon did is they created youtube applications themselves. they are not using google-made youtube apps like other companies do. perhaps the amazon approach makes sure that google doesn't get as much ad revenue as they normally would have gotten out of an in-house youtube application. i can see why google would be upset. for those watching, the only people losing are you, the customer. emily: what's happening when it comes to the battle for the home? if you are an apple household or primarily android household, are these devices then able to communicate with each other? you throw an amazon alexa into the mix. how do you and the household reconcile these different devices? mark: we had an episode earlier today, and i encourage everyone

to watch on facebook.com/gadgetswithgurman, comparing all of the latest smart speakers. my take away from this was that the sonos one is -- the echoes can work with your apple devices. they can sync to your apple icloud calendar. i think today, as of today, the alexa, echo ecosystem, and the sonos one, those will work together. google has their optimized speakers. they have more google home products in the pipeline. apple has their home pod coming out in early 2018. that will be optimized to the iphone. it will not work for someone who uses a non-iphone as the core of

their ecosystem. emily: how do you expect this to play out? james: it's advantage, amazon. they are starting to really educate the users. they have these whole teams that help you go and build up your smart home. the second thing they are doing is they completely understand what they are and are not. by looking to partner with all the major companies that will help the echo and alexa ecosystem be successful -- they are not trying to be everything to everyone and go outside of their skill set. the platform approach they are doing, integrating all these third-party services -- you saw it with the cars, the ford, bmw. i think you will see a lot more partnerships to come. if they can push the customer and educate them, i think that ecosystem will be built around what amazon has done. emily: james cakmak of monness crespi hardt & co. and mark gurman, thank you.

coming up, airbnb wants to be the top destination for sustainable travel. we will sit down with the top exec and hear their strategy, next. if you like bloomberg news, check us out on the radio. listen on the bloomberg radio app, bloomberg.com, or sirius xm. this is bloomberg.

emily: wework doesn't look to be scared of any potential downturns from brexit. they are set to become the largest renter of offices in london. they currently operate 17 london facilities. two more will open soon, and it has announced expansion plans at 10 additional locations. it is in talk to buy a 12 building campus for $800 million. the united nations designated 2017 as the international year of sustainable tourism for

development, and airbnb is using the u.n.'s guidelines to showcase its potential as a top sustainable option. we began by looking at the company. >> we are seeing major travel in what has been called the flyover areas and also in emerging economies. you look at our recent report. it shows almost 250% growth in places like indianapolis, indiana. what that really speaks to is the network effect of the platform as it spreads out and more and more people use it. those are places that have been underserved in terms of traditional accommodation options. it's hard for those hotels to justify build out there. when you have things like big ten football, you see our platform spring to life. emily: you are expanding in asia, africa, and the pacific. what's been the biggest challenge? chris: the pace of the growth.

that's a high-class challenge, by the way. we just had our best quarter we've ever had. over 250 million people now on the platform. this growth is just taking place underneath us. for us, it's incredibly important that we make sure it's working as well as possible for our guests and hosts. over 60% of people who use airbnb do so based on the recommendation of a friend or family member. i just came back from jamaica. the u.n. had a conference on inclusive travel, how travel is becoming a bigger and bigger part of the global economy, how can you make sure everyone is benefiting from it. from a sustainability and economic inequality perspective -- almost 60% of all travel will be taking place in these emerging markets. how can we do things now to make sure entire communities are benefiting from it? given that we are making travel available and accessible to traditionally nontraditional areas where people travel to as

part of that solution -- it's an interesting thing to have the conversation now. emily: you say you are focusing on sustainable tourism. what does that mean? does it mean you don't put certain listings on your platform? chris: great question. if you look at the way our platform works, it has roughly 65% less impact on carbon than a traditional hotel. one of the greatest contributors to climate challenges is cement. that takes an anonymous amount of cement to build a traditional -- it takes an enormous amount of cement to build a traditional hotel. 90% of them are in nontraditional hotel districts, so people can travel there and get around by foot, get around by bike, less water impact, less energy impact. what you see from our survey data is that over 70% choose to use airbnb because they see it as a sustainable option when it comes to travel. in a time period where climate

is one of the huge issues of our time and with travel and tourism growing so fast, how can you make sure you are doing it in a sustainable way? emily: any insight into whether trump's policies on immigration is impacting international tourism? chris: it's a great question. i will say we haven't seen that yet. we've been out front in terms of opposing the travel bans. we had a whole campaign called "we accept." we haven't seen that in terms of actual travel and tourism. i think it has profound impacts on the u.s.. where you potentially see that is, does the u.s. -- does it take a hit as a result of that? as a derivative of that, travel and tourism? it's growing so fast i'm not sure that's going to be the case, but you do see the reverse of that. when i was in jamaica, i had a number of countries that came up wanting to talk to us about how we could work with them to make

our data accessible, to help inform their marketing. they themselves are looking to diversify their travel where they are inbound, where people are traveling from to go visit their countries. they specifically were concerned about becoming overly dependent on the u.s. for travelers and wanting to diversify. i think that is really being driven by some concerns about issues that are taking place over here, in terms of how welcoming the u.s. is perceived to be. emily: you worked in the clinton administration. we recently covered the sexual misconduct of a major democratic party donor. what's your response to these allegations? chris: we believe what the women have said out there. i think we have gone through -- i think it's been a long time coming, and it was very much needed. a pretty significant transition in the world, particularly in this country, in terms of people being willing to speak up and stand up on an issue that has been taking place for forever. and i just -- every day, you

read these stories. i'm incredibly impacted by the coverage of some of these victims, these women who stand up and talk about these issues. obviously, it's not particularly hard to say, we condemn any of that type of activity. we certainly believe what the women are saying out there. but even more broadly, we see that we are now in the middle of a pretty significant transition in what social mores are, how people look at it, how the press covers it, how willing people are to talk about it and engage on it. and that's incredibly important if we are going to be able to address the underlying challenges. emily: airbnb had its own sexual misconduct allegations in china. what happened there? chris: you could probably guess, we just don't talk about hr types of issues, personal types of issues. we are, generally speaking, broadly speaking -- we are not always perfect. we don't get everything exactly

right, but we have a values system we believe in strongly and seek to execute an act against those values. emily: reporters are speculating that airbnb will go public in 2018. can you tell me -- chris: i told you, when we know, you will know. emily: chris lehane there, head of airbnb's global policy and public affairs. coming up, just days away from its cboe debut, bitcoin his the $13,000 mark. and a feature i want to bring to your attention, our interactive tv function. you can watch us live. if you miss an interview, you can go back to it. you can send our producers of a message, play along with the charts we bring you on-air. this is for bloomberg subscribers only. this is bloomberg. retail.

under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver.

the un security council will meet to discuss president trump's decision to recognize -- jerusalemapital as the capital of israel. president trump: israel is a sovereign nation with rights like any other sovereign nation own capital.its protests andparked

protests -- condemnation. it ralliedcron says to rules of international law. the palestinian authority president says it will drag the region into an endless religious war. the head of the u.k. business lobby says rising uncertainty about frexit is affecting every aspect of -- brexit is affecting every aspect of corporate britain. he is worried investment will move abroad unless there is a clear path. juliette: checking asian markets, looking better than we were seeing yesterday. eight sessions of losses, the longest losing streak since august, 2015. the rebound driven largely by what you are seeing in the nikkei.

theave got week this in yen. aussie dollar, falling to a three-week low. interestingly, australian market still being supported, up 0.6%. 1%.a large-cap stocks, down affecting the mood on the index. nomura coming through with a note saying they expect ductal -- double-digit returns. the driven by earnings growth. trimmed expectations. tencent stocks, regarding in japan, up 5.4%. jeffrey saying the tech selloff

should start to rebound. downside, seeing a little bit more upside coming through in the asian markets. mainly led by the tech stocks. jessica: you are watching bloomberg technology. let's start with a check of your first word news. reaction has been swift following president trump's decision to recognize jerusalem as the israeli capital. >> this reflects the president's commitment to an agent but enduring truth. advancing peace. the president's decision is an important step toward peace. palestinian president

says this ends the u.s. role in the peace process. president trump also making waves. calling on saudi arabia to end its human blockade. officials to reach out to leaders to ensure fuel, food, water, and medicine reached the yemeni people. revealedesting has brain abnormalities in the oncalled invisible attacks employees of the u.s. embassy. they felt fell after mysterious sounds led to hearing loss -- fell ill after mysterious sounds led to hearing loss. vladimir putin announced he will run for a fourth term in march. with approval ratings topping 80%, he is a favorite to win a six-year term.

news, powered by journalists and 2600 countries. it is after five: 30 p.m. in new york -- 5:30 p.m. in new york. good morning. set to asian stocks are stem losses after a rough patch midweek. emerging markets, looking like a nasty slump. a dragon commodities, oil continuing to slide. the dollar climbed in, that is painting a better picture for japanese futures. you are going to see the nikkei 225 could recover some of its worst slide in nine months. all byare seeing them 1%. aussie futures. the latest trade balance figures.

more with bloomberg technology. emily: this is "bloomberg technology." i'm emily chang. bitcoin soared past $13,000 for the first time. the largest cryptocurrency by market value is selling -- was selling for less than a thousand dollars at the start of the year. in recent days, several exchanges have come out with news on offering bitcoin futures. joining us, coinbase's ceo brian armstrong. they have almost tripled their user base since last year, now standing at 13 million. a wild ride, especially in the last few weeks. what do you see happening with this surge? where is it going? brian: there has been a big influx of interest in digital currency.

part of that is driven by institutional money. most of the large derivative exchanges out there, cme, a number of others, say they are going to list bitcoin futures. that's driven a lot of interest. it's a big signal that traditional financial institutions are starting to move into digital currency. emily: what does this create new challenges? brian: it's a big endorsement of the digital currency space. this is a real asset class that more and more players are going to trade. for us, we offer spot market data to a number of these providers or we are discussing it with them. we run the largest institutional exchange in the united states for digital currency. we are offering a custodian product where a lot of institutional investors need a secure way to store digital currency on behalf of their lp' s and their clientss, so we launched a product recently on that for coin-based custody.

emily: are you worried your clients might decide to go work with traditional, mainstream wall street companies, rather than coinbase? brian: i think it is certainly an option. there will be more and more people involved in the digital currency space. we will not be the only ones. i think that's a good thing. there will be a diversity of players out there. there are going to be a lot of winners. digital currency is moving so fast. i do think a company dedicated to it with 200 people who have built up this industry knowledge over the last five years will have a sustainable, competitive advantage. emily: we have to talk about customer service. you have been experiencing a glitch. why does this happen? brian: in a word, it's hypergrowth. we have hired from about 40 customer support agents to about 220 or so this year. by the end of next year, i think we will have another 400 or so. emily: in addition to 200? brian: yeah. we also launched phone support this year. we are going through this period

of growth that is almost never seen in business. it's really difficult, to keep up with this amount of demand. we are not servicing our customers to the level they deserve at the moment. that's really frustrating to see, but it's my job from the top to ensure that we are going to get there. emily: can you explain more about why it happens? is it a glitch or a crash? what's happening technically? brian: it's a huge influx of new customers. trading volume, new sign-ups, everything, it has gone up about 8x june of this year. it's really difficult to plan for that kind of capacity. emily: it's literally that you don't have enough humans behind the scenes to receive all of these complaints. brian: correct. emily: in addition to hiring new people, is there anything you can do? brian: we can always improve the product. improving the product is a way to reduce the number of customer support tickets that are coming inbound. the team is working really hard on that.

the key metrics we look at are uptime, nps score. those are the core metrics we look at to make sure we are meeting customer demands. emily: do you have any concern that this will decrease trust among customers or that you will lose customers as a result of this? brian: honestly, i do have that fear. it's difficult to go through a period of this rapid growth and maintain the same level of service. we've been watching those metrics and they are not where we want them to be. growth is a really high quality problem to have, but it doesn't mean it's not a big problem. especially in financial services, we are held to a much higher bar. we are storing people's money. people are right to call us to a higher standard. emily: the irs has been asking for more information about your holdings and your profits. what are you hearing from your clients about this? brian: the irs sent us a subpoena for a large number of customer records, in fact all customer records over a

several-year period, which was pretty unprecedented. we did push back on that strongly. we took it to court. the judge, i think, gave us a big vote of confidence and they reduced the scope of the irs request by 97%. it wasn't down to 0%, which is where we think it should have been, but it was a partial victory. if you look long-term, we want to help people pay all their taxes on digital currency gains. what i think this should look like is something like fidelity or charles schwab, where everybody gets 1099 statements. we are working with the irs now, thankfully, to make sure we come up with some kind of a solution where everyone will pay their taxes, but this is one of those new areas. technology keeps finding a new box that doesn't fit into the framework perfectly, and we need to work with everybody out there to get there. emily: are you giving any advice to your clients about how to report their gains to the irs? brian: we try to stay away from

any sort of tax advice, since that's not what we do. but we do provide a report to our customers, a cost-basis report. that's the solution we have in the interim. emily: let's talk about what's happening with some of these other cryptocurrencies. what do you see happening with them versus bitcoin in the future? brian: they have evolved down different paths. bitcoin used to be 95% of all the market cap of digital currency, and it has come down quite a bit, i think to 50% or 60%. bitcoin is a little bit more like digital gold, if you will. it's the oldest digital currency. it's the one that people flee to in times of uncertainty. but it has not scaled to become a payment network with a transaction that people might want. etherium has this really innovative new concept of smart contracts.

it is much more programmable than bitcoin. bitcoin is a simple four-func tion calculator. ethereum is almost like a programming language. it's much more programmable. emily: you have launched a new app, which seems like an app store for ethereum. explain what you're trying to do here. brian: when the internet came out, browsers came out. they made it easy for people to access the internet. we are doing the same thing with toshi, which you could think of as a browser for the ethereum network. we are trying to make it easier for people to use.

we are inspired by things like wechat in china and paytm in india. mobile money is a really big deal, especially outside of the united states. people in emerging markets could actually use digital currency to start to get access to financial services. emily: when it comes to the price, how do you see bitcoin versus ethereum playing out? do you see the bitcoin spike continuing? do you see ethereum surpassing bitcoin at some point? brian: i never want to give investment advice. bitcoin does have a guaranteed amount of scarcity built in. there will only ever be 21 million coins. if something is more scarce, the price can be driven up. ethereum has taken a different approach, which is that there might be a modest inflation curve.

disney ceo bob iger will likely continue his tenure at the company. he had planned to step down. after the board of directors extended his contract. for -- and now the top story, broadcom's fourth-quarter results. the chipmaker beat forecasts and has its investor call going on right now. we are continuing to monitor this call. to talk about it more, i want to bring in alex barinka, who covers deals for us. what have they said so far about this qualcomm potential takeover? alex: the biggest potential tech takeover ever. broadcom's cfo did give a bit of clarity as to what they are

thinking about this deal. he did say that if a definitive agreement were to be signed, they expect the deal to go through in about 12 months, which is a new detail in terms of their expected timing. the other thing that i would bring up, right off the bat, the fact that they have had initial meetings with certain relevant antitrust authorities, the cfo said. they think a regulatory requirement would be met in a timely manner. i bring this up because this regulatory issue is key to qualcomm's defense in beating back broadcom from this major takeover. the fact that they are giving some kind of clarity on the broadcom side, that they think that something could get done, is a bit of an inch forward in terms of going -- the back and forth between these two companies. i will say that the cfo did continue to come out and say they want to have a constructive dialogue with qualcomm.

right now, as of this week, they introduced -- broadcom introduced a new board slate for qualcomm, encouraging qualcomm shareholders to vote for their new board at the march board meeting and progress this deal along. right now, it still seems like qualcomm is saying the $105 billion offer price that broadcom is looking to take over the company at is still too low and undervalues this company. unfortunately, shareholders won't get a lot more clarity in the course of this call. i was listening to it up until i went on here with you, and the cfo told analysts, please don't ask any more questions about the deal, we won't be talking about it any further. he did say we have received positive feedback from shareholders and customers about the potential transaction. so, that seems to be the best we are going to get at this point, even though there is still a lot are still a lot of unanswered

questions on the broadcom side. emily: the cfo did ask people to focus on the financial results, which cory johnson reported on earlier, saying it was a strong quarter. we all remember that photograph of hock tan, the ceo of broadcom, with president trump. what kind of dialogue do you imagine is happening behind the scenes, given the challenge that the doj is posing to the at&t/time warner deal? the photo have been the day before they broke the news. alex: the cfo did speak very quickly about the redomiciling, the move that was talked about in this meeting with trump, that they are moving headquarters over here to the u.s. when it comes to these regulatory concerns, the cross-border deals, the non-u.s. companies buying u.s. tech companies, those kinds of deals will take longer to work their way through the regulatory system, if history is any guide. the fact that broadcom will have

its hq here in the states potentially will help ease some of the at least optics concerns. if you look at what's going on with qualcomm, qualcomm is still trying to acquire nxp. we are still waiting to hear what happens with that deal. what happens with regulatory approvals is top of mind. that's why the fact that broadcom's cfo said they have had initial conversations and they think a timely manner would be the case if this deal work to go through with broadcom and qualcomm is a very important thing that i think the market will fixate on into the coming weeks. emily: whew. so much action in the chip space. thanks so much, alex barinka. qualcomm's ceo will speak at the economic club in d.c. tomorrow. we will be monitoring his remarks, and we will bring you the latest as we have them. still ahead, apple's ceo tim cook says he couldn't be happier with iphone x's sales in china.

we'll hear from him next. this is bloomberg.

emily: the annual fortune global forum is underway in china. top tech execs like alibaba's jack ma and apple's tim cook are using the opportunity to tout the importance of open trade between the u.s. and china. >> apple ceo tim cook stealing some of the limelight at the forum, talking about his view on the chinese market, saying one of the attractions for him was the quality of the people here and also the partnerships that tencent and apple have together. he also was asked about iphone x sales in the chinese market and said he was very positive about the momentum he was seeing

there. >> you look at how iphone x is doing here. i could not be happier. we've had a few quarters of negative growth on a year-over-year basis. we returned to double-digit growth last quarter, even before the iphone x shift. >> we also heard from the chairman of ford, saying that china was taking a leading role in the development of electric vehicles, saying that he was very confident about the growth opportunities there. and we heard from the founder of tencent, a company that has a market cap of well over $400 billion u.s., talking about the competition between tencent and alibaba in at least a dozen different sectors, and also talking about what he sees as significant, multibillion-dollar opportunities in the health care and education sectors here in china. >> i believe that education

sector will grow to hundreds of billions of dollars and the health care sector here will be even bigger in size. both industries are still in their early stage and our strategy is to make a bet on all horses. >> alibaba founder jack ma took to the stage and said we shouldn't be worried about automation. he made an overtly political statement, taking a swipe at the division between the republicans and democrats in the u.s. emily: that doesn't for this edition of "bloomberg technology." we are live streaming on twitter. check us out weekdays at 5:00 p.m. in new york, 2:00 p.m. in san francisco. this is bloomberg. ♪ is this a phone?

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