it's a new kind of network designed to save you money. call, visit, or go to xfnitymobile.com. ♪ emily: i'm emily chang. this is the best of bloomberg technology. of our topu all interviews from this week in tech. coming up, snap sewers in trading after smashing estimates in the fourth quarter. we write down the company's first earning victory since it went public. after reporting fourth-quarter earnings, the electric carmaker still sees its mild reproduction meeting weekly goals.

earnings.eak down with facebookon sandberg. she says the me too movement has gone far enough. after a blow at first quarter, revenue topped estimates for the first time since snap went public almost a year ago. snapchat fourth-quarter sales jumped 72% and 200 and $85 million and instead of active users jumped to 187 million. up 18% from a year ago. we have deborah in from seattle. also, sarah frier recovers snap. what did snap get right this quarter? sarah: they been transitioning their advertising business to make it more automatic, more programmatic. they're selling as automatically which means they could have a

better base of advertisers. the price of as have gone down but the volume and the a lot of time people look at these as going up, snap has been able to really make this work for them in this quarter for the first time. emily: we know that been doing a lot, there is a whole redesign and perhaps we are seeing some of the results of that. but what do you think is really driving these results? >> i think it is a couple of factors. i think that snapchat really needed this quarter and because quarter was not so good for them. this is a super positive sign for the company. i feel that users are still heavily engaged with snapchat. that is proven by the increase in user growth rate this quarter. i think advertisers have been skeptical. they still see snapchat as a place where they can be super experimental. where they can try new things and weather can really start to

engage with that super important youth and teen audience. emily: i am looking at the after-hours chart, still up 20%. the big question is can i sustain this over several quarters -- not just one? sarah: at think that is a huge question because this company hasn't proven that it really has a lot of visibility into the future of its business. prior quarters included big surprises, nothing to show is that future quarters want as well. they still have a long road ahead of them and they are competing in this market that is dominated by facebook and google. yes, those big players have advertisers wanting some alternatives for their money. snap is marketing its up an alternative, much cheaper ad. still, it is very competitive and instagram is just growing past what snap has in terms of test the product of step is copied by facebook and instagram.

they are both accused of lifting some of snapchat's product ideas. what you think the real challenges are for snap going forward in terms of what you will be watching? >> to put a good numbers on what sarah just said, we are forecasting that instagram will have $8 billion in worldwide ad revenue compared to 1.5 billion for snapchat. you can see there is a lot of gap between the two companies in terms of advertising revenue worldwide. however, snapchat is growing at the same rate, about 90% growth this year compared to about a similar amount for instagram. to put those numbers on it.

to get back to your question, i think that the competition with instagram and facebook is still something we are watching very closely. we are watching because snapchat has been very aggressive with new innovation. we are seeing things like maps not perform as well as the company had hoped. we saw spectacle not perform as well as the company had hoped. the question is can snapchat actually continue to be aggressively innovative and successful at those innovations and stay a step ahead of its competition. emily: what about the leadership turnover at the company? is that a concern to you? >> to me, not so much. you always want to have strong leaders at the company. we are looking at growth in at revenue, user changes, both were positive this quarter. i don't think the changes in the management of the company are something that is impacting either of those factors.

emily: evan spiegel has made it clear that he knows that people work at the company want to hear from them more. you think we will start seeing more of him out there? sarah: i think there is a lot of confusion at the company right now. this redesign was supposed to be done by the end of the year and now we are seeing that it won't be fully rolled out until the end of the first quarter. there are clearly some things that are missing deadlines, there has been that management departure that you mentioned. i think the company still has a lot to work out in terms of how it grows. there have also been a few rounds of layoffs frequently at the company. emily: apple is pulling back on buying corporate bonds with its overseas cash as it prepares to bring the money of the united states. this is according to people familiar with the matter. about 100 $57 billion of apple 285 billion is invested in corporate debt, making it a leading lender. investors have been bracing for a market with fewer buyers since the new u.s. tax law was enacted late last year.

coming up, has the me too movement got too far? our exclusive conversation with sheryl sandberg and her new call to action. plus the opinions of diversity and meritocracy have evolved into a conversation about fashion. this is bloomberg. ♪

♪ emily: the brothers are not giving up on cryptocurrency. that is despite the cryptocurrency plunging to the lowest it has been since mid-november. >> we don't sit there and watch the price day today. this is after decades were many decades. like i said earlier, we remember when bitcoin was $8. so, as far as we're concerned it is all gravy from here. emily: the twins are early bitcoin investors.

they just told bloomberg television that increased regulation is good for digital currency. as one of the cofounders of paypal, max rose to be one of the most powerful men in technology, taking a seat in silicon valley. his opinion around diversity and hiring has evolved greatly. this is breaking up the boys club of silicon valley out in stores area we caught up with him and talked about how things operated at paypal. max: i would describe my efforts at the time with the benefit of hindsight as generally unaware -- i was not particularly concerned with the gender balance or any kind of balance, i was trying to hire good people as quickly as i could. the one great source of

excellent coders i knew was my alma mater from where i came less than two years prior. i was actively vacuuming up the best and brightest. this all happened to be men. there are men of a lot of divers ethnic origin. women,ere very few and the few that i did know all seemed to switch majors to something as before they graduated. >> do i think meritocracy is problematic? one of the things that they are told me was this belief that it was a meritocracy and they were hiring based on merit. when in fact you are hiring a lot of people you know. >> i think meritocracy is not a bad idea. i think being able to send people that are here have earned their spot is very powerful, it is a great motivator to say you are the best of the best, the downside of meritocracy, you select for people you know, you don't how to into other groups of communities, other flavors.

select from ato where we run out of candidates because i ran out of male friends and there is not anyone else to recruit. >> one of the most interesting parts of the story is where you admit that there were some growers. it was a growing culture that developed and you took action. what happened there? max: i think what triggered my attention to all these things was where i started out with a neutral point of view, the culture which ship itself, we will get right people in. while at paypal i was too young and going to quickly, i did not have enough of a worldview to understand what was being shaped. while at slide, i started to realize that what was forming

itself without any guidance was actually not what i wanted. it was a hard drinking and -- on a bad day, sexist behaviors. that was not what i was comfortable with and when i sort of started to gently steer it wasn't going away on its own. that was what i said in i don't take matters very seriously and start pushing out and drawing some very bright minds about what is ok, what is expected, it wouldn't cure itself. firm, you area taking a different approach and you are much more focused on hiring and promoting women. what are you doing differently at a firm that you did not do paypal?

max: the most important thing that we did is we took culture as a first-class. there is a moment where we didn't ask ourselves what is this process, this decision, how do we think of our culture -- this is the first company where i wrote down our core values before we made is a. all these properties found in the past, the culture merged and with a firm, i came into the founding with a view that i have to form a culture, after control what i want this company to be when it grows up, even if we have no employees, i want to know that it is the kind of place i am proud of as opposed to what i'm trying to fix. how do we get more people and mostly meant to understand this problem and do something about it? what do you think needs to be done? what do ceos and investors need to do?

max: there is a bunch of things, i don't know if i have an exhaustive list. just being aware of the fact that it is a talent war and the way you when it isn't just by saying i am going to go back to the same old well and get the same people out. what has worked for us is you widen the net you cast and naturally that will lead to embracing. conversations there levchin, the ceo of a firm. a new cause of action in the wake of the me too movement and it is all about getting more men to mentor women. this has just published a survey that shows a majority of men are now want comfortable working along with women or mentoring them. something that samberg calls unacceptable. we sat down with an exquisite individual talk about the new mentor her movement, the backlash against me too and more. >> now is a watershed moment, me too has shined a light on the

need to end sexual harassment forever. it is critically important as you write in your book that we get more women into leadership roles. today we are publishing a survey done by surveymonkey that says that almost half of male managers in the u.s. are now afraid to to do common work activities with women. it is a reaction to what is going on, men stop mentoring women, that is unacceptable. we need more women in leadership roles and women have long gotten less mentorship and sponsorship than men, particularly women of color. now is the time to invest more in women, not less. mentor her -- which we are launching today calls on all leaders to mentor women but also to make access equal, our survey also shows that a senior man is 3.5 times are likely to hesitate to have dinner with a female junior colleague than eight male -- a junior colleague and five times less likely to feel they can travel with a female colleague. we have to make access equal.

if you are not comfortable by having dinner along with element, don't have it with men. comfortableot dinner alone with a woman, also don't have it alone with men. what matters is that access for women is equal. again, now is our time to invest more, not less in getting more women into leadership roles. upir pwm e--ared and data at your own experiences with harassment. leg, under the table, on one to do is to the

hotel room where you had to call security. 25% of the people think the reports we have heard so far of sexual harassment are just the tip of the iceberg. do you agree and what you think is the next chapter? >> i feel fortunate that everyone i've worked for has not just an appropriate but supportive as my next sentence is that should not be lucky, that should be basic, every woman and man deserves a safe and secure workplace. that needs to change but in order for it to change, we need is to to fill long managing change. many companies of all types and organizations of all types to adopt clear policies, policies that when reports are made, it is with action taken, we need victims to feel safe, the legal support they need, the social support they need and we need to end the culture of complicity were people can look the other way and not feel responsible. we are all responsible for what goes on in the workforce. importantly, we need more women in leadership. it is not a surprise to figure out that organizations that have more women in leadership roles have lower levels of sexual harassment and better worklife policies and perform at a higher rate because more of these teams perform better. so in this watershed moment, we need to make sure that we really continue to invest and get more women in leadership roles.

emily: some people have complained that the me too movement have gone too far that some of the stories should not have been told. lynching.is a public what do you think? sheryl: i don't think me too has gone too far, it hasn't gone far enough. this can't be a moment in time where people raise their voice. these brave women that have raised their voices, they want long-standing change, change that is not just for the date for the month but for years and decades. that means we have to have the right institutional policies and those policies have to do process, investigation, things need to be investigated and swift action needs to be taken. we need to enter the culture of complicity, we need to end the practice of looking at other way. it is on our responsibility. emily: the cofounder of twitter told me in my book that he thinks that if there were more women on the early twitter team, baby on my harassment controlling would be such a

problem. there are thing about great things that could be done with their products, not how it would be to send death threats. my understanding is also that when you got to facebook, you started asking questions about the content policies and that may well be why facebook does a much better job of this. how do think the internet might be different if women have done more involved in more equal numbers at building early on? think online harassment would be the problem it is today? sheryl: i think it is super clear that more women in more leadership rose has huge positive benefits. higher performance for those companies, better worklife policies, lower levels of sexual harassment and i think women play an important role in looking out for some of the gender-based harassment that women have long faced. i think facebook is lucky because mark zuckerberg takes these issues as seriously as i have. do you think silicon valley would be a better place if more

women were running more companies? absolutely. i think every industry would be a better place if more women were probably more companies and women in government. when you fought to get here, women are 20% of the u.s. congress. and often suffers from the tyranny of expectations. all the articles are that women take over the senate. >> 50% of the population with 20% of disease is not a takeover, it was a gap. i think we need to make sure that in this watershed moment, we make a long standing we need, no sex harassment ever for anyone. we are very far from that. this is our moment to make that happen. emily: that was our exclusive it interview with sheryl sandberg.

still ahead, the legal battle with travis kalanick. this is bloomberg. ♪

emily: this week, softbank confirmed it will take his japanese telecom operation public. they will separate into telecom arms. speaking at a news conference, it was said they could spend more time on longer-term global corporate strategy and focus more on dealmaking. travis kalanick took the stand during dealer waymo trade secrets trial and on day two of

of the ceo's's, they went after as -- colin painting him asvis kalanick, painting him someone who was obsessed with winning the race for self driving supremacy. they do not necessarily get very far. joel: this is his second day in the lawyers came at him kind of hard, not as hard as you might expect and of course on cross-examination, movers on lawyers were asking questions were clearly -- they were very well prepared. the big surprise to me was that waymo did not come at it very hard. there was a lot of details that waymo dug up that are very troublesome for over. they did not ask travis kalanick about many of those and that was a bit of a surprise to me.

emily: does that make you think waymo doesn't have as strong as a case as you might have thought? joel: initially i was wondering that but then as i stayed in the courtroom after travis kalanick left, he's always going on. he offered a lot of i don't know, i don't remember about a lot of the more difficult pieces that they asked about as you predicted. i should've taken a better cue from you. then, i think waymo just figured out that that is what they're going to get from him and after he left, a computer forensic expert that is evaluating the case, the most damning evidence came in and offered testimony about all kinds of data and the technical issues and technical problems that over has. it got very damning . problematic very was just anit interesting contrast to travis

testimony. emily: what is next? hopefully fewer i do not recalls. joel: larry page. he is a very quiet person. i've seen and testify before and he is awkward. i think he needs to show up and be better in court than i have seen him. as a result of this good performance for over. now, we will see some very difficult evidence, some technical evidence and we will learn just how deep into the weeds this jury is willing to get. i think that is the real question, it is a dicey proposition to guess what juries will do or what they are thinking. in my experience, juries have taken the effort to really dig into stop and if they do that, waymo is still very much alive. emily: that was bloomberg's joel rosenblatt. still ahead, teslas colbert standoff is only beginning. we will bring you both sides. all episodes of bloomberg technology are streaming. you can check us out, this is bloomberg. ♪

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near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. ♪ emily: welcome back to the best of bloomberg technology. emily chang. the tesla hustle is not ending anytime soon. the company's fourth-quarter results had something for both camps. this was -- bears noted the lack of an update on model through production and that model through deposits. we dug into both sides with roman shot who currently has a buy-rating on tesla as well as our bloomberg editor at large cory johnson. >> a company that has borrowing a lot of money and seeking a lot of customer deposits for cause they can't build.

it is really striking that a company that was once growing in cars produced, and had 60 or 70% is now less than 1% growth in number of cars that you can build. what we are hearing about the first model three is that there are real car guys looking at the car and engineering of the model real issuesing their thumban put through the side entry and can other see through the side. it was really on even that there is attachment and a piece of felt in things with doors, it doesn't close quite right. they are clearly struggling with the production of this model three, it is more than they can handle right now. what we see is a lot more promises about production as we always see from tesla and lots

more borrowing in cash flow numbers. emily: looking at tesla after hours, shares have not changed much. are the things that cory is talking about a concern? >> what you're seeing is real progress, they don't to hundred built 200 to 300 cars. 5000 model three cars in the fourth quarter and based on their production guidance for the first quarter, they will build probably north of 15,000 vehicles. if they can continue on this trajectory, i thought it was important that they reiterated their production guidance, you have a company that will increases revenues to about $25 billion, very hard to find a multibillion-dollar company growing at this rate. >> let's look at #btv two.

-- #btv2401. >> this is what investors thought they were getting involved with. i would be surprised if they believe the production guidelines. if they think they will produce what they said they will produce since they keep missing their own estimates over and over again. i think the whole world really wants this company to be a great success, they want great cars that don't burn a lot of fuel, they look cute and are safe and fun to drive. >> i look at the numbers and they increase the production of the model three by a of 10 in the fourth quarter and they are targeting to increase by another factor of 10 in the first quarter. >> will you say they are going to hit the numbers? >> yes. we have these production numbers -- production numbers and if you look at our price target of $500, it is predicated on them growing revenues to 100% this

year. we are certain of these forecasts. emily: what makes you so confident when this is a company and ceo that admitted that it is facing production help? it has missed many targets. romit: it is true but you have to think about this way. the world is moving toward electric vehicles. tesla is the only game in town. it will be for the next two years. whether they get to 400 units by 221-5000. miss the point.

you have a multibillion-dollar company that is growing at a very significant rate and if you look at the reviews, the customer reviews of the model three and we have driven one ourselves, they are phenomenal. i think for most people it will be the best party will ever drive and you see that in the backlogs. they have a backlog of over 500 reservations that continue to grow. it is a premium car in the right segment of the automotive market. all they need to do is just gain a couple percent and gain a couple percent market share in the automobile industry and they will be doing more than 100 billion dollars in revenue and i think the stock will be quite a bit higher. emily: the managing director and our bloomberg editor at large cory johnson there. this is the world's most powerful rocket, is lifted off from florida after tuesday to embark on his first test flight. it was carrying a red tesla roadster on an endless road trip past mars. following the launch, spacex did something never before seen in space history, it related to the rocket boosters back on earth. the boosters landed at the same time and side-by-side, this is a

major milestone in the company's quest to grow its customers base and fund its life and making it multi-planetary. coming up, after facing threats and harassment online, rihanna decided to take what she knows about the tech industry and run for congress. to fight for the rights of online users in washington, will speak with her next. plus megan smith joins us to talk about the challenges surrounding diversity in the workplace and building a more inclusive culture, this is bloomberg. ♪

♪ emily: over the years, not doing enough to fight harassment to buy threads on their own platforms. this is a massachusetts and new jersey to explain how she was doing a change from tech.

she plays a critical role in a chapter of my new book "breaking up the boys club in silicon valley." some may not realize just how bad it was just a few years ago. harsh coming up to gamer gate. they found this playbook. to destroy it any woman in the gaming industry they did not like. they would center threats, they were try to get her fired from her job. this was happening left and and then i friends realize the men in the field were not going to speak out. many back channel conversations asking them to do

the right saying and they would not. what i learned was i had to do the right thing myself. there is no good way to have online order. emily: physical threats. breanna: absolutely. a brick through the window. through the house in my new home, taking pictures. emily: getting harassed. breanna: absolutely. we had a thing this week. about atari. out threats about that. it is exhausting to deal with. emily: a i do know you were issued an apology. one of the things i talk about if women hads,

been involved in creating these pro-dex from the very beginning, the cofounder of twitter -- products from the very beginning, even that cofounder of twitter said, we're not thinking about it. he said, we're not inking about it and we were just thinking about how wonderful and amazing things could become twitter. not that it would be used for death threats. do you think having more women involved in facebook or twitter or read it, then online harassment would. exist? brianna: the tech industry creates products that work for a very small segment of the population. it is not just harassment. there is a larger business case to be made. in my industry, video games,

women make up more than half of the audience of gamers. there is so much money we are living on the table. emily: what other changes have twitter and facebook made recently? brianna: i think facebook has done a lot of work they don't get credited for. i see the filters in place. for the death threats. they have taken steps. there is still a long way to go. emily: to protect users, are there laws if you get attacked online? is there actual recourse? rianna: the tolls we have for this are laws that were written in the 1990's. the world has changed a lot since the 1990's.

so we need a congress that can come in and write these laws and fund divisions of the fbi, you can look at these crimes and prosecute them. due to freedom of information requests we have people that sent me the most explicit, horrific death threats you can imagine. confessed to the fbi. but they chose not to bring that to trial and prosecute those people. we need to fund a certain division of the fbi that will look into those kinds of extreme cases online and make them eat the justice system. think how different do the gaming industry would be if women had been involved from the start? brianna: we would have better games. we would have much better games, do you know how bored i am with first-person shooters where you kill a million people? we would have much better games. we have better stories, better characters, we would be making more money. the game industry is sick and we are not in a great place right now.

emily: how much progress has been made sense -- since gamergate. could i none. i tell you that we have. up to gamergate, i did it because i believed the men in our field would do the right thing and change. we have not seen it. with the me too movement right now, the only consequences we have seen for that in my field is one editor in chief fired about it and one freelancer fired and nolan bush now not getting an award. that is not groundbreaking progress. we need a generation of legislators that are informed on technology. this is a bipartisan issue. cybersecurity is a huge threat to this country right now.

essential took down. brianna wuks to there. we also heard from someone who has championed improving gender diversity as the third chief technology officer of the united states under president obama and vice president have google before that. megan smith, ceo of shift seven joined us. >> there are people who would love to be part of the tech sector when we are coming into town, cheyenne, denver, atlanta, we just get the word out and then we are running the career fair and its activities are showing up for this mentor and we are doing. a lot of people want in on these better high-paying jobs. we pay 50% more than the average american salary. there are hundreds of thousands in every sector. softwarenies are techies at this point.

emily: statistics are downright depressing. whitey think that is still? extreme sexism, racism, ageism, all of this. we really have to evolve out of this culture. i am halfway through and i know so many people in their and it is full of -- we got us out into this -- let's pattern map the person or profile the funding, it is a huge challenge. over 90% of money from the venture world is going to men, 75% is really going to silicon valley, new york, boston. we run columbus ohio and said, you know ohio is getting in one year what silicon valley is getting in one week.

from so manyd extraordinary entrepreneurs. i am encouraged by those from all backgrounds that we really need to get behind and the list of this country. emily: i'm not sure if you've got through the google chapter but i read in the book that larry page really focuses on hiram stroman and have incredible women sheryl sandberg and yourself and if you look at the numbers today, google's numbers are simply average and they're basing this big lawsuit from the department of labor about pay disparities between men and women. what do you think went wrong? what is the lesson? >> it is all the companies, we just have extraordinary bias built in so interview bias, leadership really has to make this a very top priority. the leaders of all of the tech companies. 22needs to move from number

number one. number number 20 up to one. diversity makes better products. opportunity and import for everybody. we really need to do this work, there is lots of stuff that most countries are doing. we wrote a piece called raise the floor and we listed all the things that leaders can do in your culture, there are so of many practices that would make a huge difference that people would pick them up and most people don't know them. you have a reckoning. it is a form of "times up." there has been plenty of time. let's go. we have tons of history that brought us to this place. none of us created this problem. emily: rumination is one thing, sexual harassment is another. but you think about the criticism of the me too movement that it has crossed a line? >> sexual harassment is rampant and it very clearly -- from all the brave people speaking up, i think many men are in shock learning how rapid it is and we really need women and men to come together and push forward.

my sister-in-law, when she was a young engineer in the 70's used to have to have something above centerfold.h, a it was the photograph using to bench test all the different screens and it was a picture of a woman but actually, it was a picture of a couple in naked woman from playboy. when i was at google, i found out about this and i asked used as head of engineering. if we could stop using it and he said of course, we merely stopped. men and women can work together even though none of us clear that problem but it was long-standing. you wrote that ada lovelace was not even allowed to write a

proper paper, the founder of algorithms. she took a piece that she was translating, a 20 piece page and she added 55 pages, if this is of what modern computing, what would be this idea of algorithms. she is the founder of what has become computer programming and coding and we need to know about her. i hadn't even heard of her. emily: i am so glad to hear that story. you mentioned some prescriptive things that companies can do and you work that ships seven, what are the top three things that people want to make this a priority can do whether the companies are big or small. >> what is exciting is that are very good things to do. for example, leaders just talking about it, one of the greatest moves was luger schneck prioritizing this as part of the transition in the 90's and each of these employee resource groups that everybody has, the other db2 groups, the women's group, the veterans groups, all these different groups of talented employees and he connected his executive team which was not as diverse and talkinged not only just to them not once in a while, but

really it knowing them. he added it to his agenda of the weekly executive meeting. voice of many employees was coming up, he asked how do we get more employees, more customers, more suppliers from the community and how do i help you thrive at idf? it made a huge difference. that move is structured, brought conversation to work with and make it broader. emily: a year in prison for bribery. we will have the latest, next. this is bloomberg. ♪

♪ emily: some context on the shakeup of airbnb.

reported lining up investors and eyeing a jump. ipo delay.ted the and the decision to elevate johnson to ceo of above him. , delivery euro is turning a corner after the for delivery startup reported 2017 sales exceeded the company's guidance. revenue climbed 60% causing the sausage of as much as 6.5%, in frankfurt bloomberg news spoke to the company ceo earlier and asked if delivery hero has a sufficient scale globally. >> yes, absolutely, we are the leading life form in 35 markets globally. we are growing very, very fast and we will continue to do so. emily: and south korea, samsung lee is free.

a high court put him on probation for four years. he was the highest profile business figure caught in a corruption probe that brought down by jen had. we spoke with stephen engle. >> this is like ripping off a band-aid before the wind is fully healed. they thought that six months ago this cozy relationship between businessmen and politicians was finally -- they turned it a page on that, they thought that when district court in august headed -- handed down the five-year prison charges for various items including influence peddling with the now to the post president. now the court building yesterday that they are going to lower the sense and sure enough, he walked seoul detention center yesterday. they read from a paper basically saying he apologized for not showing his best side.

the past year was a valuable time for looking inward to himself but at the same time, he is going perhaps act to the company and it could be business as usual. emily: so you'd do expect him to go back to the company to an operating role? we talked about the fact that samsung has seemed to be affected. when you look at the roddick they have turned out, business has not been affected by the scandal. and he is just going to go right back in? treggs we do not know if you will go back into the same kind of role. keep in mind, they put in new division heads. they put new leadership in at the end of the third quarter and you are right, the company has been doing great. the fourth quarter was gang buster. a very good number in chips and mobile phones and screened. we do not know of his going back

to the company, but keep in mind this, headse top of have been convicted of various crimes and world given suspended sentences and went right back to their company. i think there will be a cooling-off time to see of the public reacts and going forward, the people we are speaking to say this could be bad for investors who perhaps want change within the company. they could go on a big, massive acquisition spree or do what they want at the expense of minority shareholders. that is the worst-case scenario. stephen englergs from seoul. that does it for this edition of the best of bloomberg technology, we will bring all the latest tech this has been joining us monday, 10 in -- tune in every day.

in san francisco. remember, all episodes of bloomberg technology are live streaming at bloomberg.com. this is bloomberg. hoke wrote

♪ carol: welcome to "bloomberg businessweek." i'm carol massar. julia: and i'm julia chatterly, and we're inside the magazine's headquarters in new york. carol: in this week's issue, stocks take a bumpy ride and we take a look at why. julia: and those turbulent markets welcome the new federal reserve chair, jay powell. carol: inside north korea's army of hackers. julia: all that the head of uber businessweek. -- bloomberg businessweek. ♪