carol: welcome to "bloomberg businessweek." i'm carol massar. julia: i'm julia chatterley. we are inside the magazine's headquarters in new york. carol: in this week's issue, in the year of the dog, beijing continues to feel the bites of deleveraging. julia: a hub for moving chinese cash. carol: steve bannon has another warning for the white house. julia: all that ahead on "bloomberg businessweek." ♪ carol: we are here with the editor-in-chief of "bloomberg

businessweek" joel weber. let's start with remarks in asia, that bears close watching. "business week" has been writing about the debt pile up in china. china has been doing something to get rid of that. joel: this is called the year the dog. what we will be talking about is deleveraging. the debt pile up in china is enormous. there's been a number of people. -- the further away you get from more bearish you get on china, apparently, but for years, people have been calling for something is going to give. it will be bad for the global economy. all eyes on this in general. where our story picks up on that is talking about, the number is $30 trillion. that's how much we are talking about here. it's massive. the number people pick up on is 2.5% gdp. what do you do about that? xi -- this year will

be about th deleveraging, which is what this is about. julia: still providing credit to companies that they are not concerned about, but they are also cracking down on big corporates that have been spending. joel it's not even called : corporate anymore. it's conglomerate. real estate from years ago, they're selling it off and doing it the big way, $4 billion. that's part of the story, cracking down on these conglomerates that may be overreached, bringing them back in. it's also cracking down on state provinces and state-backed companies who, that is the number one place it gets linked to. carroll: this is the conundrum, right? it starts in china and works its way down. the chinese central government since economic targets. they will wait on politicians to make sure they have those targets.

it is key to the communist power,keeping xi in keeping the economy going in terms of staying in power. joel: that's where the balancing act comes in. can they pull it off is the question. that will be something we are all going to be continuing to watch. the ramifications for the global economy, because of the size of china's economy are massive. julia: china has made it one of three priorities, poverty, pollution, debt. you have to see what using ping is attempting. carol: priority is the right word. joel: i don't want to get out of of his bad graces. [laughter] julia: chinese workers are operating in a place which is one of the -- can we say -- the largest washing machine operation, perhaps? [laughter] joel: you can, i'm not going to say that. carol: we can allege. julia: we can allege. joel: so this story is amazing. island called

saipan. this place is on u.s. soil. you get on a plane, flight to hawaii, do that again. it puts it right over in asia, and it's a little bit closer to asia than the u.s. it is guam's neighbor. the story centers on the chinese casino that opens on japan. it's a little fuzzy. julia: it's a lot fuzzy. let's be clear. it's way more financially superior than anything in vegas. joel: macau dwarfs vegas in size of per table numbers. casinos in japan dwarf that with fever tables. [laughter] carol: right. that alone and the relationship between the company and the u.s. and government officials would be super interesting. matt campbell went there. we got more from him.

matt: saipan is the capital of a pretty obscure american territory called the commonwealth of northern mariana islands. if you want to see it on a map, you've got to look for guam, then go up to the right. it's an impossibly remote part of the world, 14 time zones from washington. the quickest way to get there is to fly to tokyo, then double back. it has been since the 1970's american soil. it is a place where they use the u.s. dollar, u.s. mail, federal law extends there. this is, for all intents and purposes, part of america. carol: talk to us about 2014. matt: the biggest issue since in the mariana islands since the second world war has been finding an economic purpose. this part of the world has no industrial base, natural resources. nothing to sustain its economy.

there was a garment industry in the 1980's really, which became enormous in the 1990's and 2000s, that eventually collapsed. but that meant was the marianas were desperate for cash, they were in a serious financial crisis. but they did is what a lot of out-of-options jurisdictions have done over the years. they looked for a casino. carol economic answer, isn't it? : [laughter] matt: it's all about the money. carol: right. matt: the casino led to unusual events which are still unfolding. julia: talk to us about those events, and the company. imperial pacific international. matt: imperial pacific international was called "first natural foods." they were in the produce foods business. they've recently got into the casino business. they were controlled by a mother and son from mainland china. they have certain connections

in macau, which is of course the gambling capital of the world. they turned up on saipan in 2014 with amounts of money that places have never seen before. this is an island where the best att from they 1970's. the airport. it's tiny. 50,000 people if that. all of a sudden, you have billionaires from china spending large amounts from the island economy. carol: they have billions of dollars in terms of development. matt: they promised to spend up to $3 billion for now, in terms of development. is remarkable is as soon as gambling began, a temporary facility, not the casino, the numbers were astounding, the likes of which, when you speak to gaming experts in macau, they've never seen them before. julia: the financials here are incredible. you say it is past the

generation capacity of casinos in macau, way bigger than anything vegas has ever seen. matt: if you look at the comparative numbers here, they do it for table. that's the important metric. this is a place that's turning over, by some measures, six times more than casinos in macau per table. point, this temporary casino, which is about the size of an olive garden, was doing something like 1/3 of the volume of the wynn macau, which is one of the biggest casinos in the world. it raised some eyebrows in the industry. julia: could this be done legitimately, if you're talking about chinese billionaires coming to this remote location? what have people said to you about the possibility that this could be legitimate? matt: i spoke to a number of gaming experts and executives. all of them with a lot of experience in asia. they were all deeply, deeply

skeptical -- to say the least -- of any legitimate explanation for funds like this. carol: what is a legitimate explanation of what's going on? matt: i should say, first of imperial pacific is complying with all laws. they do not view their volumes as excessive, and there is an entirely above board gaming option. one explanation, macau is a huge center for flight. some of that capital is something that any law firm has done business, they will tell you macau is a significant venue for money laundering. one of the largest in the world. that's because there's a lot of money trying to get out of china. a lot of the money is proceeds of corruption, bribery, and it has historically tended to flow in large part through macau. whether that's going on in whether that's going on in saipan, i think, needs to be

left to others. carol: why isn't it going to saipan? matt: president xi jinping has been tough on this sort of thing. if you look at the result of macau casino operators over the past few years, they are all the way down from the boom years, which were 2012, 2013. it has gotten tougher to move large amounts of money money through macau. as a result, that money is popping up elsewhere. julia: as you've pointed out, this is u.s. territory. could you explain how this effective money washing is working in practice, and just does the fact that it is a u.s. territory aid but the problem is right now for money and macau? matt: well, when you want to get money out of china, the goal is to get it is safe. julia: yeah. matt: or there are property rights. there's no better place than the united states for property rights. that's a valuable thing potentially to be able to offer.

there's also a question of, look, banks in asia are really, really, really terrified of being sanctioned by the u.s. treasury, of ending up on a blacklist. that's not a fear that is quite so pronounced within the united states, of course. this is all speaking generally, not necessarily about saipan. carol: up next, a wall street titan makes a new bet on banking and italy. julia: an american chef cashing in in copenhagen. carol: this is "bloomberg businessweek." ♪

carol: welcome back to "bloomberg businessweek." i am carol massar. julia: i'm julia chatterley. you can find us online on businessweek.com. carol: and on our mobile up. former barclays chief bob diamond is taking on a risky bet. julia: an opportunity for small business lending in italy.

here's our reporter, elisa martinuzzi, from milan. elisa: this is with barclays, investment banking powerhouse. he has been tiptoeing another business areas. he tried africa in the not so distant past, tried to replicate not quite goit did according to plan. it's the turn of italy and southern europe. what he sees is the opportunity to fund a business that has been the backbone of italian economy, which is bank lending to small- and medium-sized companies. julia: when you think about italy, you think about the struggles of the banking sector. set the scene for us -- is this situation improving here for nonperforming loans in italy?

elisa: i think what's interesting is the timing. for the last couple of years, the focus has been on that banks have built up. as far as investment firms, people coming from outside, the equity funds committee trust have trust funds, they all been focusing on purchasing some of these bad debts, prices in the hope of being able to sell those and the assets behind them for profit. now, suddenly, as the economy starts to turn, investors are seeing the opportunity to make money by lending. it is sort of a positive story, very different to the ones that focus on bad loans we have so had so far. julia: we can imagine good companies there have been credit due to debt. talk to me about the plan. what has bob diamond invested, and what did he hope to do?

elisa: that's exactly it. taking advantage of the big banks, established players, dealing with a bad loan debt, and are unable to grow their lending book. what he's doing here is investing in a company founded by a former ceo. of one of italy's biggest banks, who was also a foreign minister , who is going to be buying a bank, and they are in a discussion now to purchase that license. they injected 600 million euros of capital into that, to try to extend credit, to become a challenger bank to mainstream vendors. julia: this is interesting. he has the political leverage here, but he was the former head of a company, and is combining his political knowledge and expertise with banking sector

expertise in the partner he is choosing here. elisa: absolutely. he's witnessed coming up from behind, run one of the bigger banks. he was able to cross that bridge and presumably have backing for this venture, and will be negotiating with regulators, in for example, in terms of the license purchase. julia: in europe, a profile of rodeo sanchez. carol: she's american chef with a taste of mexican cuisine. julia: here's our editor chris rovzar. chris: rocio sanchez is a young woman who is opening restaurants in copenhagen. maybe that's something i won't not be familiar with soon, but she's got this incredible career. she's 32 years old, she has cooked in some of the most incredible kitchens around the world.

julia: incredible, at the fat duck, in london, at noma, in denmark, the denmark connection. chris: exactly. she worked for several years at a place, widely regarded the best restaurant in the world. she took that knowledge and brought it to her own place. she's causing a sensation. julia: i mean, this is a strange path she's taken. she was a daughter of mexican immigrants, grew up in chicago. she now finds herself in copenhagen with three restaurants at 32. chris: it wasn't something she imagined as a little kid. she's very funny, no-nonsense. when she was talking to a reporter, she said "i never thought i would be a chef, i was just a fat girl. i liked cake." julia: [laughs] chris: she went to a vocational school outside of chicago, learned how to cook, she started learned pastry making. she started interning around the world at some places, then she got a call from noma, and said

it was like getting the call to tour with beyoncé. she said that's what i'm doing all right, that's when doing, and she worked there for several years. julia: one thing that stood out was the chocolate chili, obviously. chris: yes, the chili-chocolate popsicles. one of my coworkers had them, it's amazing. she did a pop up at shake shack in new york. i went down and had a breakfast taco she made with cured egg bacon and egg yolks, which sounds weird. carol: yes. chris: -- but was really delicious. they did a pop up, and was sold at 7:30, and they sold out a 9:00 a.m. julia: this is very unique here, with -- it's also it takes something getting used to, i think. the flavors seem to be going well with people.

chris: the fried pork skins is a mexican, traditional food. when she is in copenhagen, she can't get tomatillos or some of the traditional ingredients she would use if she was here. she uses gooseberries, and that adds a danish spin on the mexican dishes. julia: so what does the future hold? chris she has also become : a sensation, because she hires a lot of women chefs. julia: yeah. chris: she got a lot of attention for that. windshield with her first top queria, she hired all women chefs. she didn't want to get into a whole thing about women in kitchens, and you know, any of the controversy there. she's just trying to hire women chefs. she found women she liked and hired them. now, she's got a mix. she's got a little crazy. [laughter] chris she's hired a lot more : women in her kitchen than a lot of other european kitchens. carol: up next, steve bannon finds reason to address the #metoo movement. julia: this is "bloomberg businessweek." ♪

julia: welcome back to "bloomberg businessweek." i'm julia chatterley. carol: i'm carol massar. you can also listen to us on radio on sirius xm channel 119, and on and a.m. 1130 in new york, 106.1 in boston, 91 fm and washington, d.c., and a.m. 960 on the bay area. julia: and in london on dmu x3, and on bloomberg on the radio plus. ex-house adviser steve bannon sees a problem on the horizon for president trump. carol: we are not talking about russia, we are talking about the #metoo movement. >> it's the night of january 7. he's at the back room of the townhouse, where he lives near capitol hill. we are only a few days after the publication of michael wolff's book, in which steve bannon rips

apart the white house, and the president gets publicly excommunicated, not just by the white house, but eventually loses his ties to breitbart. he is sitting in the -- watches the this, golden globes, he watches the ceremony of all the women's power movement, and the backlash, an embodiment of the #metoo movement. he has this oh my gosh movement. this is the next political backlash that is going to, you know, sweep washington and away the institutions. of course, he's the guy who harnessed the last one, the populist kind of nationalist movement. he's telling josh, who, you know, as they are watching this, this is a seminal moment. the irony of course is this is

coming just as bannon has been exiled out of the white house. this could do potential damage for the republicans in 2018. julia: he declared it's a cromwell moment, we're talking oliver cromwell. puritan, 17th century u.k. what did he mean by that, and where does he see the danger? matthew: he sees this as an anti-patriarchy movement thousands of years in the making. the irony, perhaps the power of this, he sees donald trump the as the embodiment that so much of the #metoo movement is aimed against, this anti-male establishment.

as he tells josh, donald trump the perfect villain. he really sees this in broad, historical sweep. he's never short for a way to look at a historical moment and find some random theme. in this case, the puritanical movement of cromwell. these women in black dresses, all my god, this is anti-patriarchy, anti-male. it's big and it's, you know, hundreds of years in the making , and there's no stopping it. julia: for a lot of people, that night, natalie portman it was quite jarring. she made it more than the me too -- she made it anti-male. then, you tie that to rob porter, and what we've seen over the last few weeks. you feel like that's a fuel on the fire moment for the administration. matthew: that's right. after the golden globes, you have the rob porter scandal, allegations of domestic violence with rob porter. the white house handled that, it was bad on every front. they seem to have known for quite a while this was an issue in his past.

they held up his security clearance. the fbi had flagged it, too. a number of people, including chief of staff john kelly. the initial reaction was these are allegations that are not founded in reality. this is exactly what bannon is talking about, which is this white house in particular seems ill-equipped to deal with this movement, in particular. and look, it is kind of a chicken and egg thing about which came first, whether the women's march that happened the week after the inauguration last year would happen without donald trump, we are not sure. but we are in a moment here that has momentum, probably because poses some serious problems for republicans in the midterm. a record number of women are running as candidates for congress, the vast majority of

them are running as democrats. carol: next, the #metoo movement moves to europe's sports leagues. julia: and angela merkel pays a high price to stay in power. carol: this is "bloomberg businessweek." ♪ retail.

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>> welcome back to "bloomberg businessweek." i'm julia chatterley. >> and i'm carol massar. still ahead, angela merkel gets downsized. cryuropean sports clubs foul when it comes to female eye candy. >> and carmakers try to win drivers.ale >> all that still ahead on "bloomberg businessweek." ♪[music] >> so much more to read in the magazine. let's hone in on the business see the because we do #me too in focus once again. and this time, it's hitting the

european sports sector. tell us what's going on there. >> so much conversation in the u.s. about this, right? so now we're seeing it pick up on the other side of the atlantic. most interesting things about this is the shift in sports. right? and that's where the story hits, pause you can think -- because think about all the gorgeous scantily clad women on podium at the tour de france. something like darts, which has an audience. all of them have changed their thisand said, you know, projects a different version of the world than -- and sports -- want to one that we project. within the last month, we're just seeing major change. >> have they come under pressure as a result of declining viewership, a sort of backlash, they this a choice that made? >> so it was on the heels of stuff that happened in london. >> right.

that momenthey used to actually look at themselves, look in the mirror and say, you what? maybe we -- nothing has happened. there's been no allegations of harassment, abuse, anything like that. they're just merely saying projection. that reallyvent brought the attention to those folks in europe was this london event, all male charity event. women who were working at that event. allegations of sexual harassment. and inappropriate conduct. and that really kind of changed conversation perhaps. >> in europe especially, right. a u.s.primarily been conversation. i think this become a wildfire moment. bad actors, right? and what the sports community look, there hasn't been any allegations yet, but the optics are bad and we need narrative, sooner rather than later. so they've started to do that. women, of scantily clad you're seeing more elegantly dressed men and women doing some

presenting. >> is that going to work? i'm just trying to think about formula one. >> not everyone has gone along, interestingly enough. one of the people who says, of our sport,part like boxing. >> the women holding the signs. >> exactly. so in boxing at least, we might see it. in europe, for a little bit longer. >> what's interesting is that there were women models who were like, wait a minute, this has been the best job. i made great money doing this. didn't have a problem with it. nuance to it too. so even though it's a great job, leagues can say, look, we need to change our optics here. that's literally what's happening. >> speaking of women defending their positions, there is the european kohr story that looks -- cover story that looks at angela merkel. go back a yearing a. the german chancellor was in a pretty strong position, looked at as a beacon of moving everything forward. >> no doubt. powerful woman in the

world. has been for a while, probably still is. what's happened in germany is power has been somewhat diminished by a coalition she had to form. it's often called the grand coalition. this one has a chance to be not so grand, because it diminishes her power. and if that power is diminished within germany, it potentially diminished on a world scale. >> i mean, she's been in this coalition a number of times before. a real game changer. >> it's a different mix of coalition. and theinance minister foreign minister. unprecedented. david. up the story with >> there's an agreement for a coalition agreement. but that agreement still needs approved by the 460,000 members of the social democratic party. that's really where the rug comes in. because in order to get, as a with the social democrats, she had to give up a lot. >> well, you know, and your

how she'ss about been, in the past, a really good negotiator. she doesn't blink. blinked.time she what's different? and what does she give up? >> yes. democrats,e social they walked into the room, into the negotiations, over the last couple of weeks, and culminating about a week ago. they came in and they said, all right, we want three ministries. and they said, we want finance, foreign, we want labor. at a minimum. and normally in german politics, happens is they say, okay, we want one thing. the christian democrats say we want another. it sort of goes round robin. no. said, either you take it or leave it. she basically had to take it, because -- although neither could really afford to walk out of the room without a coalition agreement, she would far worse shape had she done so. >> why? >> because she has been chancellor for so long. of's had this reputation

being, you know, the leader of the free world and all of that, which she kind of hates. but it's sort of this moniker that stuck. she just has so much more to lose, because she's the chancellor effectively. she would have been falling from a higher place. the social democrats, they sort of had nothing to lose. they've been junior partners in the past four for years. they got kind of nothing out of it. of -- they were always sort of perceived as elementsd of secondary in the merkel government. could have walked away. there was a lot of pressure within their party to actually go in to opposition and not be in a coalition government with her again. >> i mean, david, they didn't get nothing out of going into coalitions with angela merkel. she got pummeled in the last election. it was a shocking showing. and also, angela merkel struggled too. and that was a result of the rise of the asd party. french afraid to go to

elections, in case they increased their support further? >> yeah. so neither side could afford to go into new elections because of the rise of this right wing fory called the alternative germany, kind of an anti-immigrant populist group. were fearful of the, as you said, the rise of this party. >> so where is she today? your story does talk, if you go year ago, she was in a very different position. how weakened is she today? she'sl, i would say probably never been more vulnerable, you know. she's been a very, very strong chancellor for this country. people have liked her. she's very, very popular. call her mother. and now she's kind of -- she's as vulnerable, you know. there's some conservative do ofbers of her party, kind taking potshots at her, saying, oh, this coalition will never

years.r four she doesn't have that kind of -- that stature on the world stage ago.she did a year that kind of ceded some of to the fresh face of emmanuel macron in paris. look quite as kind of all-powerful in this country and really in europe and the she did. >> up next, working for a start-up turns out to be extra hard in india. >> and singularity university looks for a second chance. >> this is "bloomberg businessweek." ♪

>> welcome back to "bloomberg businessweek." i'm julia chatterley. >> and i'm carol massar. online atso find us businessweek.com. >> and on our mobile app. >> in the economic section, why some parents in india are noturaging their children to pursue careers in technology. >> it's on interesting story.

more from editor christinea. new tech1,000 companies born last year, according to a trade group that ands track of this stuff, increasing valuations, and we're having now international investors make big bets on softn companies, including bank last year. little unicorns being born. but it's not all working out for people who are in the rank and file. >> why? >> because stock option is the way that silicon valley companies, you have-- this is a tool they used, sort of pioneered in a way, to attract and retain, and thee best brightest. they're not working out in india so well, because either the badly designed or because founders frankly are cheating their employees out of their rightful payouts. valley, youicon hire great talent. you offer them stock options. you hope, at some point, you

either ipo or ultimately you get somebody. by you make hay, because your stock significantly more. did it work in silicon valley, and why isn't it working in india? >> it didn't work. ha ha! think of, like, you know -- i there's an in-house masseuse at google who is now a companyire, when the went public. ha ha! >> exactly. >> yeah. worked. it helps create the next generation of investors. the ecosystemps robust. and the talent there. india, besidesin the bad process, is that there as many ipo's or big buyouts. have seen, since 2013, which is the first high-profile case, when it popped up, sort of kind of a

trickle of lawsuits, complaints. we talked to law firms, saying ofy're getting quite a lot calls from disgruntled employees. >> tell me about that. are they promised options? promised that if the company sells or goes public, that they're going to get something? >> yes. whend all of a sudden, that happens, they just don't? >> that's right. they were brought on. look, weompany said, have this plan. and, you know, so that was, you drafted and codified. but some of them didn't read the fine print. which as an instance in and then,s acquired you know, the founders and the original investors got a payout. whathen the employer said, about us? then when they had lawyers look through the fine -- you know, go a fine-toothed comb through the plan, it said that stock not -- there was no accelerated vesting in a takeover. >> in the technology section, singularity university was once

at as a blueprint for education of the future. but first, it has to reconcile a past. dark here's reporter sarah mcbride. >> singularity university was founded not as a university but more of a place where people could go, think about big ideas that could change society. ideas, like solving hunger and poverty and government and just think about how to make that happen. when it was founded, big thinkero is a in silicon valley, and wrote a this concept, singularity, which basically means that machines are getting and smarter and overtaking human intelligence. we may merge with machines. so he's the cofounder, the man who started the -- peter is the

cofounder. they attracted all these big valleys in silicon around them. and it was a pretty -- and is, exciting place come anddents would spend the summer at singularity university, thinking about these thesems, and hearing from big thinkers. >> you've given us the good news there. let's talk about some of the downsides. talk to me about astronaut dan withe and his involvement the program. >> right. well, the cofounder is really interested in space. he also runs international -- or space start international university. and he knows a lot of astronauts. to attractble astronauts to come teach at singularity university, this guy, dan barrie, influential. and students often say that the talk he gave at the beginning of

summer program is the best of the program. people liked him and looked up to him and thought of him as a mentor. one year, he was in france and looked up a former student. this was in 2013. and he looked up a student who couplen on the program a of years earlier. and there was an incident in paris where he ended up giving achingassage, for her back, and she says he touched her inappropriately. she fled and filed reports with authorities inr tonce, reported the incident singularity university, and just thought that the outcome wasn't wanted toould have see. he left the summer program, but affiliated with singularity university and still their executive

programs, which are a little bit different. twoobviously there are sides to every story. so i haven't heard back from the the time of this taping, but perhaps he disagrees with her account of the story. >> of course. and there were allegations made case.ual assault in this then talk about some of the irregularities, because this for me is also quite fascinating. we had a financial controller arrested, isaac, for misuse of company's funds. talk about that. >> right. so when it was starting, it was chaotic.bit she was the controller at another organization here in the area, about the singularity, this concept of men merging with machines. was also, as singularity getting off the ground, their controller too. so she was able to do things

cashier's checks that she cashed and was working with of this other organization. took singularity university's credit card and racked up all sorts of personal charges. director of this other motorcycleought a fraudulently. so finally, other people going on, andwas both of them were arrested and ultimately pleaded guilty to felony charges. >> up next, the global battle artificial intelligence experts. >> and luxury car makers finally put females in the driver's seat. >> this is "bloomberg businessweek." ♪

>> welcome back to "bloomberg businessweek." i'm carol massar. >> and i'm julia chatterley.

online onsten to us also onel 119 and 99.1fm innew york, washington, d.c. and in the bay area. dab mux3 london, on the bloombergn plus radio app. in the technology section, valley is looking for a few expert. here is jeff. an a.i. expert? >> in this case, it's someone companies are generally looking for to help digitallal offense or to upgrade recognition software, of thing. but now there's a pretty wide range of industries interested in a.i. >> what qualifications do i need? that's the critical point, acause, you know, i've got masters degree. could i qualify? >> the sort of baseline

a highments tend to be level of math and statistical understanding. then you need a sort of grounding in, the key programming languages that underlie most contemporary systems. >> what's interesting is you want aout if you seven-figure salary, you talk about the few categories you can get it. can also get it if you're an a.i. expert. is it just a supply-demand? there's not that many out there? >> yeah. in fact, it's hard for people to figure out, probably because no really tracking it, just how many a.i. expert there are. a.i.,any called element which as you might imagine does this sort of automation on behalf of other companies in montreal, has released a report suggesting that there were, at most, 22,000 expert around the world who were really capable of of a.i. the kind systems that these tech companies and, you know, banks and drug makers and all kinds of looking for,es are whereas, you know, there are 10,000 open positions for that

the u.s. alone, supposedly, according to element, there are only about 3,000 people looking for that work.f most of them have the jobs already. >> what else do you need to be expert, to bea.i. a leading figure in this, as opposed to just someone in mathematics, statistics knowledge? a differentt's question too. while even sort of entry level, minted ph.d.'s in data science and machine learning can ofen command salaries $300,000 and up from google or facebook -- salary.ing wow. >> and often committing for a multiyear deal. more common typically for companies to require that, you of people whos can really dominant or lead a particular subfield, you know, tend to be much fewer. element admits that, you know, in its methodology, it was really searching for, just based linkedin profiles, for

ph.d.'s earned since 2015 and people with certain skills listings, the kinds of language we talked about a minute ago. >> so they could have missed people, or actually they could have just got the real cream of the crop that we're talking about here? >> right. just didn't have a linkedin profile, you wouldn't have been caught up in this. >> if you're at the upper tier, in terms of a.i., i'm sure post-up onthrowing a linkedin. buting against linkedin you're probably well-known within the industry and probably really sought after. ofwell, of the three sort godfathers of contemporary a.i., is googleebook, one and the third works for element a.i. in fact. havingey say they're trouble recruiting, because there's a real shortage of talent. section, pursuit luxury carmakers are finally realizing the sheer scale of female buying power. time!is about here is editor chris rouzer. >> we thought it would be a howt time to check in on

super luxury car companies are addressing women and are growingng this audience, especially in saudi arabia, a totally new audience. audience, let's be clear. >> yes. a popular car there is a rolls royce phantom with their longer wheelbase. women who are being driven are noty men, who related to them, want to be at a distance from those men. now women are going to be in the driver's seat. going to be buying more fun cars, you know, maybe rolls is morece, which sporty. >> cheaper. >> cheaper. >> kind of! >> yeah. over $300,000. no one expects these women to scrimp. the announcement happened last year that they were going to allow women to drive, overnight almost people marketing cars to women, because people know how powerful marketplace.that notnd ferrari, lamborghini, just rolls royce. they've all been thinking about

this. >> yes. created like a panel of women to sort of figure out what women want, because been super great about figuring that out in the past. mcclaren started making sort of a sports series, for a broader audience. is going to make an s.u.v. really based on the female audience. that's what women want. you see these companies that would never even consider making an s.u.v. ferrari is going to make sort call it a're going to ferrari utility vehicle, because they don't want to say s.u.v. because women are this missing segment for them, tiers of thewer market -- >> they make billions! audi, mercedes, b.m.w. you can get the marketing pretty wrong. audi had a very embarrassing mishap in china. >> yes. have gotten a lot better over the past few decades, but they're not perfect. ad last year in china where there was a bride and groom, at the altar, and the

mother-in-law, the future mother-in-law, came up, started pinching and poking at the bride like you would test a horse or a car. and audi had to pooj -- down.ize and take the ad we were like, whoa, i can't believe -- >> yes. red balloon.like a >> "bloomberg businessweek" is available on newsstands now. online at businessweek.com and on our app.e >> here's our favorite story. >> he takes us to a part of the pacific. u.s. commonwealth. a chinese company there has this tremendous gambling company. we're seeing an unbelievable gambling volume. it's bigger than anything produced in vegas too. is, we think it's money laundering. is he says, does how do they do it? so he looks at the relationships going on. >> where are the authorities in this case. then he dives into the family relationships in the region. >> unbelievable.

asked.questions to be >> intricate story. >> more bloomberg television, coming up next.

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