alisa: i'm alisa parenti and you're watching "bloomberg technology," utah senator orrin hatch says he will retire after four decades in the senate. in a video, on twitter, he said "every good fighter knows when to hang up the gloves and for me that time is approaching." the 83-year-old's retirement opens the door for public and mitt romney to run for his seat. u.s. ambassador to the united nations nikki haley blasted kim jong-un today following the north korean leader's declaration that the u.s. is now within range of a nuclear strike from his country. >> the civilized world must remain united and vigilant

against the rogue state's development of a nuclear arsenal. we will never accept a nuclear north korea. alisa when asked about possible pyongyang andn south korea ahead of the winter olympics, haley said north korea can talk with anyone they want, but the u.s. will not acknowledge it until they agree to ban the nuclear weapons they have. police in brazil say the search is on for 99 inmates who escaped during a prison riot. left nineur uprising inmates dead and another 14 injured. global news 24 hours a day powered by more than 2700 journalists and analysts. this is bloomberg and "bloomberg technology" is next. ♪

emily: i'm emily chang. this is "bloomberg technology." coming up, the biggest company on the planet go on a buying spree in 2018? we look at apple's billions of dollars of cash on hand and possible m&a targets. plus, bitcoin's hangover. can the currency regain its peak? and the consumer electronics show is just around the corner. we will talk about who is going and the likely buzz, but first, to our lead. trillione about $2.7 worth of mergers last year the , lowest tally in four years. will 2018 see a new rush of merger mania? when projectionist that amazon will buy yet another major brick-and-mortar business in 2018 on top of its recent purchase of whole foods, and he says that his target. >> the timing on this is difficult. we think it is 2018, but seeing the combination of value is

easy. this is not just a revenue grab, this would be -- one piece is a demographic grab. the mom demographic is critical to how amazon thinks about their business. our next guest, says apple will likely get aggressive in the coming year. apple will benk the big buyer? >> the big thing is with the new trump administration, it opens up the opportunity to bring in a lot of cash internationally to the u.s. invested in r&d, engineering, as well as other companies, and do not forget stock buybacks. while we do lay out a list of potential shopping targets, we also want to note that stock buyback is probably going to be on the front of most companies out there, to buy that their own stock. emily: you mentioned political

uncertainty. we do have a chart here on the bloomberg terminal showing the relationship between political uncertainty in the u.s. and m&a volume. you think apple has the problem of too much cash. what do you think their target might be? jim: it's not only a problem today, but also a problem getting worse. that's a good thing. too much cash growing to the tune of $50 billion to $70 billion per year. when we think about m&a, it is important for a company to invest in itself and innovation. then, what kind of items are they missing. apple has talk time and time again about more content and creation of that content. you are thinking disney? >> that is when people talk about as well as others. when people think about these big mergers, people say they are too big. we believe apple over time has not only look at small but also large major mergers.

emily: they may have looked, but they have never done it. the biggest acquisition they did was the acquisition of beats, which, to be fair, did happen under tim cook. maybe a sign he is more open to deals in the future, but what makes you think it will be something so high-priced? jim: before the tax law, there is a big penalty to bring the cash back, now that penalty is gone and a lot of things may open up. more importantly also is artificial intelligence and content where people want to access everything now and immediately, no matter where they are -- at home, in their car, on the subway, commuting. people want access everywhere. we believe apple is going to look at this and all these new invest.opportunities to emily: what about apple by in tesla? >> people have talked about that, and in our analysis, we

talked about eps accretion and things like that. sibley put, tesla makes cars. apple outsources. apple is in charge of operating systems and a user experience, so we simply do not see this as a high priority. emily: they do make phones. jim: they outsource the phones. emily: they outsource manufacturing, but not design. jim: true. emily: when you look more probably, what do you see happening? we heard jean munster predicting that amazon could buy target. jim: i think people think of tech as being a small area of innovation and now we are seeing these new disruptive innovations coming along, that m&a will heat up. ofthink this will be a year what we call merger mania out there, and size will not really create a constraint on things. also stock buyback will be a

natural spot that will allow for eps accretions to go higher. we think this will be a big year for merger mania. emily: do you think it will go through regulatory issues like we see with at&t and time warner? jim: i think so. a lot of the area we deal with as far as hardware in the user experience doesn't see the amount of pricing competition or government scrutiny you raised earlier. emily: you have also reiterated your buy on apple, you think it can go even higher. by? >> tax reform is one way to bring things up. we actually expect apple to see growth. people say everyone in the u.s. has an iphone. that is not true. we actually see that apple is growing its share in areas where the lower price phones such as in india and china can gain

traction. we think it could get to $200 by years end. emily: how do you think tax reform will impact other giants like google, for example? >> we laid out a scenario of the actual financial impact. for apple it is 7% decrease in -- eps accretion on lower taxes and 7% for buying back stock. for other companies, it could be even greater than that, so apple kind of fits in the mid-part as far as where the ranking goes. some companies who have a lot more north america focus have north of 20% accretion from that . we put together the chart and will come back to you with those. emily: thank you so much for stopping by. areof the u.k., regulators considering penalties on the world's biggest tech at least's to create incentives for them to remove terrorist propaganda from their social networks more quickly according to "the sunday times." u.k.'s security minister said

patience is running out fast. coming up, bitcoin off to a rocky start this year. can the world's biggest cryptocurrency maintain its 2017 hype? this is bloomberg. ♪

emily emily: a story we are

thiel'sng, peter founders fund has amassed bitcoin. the venture capital firm but $15 million to $20 million worth of bitcoin and the holding value reached hundreds of millions of dollars as the digital currency soared last year. meantime, bitcoin made gains in after the news broke. tech leading the rally for the first trading day of the year. stocksined by our reporter, abigail doolittle. bloomberg rallying but still off its peak from a few weeks ago. tell me what happened. >> lots of volatility for bitcoin. you are right about that for sure. last month, we saw lots of volatility. put in ange after it all-time high of 90,500, swooping below this tells us 11,000. there is uncertainty about what is next.

the bulls will tell you it is the thing of the future, at least blockchain, you have to be in it. the bear is saying it's a bubble, there is mania. lots of uncertainty the wide range in bitcoin last month, we are flashing that uncertainty and we are seeing at in 2018. yesterday it was down 5% on the day, today bitcoin is basic the flat. and after that bullish report about founders, we saw it up as much as 12%, finishing higher by about 8.5 percent, so the bulls taking it, but relative to this kind of marketplace, it is pretty handy to take a look at the technicals. where looking at a chart trying to tell where the buyers and sellers land. this is a six-month chart. over the last six months, bulls very much in charge. beautiful uptrend going from almost $1000 at this time last year, close to $20,000 in mid-december, but here is that

volatility, these wild swings. the point to be made here, right now, we're looking at lower highs. that tells us that the sellers are perhaps gaining a little momentum in the buyers are a little bit tired. we actually have a lower low today and yesterday. that is a lot of technical jargon, but it's a way of saying the battleground is likely to continue between the bulls and bears. the chart may suggest to some degree that perhaps sellers are going to have their way, but anything is possible, of course, with bitcoin. emily: definitely interesting news from controversial investor peter thiel. talk about technology, starting strong again. abigail: a bullish day for the start of 2018. before we turn to nasdaq, s&p 500 putting in a record high, as did the nasdaq, but this was the first time for the s&p 500 since 1992. the bulls are in charge relative to tech.

we have seen the nasdaq outperformed in a big way. lot of it was a tech, but it was also biotech. relative to tech, we were looking at lots of strength to the chip. some of the stocks there that really drove those gains -- amd and micron.- amd some stocks gaining on data for the month of november in an industry report and then andtive to biotech, biogen, insight, many others gaining in a significant way for sure. emily: we were talking about apple earlier. i see green across the stream -- green across the screen. what else did you see? : apple finishing higher by about 1.8%. piperlson over at

reiterated his price target based on a bullish iphone customer survey. last week, of course, a good weekend for apple on the possibility the iphone x is not doing quite as well as some might like. facebook, amazon, netflix, google all doing very well. netflix up almost 5%, really having a big day after shares were upgraded to outperform. the analyst there really believing they could take over from a subscription standpoint. what really stands out, last november,e end of they looked a little bit wobbly with web the longest losing stretches and about 13 months, but we have a chart to show that 2018 really started off in a pretty bullish way for these banks stocks. take a look at this move higher for the merrill lynch index, up

.bout 2.75% that was driven by amazon results, breaking sort of this stalemate that we saw at the end of december. seems some of that could have had to do with investors letting the big gains of 2017 ride and now that we are looking at a new year, the bulls are back. tech coming in hot in 2018. i'm sure you will have lots to talk about this year. our stocks reporter there. coming up, tesla reports fourth-quarter sales and production later this week. will it shed light on the model three's production hell? we will discuss. this is bloomberg. ♪

emily: a chinese internet entrepreneur has defied orders to return home. orders came to help attack -- a tech company he founded resolve its crushing debt. he says he needs to stay in the u.s. to work on his electric cars start up. he expanded into smart phones automobiles before coming under increased criticism from

authorities. the chinese regulatory commission issued an order for him to return by the end of 2017. instead, he and his brother and wife have been empowered to handle affairs with the shenzhen listed firm. tesla is keeping wall street guessing about sales of its model three sedan. the electric carmaker may have delivered four times more model 3's last quarter than it did in the past three months. another analyst says it may have increased by a factor of 40. tesla will report for quarter sales and production later this month. joining us now is our reporter who covers all things tesla. what we know? have regular people, non-employees, started receiving their cars yet? >> yes. and if you search on twitter you will see all kinds of information from people who have gotten their cars. now we are seeing the first wave of deliveries going to regular people.

granted these are usually people , who also own a model as or and ask. i actually saw my first in the wild the other day. emily: on the road. they did scale back their delivery targets significantly, right? >> they are basically running a quarter behind. elon musk has said it's not likely to hit until later much. what everyone is wondering is common a cars did they deliver. i think we are hearing that a lot of cars were delivered in the last two weeks. the week between christmas and new year's was very busy. emily: what are the reviews? what are tweets saying? >> the first people who have them seem to be pretty happy. there seem to be mild issues that are probably software related, but there have not been any reports of major breakdowns with the battery or many -- major issues yet.

emily: what will we hear later this week? >> basically, most automakers report sales on a monthly basis. tesla doesn't quarterly. quarterly sales and delivery, which the same thing for them. emily: i am seeing more model be cleared.ild, to how does this fit into the overall strategy, releasing finally a car for the masses? >> we will learn a lot about where they are in terms of production hell. if they sold 5000 model 3's in the quarter, that would be phenomenal. our analysts estimate it's probably more like 2900. the question is how they work through these bottleneck issues, and as long as they can say they're on track for the first quarter, that would be good. the production issues? >> they said they had issues with their battery module, and there have been a number of

other untold issues they have not specified. emily: how are investors reacting? >> the stock is up in anticipation of what they will release tomorrow. long-term investors remain bullish on the company. the main thing is that the car seems to be getting fairly positive reviews. emily: we were talking tech merger mania potentially for 2018. we had a citigroup analyst on the show earlier who talked about the us ability of apple buying tesla, which i know has been raised for years now. he does not think it is likely. what do you think? >> it is a perennial rumor. it is hard for me to imagine elon musk selling his company to someone else unless he could retain full control. how would that work? i do not see elon reporting to .im cook emily: well, you never know. there has also been talk about will elon one day hand over the and stay atla spacex, which is his other baby,

but maybe a more preferable baby -- we don't know. >> that is a good question. has publicly said he will step model 3tesla once production is up and running, but he has also said he loves tesla like his own child and will never leave the company. emily: it is unclear which one he loves more, right? >> right. he loves them all. he will always be involved in some way as chairman of the board but not ceo. what is interesting about tesla is they do not have a coo. who in their talent is being groomed for that role? musk, speaking of elon what is happening with spacex. >> they are expecting two to 30 launches, which is a progressive target that may slip, but their first launch is later this week. a secretive military payload, and then they are planning to do their first ever made in test .light

be alli know you will over those numbers when they cross. thanks so much for dropping by. every of won a lawsuit brought apartment investment and management company, one of the largest residential landlords in the united states. the suit alleges that the online home sharing marketplace enables tenants to break their lease agreements through unauthorized sublets. a federal judge ruled airbnb is protected by the communications decency act, a 1996 law that shields online service providers from liability. coming up, we will hear from microsoft as president and chief legal officer about the role of tech in the current administration. if you like bloomberg news, check us out on the radio. you can listen on the bloomberg app, bloomberg.com, and in the u.s. on sirius xm. this is bloomberg. ♪

♪ >> you're watching bloomberg markets middle eastern or taking on the first four headlines from around the world. the trump administration says it may impose new sanctions on iran as the number of people arrested in street protests. thepresident tweeted that people of iran are finally acting against a brutal and corrupt regime. you and ambassador says the u.s. has no unilateral plans but once an emergency session of the security council. president trump has offered conflicting opinions on north korea, saying the prescience of sanctions could even -- could ease tensions, but then resorting to schoolyard games

about nuclear. he said he had a bigger nuclear button then kim jong-un viewed -- kim jong-un. fueled by growth and ride hailing, the increasing chance of a ban on human operated vehicles in cities and the race to dominate tech, autonomous car's are supposedly going to talk 22 million in shells by 2030. >> kicking markets midsession, we are seeing the regional benchmark index hold onto and build on record highs. japan still off-line. it will come back until thursday. take a look at the regional indices we are seeing our three-putt the philippines up by 1.6%. china also building on solid gains from yesterday. today,eturn in tech

taiwan is up about 7/10 of 1%. good moves coming through in hong kong's session. they run the lunch break did stellar session yesterday and we are seeing the hang seng on that break up by one third of percent. at theave a look currency market, it is a story of dollar strength, a little bit of weakness coming through in the asian currencies. the aussie dollar off. look at the bond space, essentially following what we saw in the u.s. treasury market. you are seeing asian bonds, mostly lower. yields rising across the board with the exception of china, the yield on the air to your note down by 4.3 basis points. theing at what is driving market action today, the story of what we saw on wall street as well as tech players living in the region. -- lifting in the region. seeing very strong movement in mining stocks today as well.

that is despite the fact that we have started to see a little bit of a switch out of aluminum dropping on china, and oil out of its two-year high. ♪ emily: this is "bloomberg technology," i am emily chang. the tech industry's relationship with the trump administration got off to a rocky start after many of silicon valley's largest companies protested his immigration policies. one of the loudest voices was microsoft and chief officer brad smith. tom keene and francine lacqua spoke with brad smith on a of surveillance. they started the conversation by asking smith about the role of technology over the next five years. >> we are seeing technology have several important impacts, with the advent of artificial intelligence or ai. we are going to see an ongoing impact on not just businesses and government but also economies and jobs.

i think people are bracing for that, we are looking to the future without a clear sense of exactly which jobs will be eliminated and new jobs will be created, what additional skills will people need in order to take these jobs. i think the other thing to think about is the international aspect of this -- at one level, i.t., information technology has become more global. the global -- the industry has become more global. this is another area where we are seeing the rise of china, we are seeing chinese tech leaders emerge as global tech leaders and at the same time we are seeing fragmentation in the technology sector. there is not quite in some respects a global internet like we used to have. i think five years from now we may see more of that fragmentation. areart of your charm is you

not in silicon valley, you are in the real world of seattle, washington. i guess that is the real world. piñata forley is a washington. how afraid should san francisco and the cliche of google or apple, your competitors, how afraid should they be of washington in 2018? >> first of all, when i get to washington or new york, most people seem to think that seattle is either just next door to silicon valley or part of it. i think for all of us, there is an increasing tension between the west coast and the east coast, i think we have been seeing this unfold over the last decade. you certainly see political commentators and washington, d.c. identify the tech center as a piñata, it is not just those on the left, it is those on the right. i don't know that people have yet transferred that concern about technology into a defined

course of potential political regulation, but that could come, and i think it really behooves all of us in the tech sector to be listening to that and to be at addressing those concerns and acknowledging the concerns. which i think silicon valley has sometimes been slow to do. >> let's move to the commonwealth of massachusetts or maybe the english common law and talk to ian bremmer about the tech comments. what a great phrase. what is a tech commons? >> you have the president of microsoft saying what will be global tech commons looks like you'll see fragmentation, you see that in the internet space and as we move from the information revolution to data revolution, it is much more top down. so the space that is being created, the way that people are engaging and the filters that they seek to engage in commerce, or if there is surveillance, those are increasingly either coming from a bunch of

fragmenting companies that are competing with each other, very sophisticated in the u.s. or through the chinese government. those are two completely different models. that is not u.s. led globalization we have been thinking about. i think you can make an argument that the facebooks and googles and microsofts are easily as strategically important for the united states for the economy and the national security as --kheed and raytheon ever or ever were during the cold war. i don't think the u.s. government is prepared to align with these companies that way. i also think the silicon valley is problematic. but in china, patriotic corporations? it is the same thing. that will be an important brad to be a leader on. >> to his point, which government is ahead of the curve? if you have all these transformational changes and how you retrain people and educate

people for jobs of tomorrow we don't even know of yet how do , you educate the government? >> i would say two things. first, when you look at government support or investment in ai, i think one would be hard-pressed to find a government that is more focused or determined than the chinese. you can contrast that with what we see in washington, d.c., where this administration is more focused on traditional manufacturing and the like then an the digital or new economy. so we see an enormous divergence there. when you get into the area of skills, i think it is a lot harder to find a government that is at the forefront. in the united states we are some leadership at the state level , which is not surprising, that is where we would expect to see it first. we look at a state like colorado where the governor has been very

focused on it the last couple of years. look at the united kingdom, which has been investing heavily in getting coding in schools. it is such early days when we think about what the impact of ai on jobs is going to be. i don't think any government has really formulated a strategy to address it. of people expect a lot of changes to happen in the next 10 or 15 years. are we underestimating or overestimating? will it be sooner or later? >> there is no doubt that over the next two decades there will be an ai era. it is going to reshape every sector of the economy, it is probably going to touch virtually every job that exists in the economy in every country in one way or another. >> microsoft president and chief legal officer brad smith on bloomberg surveillance. and a developing story, a china-based financial services group has abandoned its plan to merge with moneygram international. this came after the company failed to win approval from the committee.

-- the committee on foreign investment in the united states. the national security panel has become more active in blocking chinese investment in american companies. last year, they are $18 per share in cash, value and the deal at $1.2 million. -- $1.2 billion. coming up, the bloomberg surveillance team, with an analyst. what he has to say about the u.s. china race, next, this is bloomberg. ♪

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google saved billions of dollars in taxes in 2017 using a dutch sandwich structure. that is according to filings in the netherlands. this involved shipping revenues for just companies and then onto a bermuda mailbox owned by an island registered company. google was under pressure from regulators around the world for not paying enough taxes. it is a new year, which means new potential risks in the world of technology. earlier on bloomberg surveillance, google discussed the biggest risks for 2018. >> it certainly means a lot more internet everywhere and it also means a lot more software and devices with programs running everywhere. you hear the term internet of things, believe me, you will be surrounded by software, i'm sorry to tell you that a lot of it will have a -- have bugs, those bugs will get exploited. if i'm worried about anything, it is being surrounded by buggy

software and that is what 2018 will deliver. >> does the software -- this miracle, this iphone, whatever we do with them every day, it is a job creator and a benefit to the society or have we become a part where it is an advantage to some truly a disadvantage to so many others? >> i'm not sure i would put it that way. think we hit shown software enabled devices we carry with this or are surrounded by have done a great deal of good for us. i still think that is true, i think we just have to be a lot more aware of the potential risks that this dependence is placing on us and i'm sure that is something that ian would agree with. there is risk here, you have to be smart about using the technology benefiting us and that is the part where 2018 will be important. people have to protect

themselves in this online environment. >> talk about the convergence between artificial intelligence and they could data. in five or 10 years, how that change our world? >> i think the term artificial intelligence is misleading because it makes people think that these are devices that are like human beings, they can build models in their heads about how things work. it is not that fancy. it is a lot simpler than it looks or sounds. big data is a completely different thing than artificial intelligence. what we are seeing happening is huge amounts of data being processed by these programs that we call artificially intelligent. we use the term machine learning at google because that is closer in spirit to what is going on. processing a large amounts of data and driving what is inside of it is what some of these tools are doing for us. but in the end, they are tools. it is important to recognize that is the human beings that

use the tools that really make a difference. the tool by itself just sort of sits there. >> i agree completely that this is a wonderful and unprecedented time for what technology can do for humanity. in the same way as dominic barton was saying before, economics right now look so much better than they have over the past 10 years. if it weren't for the politics i would feel so much better about these things. and yet we know the alternative to what the americans are presently driving for ai, machine learning is what is happening in china, and they do not play nicely together. we know all the efficiencies that are being driven by technology to create more money for the global marketplace, if the politics don't find ways to help people make that transition , you are going to see a lot more instability in countries, a lot more challenges. i think that is what is playing out in 2018. because central governments either are getting it right, are

not seen to be legitimate or actively fighting in different models, that the technology becomes tools for conflict as opposed to what i know you wanted and have wanted and fought for since all of those discoveries you have done. trying to create a mechanism to bring more people wealth and sustainability. >> i really love the way you put this in perspective. what i see is an enormous ability to bring knowledge together, to allow people to share what they know and work collaboratively. these tools allow people to do that. on the other hand, we also create huge risk as we depend more and more on these things. there are people that don't mean us well and would like to exploit our dependence on these technologies to disrupt things. the peculiar situation in china

is that as they increasingly invest in artificial intelligence and internet software, they become increasingly dependent on that and therefore, their risk goes up as well just like ours has. so we have a very interesting situation that may become destabilized as a result of people, for example, in russia who would like to disrupt everything anyway they can. >> if china wins this race for breakthrough technology, what does that mean for the rest of the world? >> the rest of the world is going to be watching the chinese and americans investing very heavily in robotics for example, artificial intelligence machine learning and software and everything else, it makes it more competitive. can we make it possible for the rest of the world to take it for of those capabilities of well? i think the answer is yes, we can. as these tools become affordable and more available and people learn to use them, the rest of

the will be able to take advantage of them and compete. was google's chief internet evangelist. coming up, we will preview the world's biggest gadget show. why tech companies are returning to the showroom floors after several years of low attendance. and a feature i want to bring to your attention. our interactive tv option, check it out, tv . you can watch us live, send out produces a message, watch along with our charts on the air. check it out at tv . this is bloomberg. ♪

♪ lyft is set to show off a

fully automated ride hailing service. its larger u.s. rival uber are betting the tribals -- drivers will enable this. they enabled software developers and carmakers to plug into his network of nearly one million rides per day. this year, google is setting up a booth for the first time in years. executives from amazon, apple and facebook are expected to be roaming the showroom. joining us now, our reporter who covers google. google is going to have a booth what can we expect? , mark: there are a lot more competitors. google is pushing out its own version of its home speakers, apple is working on one, samsung and a slew of chinese companies will be there.

what we are seeing this year, a lot of major tech companies here and china are working heavily on ai and ai features where you have software combining with hardware. emily: what is google's interest? mark: they are investing in hardware. they have their pixel line, they want to make sure they don't lose the home space to competitors like amazon, apple, facebook. they are aware the future is moving toward a world where we are moving beyond phones. they have the big lead on the software side and we want to make sure that they are still involved in everyone's lives. seem like anyone is in the lead when it comes to the living room? we know amazon got a head start with echo, but apple will come to market with one scene. mark: the market is pretty young.

amazon has a big lead with developers, which is key. they are having a lot more developers build software for the echo. that is still premature, i think there is a chance that google, apple, some companies coming out of china that could make a mark here. emily: when we say that apple , amazon and facebook executives will be roaming the showrooms what does that mean? ,mark: they won't be wearing nametags. but we do have a sense that this will be becoming a much bigger priority for all those companies. they will be looking for key suppliers, mike kelly wrote a pretty good story about this, you need a specialized chip, a lot more hardware to keep up these advances in software. that is also where the show is major for the car companies, the same as the detroit auto show it , shows the epicenter is gravitating toward silicon valley and vegas as opposed to a lot of car companies are looking at future electronics and they are also prowling the showroom floor for the same reason.

emily: what about ar? ar npr will be a big part of it. vr will be a big part of it. a bunch of smaller companies, i'm sure there will be themes. snapchatus to see if will have their augmented reality spectacles. they aren't really a failure but they haven't succeeded. i think the point is that this story, this is the less attempt to make a mark and get out the yacht the niche market. emily: eric schmidt is still on the board of alphabet. there is a lot of questions about why this is happening now and it did team a bit abrupt. is there something bigger at play? mark: i don't know that there is something bigger.

he steps down from the role he was in. was ambassador for google for years. the google ceo has become much more the public face. he was very much tied with the hillary campaign so his standing the election -- standing since the election this fall a bit. from what i have heard, he has not been as active, you have the general counsel and government affairs team. you have a big gap there, google does not have a global policy chief. it is unclear if they are really thinking about reevaluating their larger strategy in d.c. and globally in politics. emily: interesting. glad to have you back. mark covers alphabet for us. thank you so much for stopping by. be sure to turn into our coverage of the world's biggest gadget show, including an interview with sony next tuesday. that does it for this edition of "bloomberg technology." check us out livestreaming on twitter. that is all for now, this is bloomberg. ♪

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