>> it is 1 p.m. in singapore. juliette saly. taiwan falling around 5% and set for a correction after shares months. the most in 15 overnight, a trillion dollars was wiped off equities in new the dow lost 1,100 points. investors are piling into u.s. futures in the usually quiet trading hours in asia. took spread to asia, they off at 10:00 a.m. in singapore, traded, 30 ontracts the average over the previous week. 7,000, digital

tokens are feeling the backlash regulators nd against the frenzy that had highs. reached in 19500 december. a s is bloomberg, we'll take look at the markets and we have seen australia close out looking selloff lid, a big coming through there. hong kong is down on the lunch break and india coming off the as well.ghs the selloff is continuing. this is bloomberg. ♪ ♪

this is bloomberg technology, finally colliding in court. we'll take you into the first day of he silicon valley's trial of the year. crash, bit coin sales below $7,000 coming off peak.ecember we'll track the biggest collapse n the market since bloomberg tracked prices. nd the heir apparent, set free less than a year after the bribery conviction. first to our lead. valley's trial of the year officially underway, lawyers made their opening monday in the most highly anticipated case. awyers for both sides made their case in the lawsuit that waymo'suber of stealing technology to kick-start its own to get an autonomous unit going. matt, legal analysts for bloomberg intelligence.

at the trial re today. joel, i start with you, break it c.e.o. on the first on today, what happened? joel: he started off explaining, narrating, somewhat i thought a video of waymo cars making their way phoenix he suburbs of to explain to the jury what is going on. email, onfronted by an his testimony was that he was urprised by anthony, the engineer at the center of the lawsuit leaving, resigning, but confronted with a lawsuit, i'm sorry, with an mail one year previous to that to his resignation showing that he shouldn't have been surprised at all. hammerings is kind of home a point that uber wants to brought this o suit to restrain and keep employees that they were about people leaving. emily: matt, you have personal experience with both of these

as a litigator in your former career. each o us about who is on side here. att: sure, so i mean both sides have top quality legal counsel, you have a little team on one side, these are trial lawyers, their is to break down complex legal matters and present them to a jury. of what we see at trial is narrative-based. there are stories that both home. are hammering on the waymo side, the story is going to be uber cheated. they looked for cheat codes and short cuts. on the uber side, they're trying and point out y where waymo isn't telling the additional provide context and point out that the ompanies are competitors, this trial is as much about trying to ide the ball and really just kind of drag down a competitor in a very public square.

documents to e back up their claims. interviewing to be and putting some key wits on the names. some pretty big we'll see the heavy hitters from both google and uber up on the stand. it's up to the jurors to make sense of it and try to figure ut which narrative resonates most and which one rings true through all of the evidence that is presented through trial. joel, the former c.e.o. of uber is up soon. expecting him to testify? joel: it looks like he'll be up tomorrow. you never know how long each witness is going to spend on the stand. likely testify tomorrow. aymo came at him early and pretty hard in terms of kind of agging him with being the mastermind of this alleged trade secret staff. he is on the stand for a long to have a is going exam i think, very tough

nation. it's up to cross-examination to push that back. expect him tomorrow, it could be wednesday. emily: matt, do you have a ense of knowing both sides, knowing the cases that they have better argument here? matt: it's a close call. presented s that are at trial are very convincing. it's difficult to really read but the jury is thinking, there seems to be some sympathy, at least in opening arguments ith some of the themes that waymo was throwing out there. on the other hand, there is a uber key evidence that brings up in terms of the the business influences that gave rise to this litigation being filed. say. difficult to i think that at least in a lot reports that waymo has gotten hey of the issue at trial. see some subtleties for

the full o not give victory to waymo. divided result, favors more in the uber camp. no matter what happens, the will lodge an appeal and both sides will claim some form if it ory, that is doesn't settle before the verdict comes out. joel, this is a -- they haven't gone public. a $70 million valuation. penalty like r completely cripple uber? joe: : as you know in silicon valley, that's not a lot of money. again, it's not the money. win ymo wins, what they'll is possibly an injunction, a uber from blocking using the technology at issue.

even that might not matter. argues, we have done a design around anything that soht use these trade secrets we won't be hobbled or hurt at all by this. to be seen. this is really about the technology. kind of an emotional issue here more than anything about theft and kind of a back tabbing deal, did uber do this and ymo and larry page google. emily: you are going to be day, g us apprised day by as this trial continues, thank you both for giving us that update from san francisco. with uber, another lawsuit against the company has come to a close. victim of a sexual assault india agreed to dismiss her case. sued in san francisco federal court in june over a laim that executives acquired her medical records without her consent.

he woman said her driver raped her in december 2014 after she fell asleep in the back of the car. after facing threats and harassment online, breanna run for congress to fight for the rights of long line users in washington. with her next. if you like bloomberg news, on the radio. this is bloomberg. ♪

emily: comcast could consider topping disney's bid for fox, but no decision has been made, his according to a report from cnbc. and s of comcast declined fox moved higher. disney is preparing for a asponse in case comcast makes bid. over the last year, big tech firms stand accused of as selling ns such campaign ads to shadowy russian to ps and not doing enough fight harassment and threats on their own platforms. running for w congress in massachusetts' eighth district and is here to how she wants to make a change, she knows from person the ience how vicious trolls can be. you played a critical role in my that is out this week. i'm so happy you're here. important part of this story, a whole chapter on

trolling. >> i want to thank you, you have written one of the best books silicon valley that has ever been out there. it cked it up and finished in one setting, it's amazing. emily: thank you, you have all.d through it take us back to gamer gate. remember e may not just how bad it was, it was a ago and suddenly you had, what seemed to be the attackinging industry you. breanna: it was really harsh. forces that became the alt right, they found a playbook to game e any woman in the industry that they didn't like. this he would go after her career. they would critique her, send her threats, try to get her from her job. this was happening left and right to my friends. i realized that the men in our field were not going to speak

women that were being run out. i had many back channel asking them to do the right thing and they wouldn't. hat i learned during gamer days, i had to do the right thing myself. here is no good way to have a law and order episode made about you, that's what happened with all of the threats i got. you were getting threats facebook.r and breanna: real life. few days ago, i had somebody outside my new home sending ctures and me -- mily: you're still getting harassed? >> absolutely. losing an award, a man who made atari. i spoke about that, the threats are back in. exhausting to deal with.

apology here was an issued. one of the thing i talked about the woman , what if were more involved in creating or twitter in the such ing, it might not be a problem if there were more women on the early team. he said we weren't thinking it.ut they were thinking about wonderful and amazing things easy ith twitter, not how it is to hurt death threats. design of facebook or would online harassment not exist. i wouldn't say it wouldn't exist because it exists in different forms. different people at a table such as putting their input into the product, it's a product. the tech industry creates very ts that work for a small segment of the population. it didn't work well for me or

you. harassment, we are of the people actually running game studios and there s so much money that we're leaving on the table. emily: what do you think of the changes that facebook and has made recently? >> twitter has done a lot of work that doesn't get credited. see the filters they put in place to stop me from seeing the threats. i appreciate that. i think they have taken steps, a way to go. >> twitter, facebook, goggle always, fake been in the russian meddling election, do you think that self companies can regulation or do lawmakers need

here?p in charlie: that's the worst case scenario. i say that as medicine who is congress.or in my field, video games in the really interesting xample, it was completely unregulated, it was the wild, wild west. congress held some years, ratings an games like communers could make an informed decision. case scenario.st that only happened because congress got involved with that. that congress has a role in serving, you know, of fake news, basically campaign interference, harassment. emily: i know this is part of your platform.

re there laws, if you're contacted -- that we have for this were laws written in the 1990's. changed a lot since the 1990's. to come in ngress and write those laws and fund the divisions of the f.b.i. we can look at the crimes and prosecute them. due to the freedom of recast, we have eople that sent me the most ex-place sit death threats that you can imagine. to chose not to bring that child and prosecute those people. fund a to, i believe, certain division of the f.b.i. that is going to look at the cases online. the how different would aming industry be if the women

were involved from the start. > we would have much better game. fir we would have better characters and making more money. game industry is sick and we're not really in a good place right now. emily: how much progress has made since gamer gate? breanna: none. when i stood up against it, i believe the men in the field the right thing and change. we just haven't seen it with the #metoo right now, the only consequences we have seen for one in my field is editor-in-chief fired about it and ne freelancer fired nolan bushnell not getting an award. that is not ground-breaking progress. john: why should we vote for you. we need a generation of regulated that are informed by

normal.l this is not bipartisan, this is by partson issue. two teenagers essentially infrastructure. we have to really double down cybersecurity. i think there is a litany of perspectives here just not being cross and r current we need new leaders. emily: we will be following campaign. the congressional candidate in massachusetts, thank you so much for joining us today. thank you so much for your role. we're going to continue to ddress all the issues i cover in my book throughout the week with voices like facebook's sandburg, paypalco managy smith, vice president and c.t.o. right here bloomberg. coming up, upping the ante for

qualcomm, the latest next. this is bloomberg. ♪

emily: it's the latest development in the consolidation industry, broadcom offered qualcomm shareholders a payday raising its bid forquality come to $21 billion. offer of $81 per share is 17% higher than the proposal in november. says this is the best and final offer. joining us is our editor at johnson who is in san francisco. going to bite here? cory: hard to say. regulatory. is the price is well above where he stock had been before broadcom showed up with this kind of offer.

he question is whether the regulators will let this go ahead. qualcomm shareholders would have to believe their low stock would benefit, i say that from a kind f valuation standpoint, that broadcom shares would grow more than qualcomm shares are right now. case, the at were the long period of review of egulators in the europe and u.s. is reason for shareholders to take some time to consider this as to whether or not this enough money. the combination of stock and cash means they can't just take bank.ash to the they got to believe that there is a future in broad come's forward.ing emily: the landscape of the hip industry has shifted dramatically sinned broadcom embarked on this takeover with so flaws that have been pervasive. do you think that will factor in review of whether more

consolidation is really good? cory: what we have seen in the months is concern about consolidation and they understand these markets. the things that we have heard them in particular the fight against intel recently hows us that the european regulators are very concerned -- they find to qualcomm they were considered that intel couldn't get in the because qualcomm had an illegal deal with apple according to european authorities. hat shows they want more competition, not less and hey're willing to enforce that competition. the idea that they would take out one of the largest in conductors in the world qualcomm, it flies in the face of the notion of what the uropeans have certainly espoused in terms of increasing competition. 99% of all data chips being sold by intel, the consolidations market just isn't good for industry. it isn't good for diversity, it

innovation, the consolidation of any market lead to the best stuff. emily: qualcomm is tied up in lawsuits all over the world with apple. i'm curious, if the takeover status of es the those lawsuits change immediately. >> there is absolutely no way to know if that's the case. it seems ridiculous on its face. qualcomm, you have to nderstand, this is a business that was really built with mind.t litigation in it was built around international property, not prowess.urering it is always dependenten your with, the fight company using their chips and esigns to make chips and make devices. for qualcomm to be in a fight is

as old as qualcomm itself. emily: cory johnson, editor at break, we are he tracking the biggest bit coin selloff ever. discuss, this is bloomberg. ♪

>> the acceleration in u.s. wage faster oesn't support wage hikes. with aund manager saying inventory jennings. kashkari said years of underinflation says overshooting not a problem. >> we have been consistently below our target for six or above ears, so if we go our target a little bit, that shouldn't be anymore concerning than us being below target. any of us are seeing any urgency to slam on the brakes. do need to pay attention to the data.

juliette juliette: preparing for several outcomes including the possibility of the u.k. leading transition. he is working with the bank of england to ease the impact on industry.ial coalition talks with expected to wind up in germany today with calling for a simple yes or no decision. concessions bring on health insurance and labor chancellor merkel. is investigating whether north korea orchestrated a hack. t caused similarities to past cases linked to pyongyang. masterminded it to roll its weapons. this is bloomberg and have a

ook at the huge selling we are seeing across the region today, the regional index having the 2015.st drop since august you can see the i.t. players 4.8% ng the brunt, down with a huge plunge coming through today. australian market was lower at 3.2%. a huge like there was order coming on the close there. alaysia under pressure and the nikkei index up 5.6%. is the biggest plunge since the brexit vote. currencies, a bit of mixed ovement, watching the yen, up half of 1%. what you can see in the bond market as well, as you would just the yen rising, but also the asian bonds right across the board. is the picture when you look at sectors not very good at all. i.t. stocks under significant pressure 4.3%.

organ stanley has today downgraded the space in asia. coming under pressure handling over a lead.ve this is bloomberg. emily: this is bloomberg technology, i'm emily chang. back to one of our biggest stories, the fight between waymo uber in full swing. how did they get to this point? a look.es eric: a home healthcare at&t lineman and on technician, three of the jurors. self-driving unit versus the world's most valuable start-up, uber. those jurors will be deciding if w-- stole credits from

secrets from waymo. will have to anxiety from r stole the recipe selling secrets. google ll of former employees led by anthony. they found g auto, that he kept a lot of his old google emails, did that material uber and did o uber use those alleged secrets o kick-start its self-driving unit. the stakes go beyond the tech and the dollars. t could decide the future of recruiting talent in silicon valley, impacting how easy it is leave one company to take their expertise to another. the trial could be the silicon valley red carpet with google founders sergii possibly testifying, travis is also as well as appear the man at the center of it all,

anthony himself. by march whether the jurors believe the search do ne giant with the slogan no evil or the upstart. whether secrets were stolen or is all just the case of hiring the right people. emily: that was eric with a at waymo versus uber and the big trial. we'll bring you all of the news from that trial as proceedings continue. to the crypto market. bit coin is trading below $7,000 earlier. all-timear cry off its high of almost $20,000 in december. for more let's bring in our johnson. large cory there is a lot going on with the broader markets. in particular brought bit coin down? a marathon, carol assar and i did on bloomberg radio as the markets were going down. nontech stocks, oil crypto off and, yes,

currency selling off, baby and bathwater. notion that bit coin would be a noncorrelated asset. that's clearly not the case here. when the selloff was happening, bit coin was as well. one of the most interesting was that gold that was up just a little bit today really separated. the notion that it was a store of value, you go to my terminal right now, the line in the white price of bit coin in the last month and the gold colored or the blue, gold because it's gold. i thought it would be clever if it goal. gold is going up a little bit. bit coin is going down. three days, the change is more extreme. old is showing some resilience in a selloff and bit coin certainly is not. this notion that something is a store value only has when people think it some value. i believe that the crypto

urrencies that don't have a function to them that, that are meant for a proxy, a way to move money, not an actual functioning ase study are always going to have these problem. fundamentally it's about belief. talk about the crypto effects.feeling cory: we had this conversation many days over the course of the weeks, they are trading all alike. they are not alike in the way these things are used. if you look at the way transactions happen with the mentioned, theou transaction close times are all map. the light coin is doing them in 20 seconds, sometimes 20 minutes, coin can take over a day to get a transaction complete and clear. o the technology underlying these things are very different. the use case is ultimately going to be very different. treating them all the same right now. until we have a better sense of

hat they do, the market gets smarter, they're going to trade dumber. the headlines are affecting these things. that's not going to end. we have the heads appearing about congress talking the desire to regulate some of the trading exchanges that have disturbing really trading patterns going on in the markets, in the market for these alternative crypto currencies. pleasen the industry say regulate us so we can have a fair and orderly market for the these wanting to trade things. the short-term headlines could be bad news for the cryptos. emily: we got some new statements from the s.e.c. chair card issuers alting purchases of crypto currencies. is there a tide turning here? are these things going to pile p and make things a lot more difficult for traders in this market? ory: you weren't able to buy stocks with a credit card. you aren't able to buy option

with a credit card. that you can buy these currencies for a credit card didn't seem like a likely thing. it was more of a point that the credit card issuers didn't think therm taking on with the acquisitions and realized they had to do something different. of playing r catch-up. frachingly, we see is that across the board where and lots ofnd banks industries are paying attention o the possibility and recognizing that it falls under their purview, whether they want it to or not. regulator or a bank or a credit car issuer. emily: internationally, china all websites including foreign plat performs relating to crypto currency trading. this just continuing the steady we -crypto drumbeat that have been seeing from china. it only seems to be going in one direction, if you will. cory: i don't know, though. s i talk to technologieses, we talk to venture capitalists, emily, you talk to these people

think of me, i can't one that is not excited about different lity and a way to do things. bit coin may not be the answer. capitalists that i talk to and others are looking some as a way to solve real problems. this is the case of the general public not quite getting it yet, technologieses seeing the opportunity to do big things there. i don't think it's going away. emily: cory johnson tracking he selloff today, thank you so much, cory. ratings for america's one-day the ing event declined for third year in a role. the nfl super bowl showdown eagles the philadelphia and the new england patriots had score of 47.4 according to preliminary data on nbc. that is down 3% from last year. advertisers ot, spent $414 million, the second history.uper bowl among the advertisers was tech

iant amazon which said to have spent $50 million on its 90-second spot. up, gearing up for the yet, how cket launch will impact the private space sector next. this is bloomberg. ♪

emily: porsche is planning to electric billion on

cars, double the estimate. capable of traveling single 00 miles on a charge is expected to be in 2019. $75,000 for a starting price. elon musk is getting ready to biggest rocket in spacex history. reusable launch vehicle that will have heavier pay loads satellites and national security missions. it could one day send paying flights around the moon. oining us to talk more broadly on the private space sector is chad anderson. pace angels is the leading source of capitol for space start-ups. talk to us about the importance or failure with this particular mission. >> it's important to understand and what means constitutes a success. expectations have been tempered. is getting off the pad

and away from the pad so it doesn't damage the pad. emily: even if it crashes? if it crashes or blows up, they will get important data. the biggest rocket since era.saturn5 in the apollo emily: if they can pull it off, what does it mean? chad: anything less than a mars, ss or bit to inserting a man inside to mars, will give some of the people, and ritics some fodder additional ammo to go after them. if it's a success, it gives nasa an option, more options. something other than s.l.s., costs .1 of what it would cost to do it on a government rocket. emily: it's less than flawless, is the criticism warranted or do sort of any

a step ntation there is forward? chad: we stagnated in space for a long time. launching our first satellite to launching our first putting boots on the moon and then we slowly have that pointsing since down to lowest orbit to the have the d we don't ability to take u.s. astronauts to lowest orbit. slowly getting back to that position of u.s. leadership n space and this type of innovation is necessary in order for us to take the next step and future. our emily: so elon musk on a call today echoed what you just said. test mission. we don't want to set perfection. of i would consider it a win if it clears with the pad. alk about the market for private launchers. chad: it's an interesting dynamic. was ars ago when spacex

first founded, there wasn't a market for launchers really at all. was that theresm was only one customer and it was the government. that's what we're hearing the same sort of criticism today in the deep space mission, why build such a large rocket, the only customer out there is the government. when spacex first came on the scene, what they did was realize, hey, there is a lot of exchanging hands for satellite data. i can think of a lot of other for this data, but why don't i see this being adopted broadly in the market. well, it has to the with the act that launches are very expensive. there is no transparency. you don't know how much it costs orbit.to emily: you are the leading source of capitol for space start-ups. where is that capital going? chad: it is going across the space in launchers specifically. pacex is one of 60 that we are

tracking that have raised outside equity financing. successful first launch, we have seen $7 billion go into launchers alone. have seen money go into other sectors as well, satellites of the e of them, one more far reaching things like resources in space and to the moon and other planetary bodies as well. costs going are down? in space? chad: across the board. of the big things and spacex identified this early know, there d, you is no transparency in this arket and also the prices are extremely high. so by addressing those two barriers to entry, they really pened up the market and opened up the market in a big way for all kinds of satellites, new constellations coming on the market that are doing all kinds of amazing things. the big private space flight companies, all of the slightly are

different. how do they stack up right now against each other? who is in the lead on what, who behind? chad: spacex is leading the charge. they have been leading the for a while. blue is doing amazing things as well. operated in stealth for a while. they are also developing the space, the re for railways to get us to orbit and beyond. one to s the first launch a rocket of this size. heels.s nipping at their virgin is doing something a little bit different. anderson, thank you so much for stopping by. we will be covering this tomorrow. free after a king year in prison for bribery. this is bloomberg. ♪

emily: china's group has agreed to serve the stake in it's subsidiary. is wanda film's first major sales. sale comes as the group's founder is selling off its assets from real estate to down debt.elp pay it could help them play a larger in the film industry, the largest box office forecast by 2020. in south korea, jay y lee is free to leave prison almost a he was detained in a bribery scandal.

four put on probation for years. he was the highest profile business figure that brought former south crean president. oining us live from seoul is stephen engle. this has happened with other executives sentenced to time in past. is this just a show? stephen: that's a big question asking.re this is ripping off the band pineda before it was healed. thought the cozy relationship between a businessman and politicians was inally -- they turned a new page on that. they thought that when the district court in august handed five-year prison sentence for various charges corruption and what influence peddling with a now deposed president, but now after this high court, the appellate yesterday that they are lowering the sentence to 2

could walk d he free. he walked free from the seoul detention center yesterday. he read from a paper basically saying he apologized for not best side the past year was a valuable time for looking inwards to himself, but he is same time you know going perhaps back to the company and it could be business as usual again here in south korea. him to go expect back to the company and go back into an operating role? e talked about the fact that samsung hasn't seemed to have been affected, when you look at the products nd they are turning out, the affected byn't been the scandal, he is going to go back in? don't know if he is going back to the same role that they had. have new division heads, a ew c.e.o. at samsung, they put new leadership at the end of the third quarter, you're right, the company is doing great, a record

earnings. the fourth quarter was gang busters, it didn't meet expectations from analyst, but a good number in chips and in mobile phones and screens. we don't know if he is going company, but keep in mind, as you rightfully said, other past e top, chairmen or heads of companies father, they 's have been convicted of various crimes, they were all given sentences and went right back to their company. i think there will be a cooling off period and see how the reacts to this and then going forward, the people that this coulding to say be bad for activist investors who perhaps want change within the company. they can go on a big massive acquisition spree, they could do want at the expense of the minority shareholders. that's what some of the worst according to some of the analysts we have spoken out to be.n emily: you will keep watching us, steven ennal from

seoul, thanks so much. une in all this week as we explore the themes i write about in my new book, breaking up the silicon valley. we will be hearing from sheryl and megan smith throughout the week right here on bloomberg technology. excited to bring you all of these interviews. streaming on twitter. that is all for now. this is bloomberg. ♪

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>> good morning. i am anna edwards. manus: i am manus cranny. these are your top stories. anna: asian equities plunged. japan's benchmarks clerk with 10% correction, and u.s. stock index futures continue to tank. manus: stocks fall. investors flee to u.s. treasuries. the central bankers from draghi to kuroda weigh in on inflation. anna: we hear from bnp paribas's cfo.