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tv   Best of Bloomberg Technology  Bloomberg  March 11, 2018 6:00am-7:00am EDT

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♪ ♪ emily: i'm emily chang and this is the best of bloomberg technology. where we bring you all of our top interviews from this week in tech. coming up, tech has lost an ally after gary don hays left the white house. what the loss of the president's past top economic advisor means for the looming trade with china and silicon valley.
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plus, the amazon agenda, our deep dive into the ever expanding footprint of america's e-commerce king. not just the company but industries in the crosshairs. our extended interview with google cloud ceo diane greene, just one of the top female leaders in text that we bring you, i had. first to our lead with gary from -- cohn leaving the white house. president trump's desired trade tariffs are sending chills throughout the trade community. this includes consumer electronics. amazon and apple can still be impacted, especially considering the products they manufacture in china. apple may have the most to lose with both the ipads and iphones being assembled there. we discussed what this could mean for the industry at large technology'sg
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editor-at-large tom giles and and mark abelson, who covers money and power for bloomberg. >> wall street is not happy. on the other hand, we can't go too far, the reality is no one knows what is going on with this white house. i think if you don't see the market losing 10% -- people are upset. gary was the president of goldman sachs, 11 loved being the number two guy at the white house. that came after trump mocked goldman sachs on the campaign trail. people are relieved that they had this guy who they saw as a friend, someone understood them, someone who could cut corporate taxes and now gary cohn is gone and that destabilizes. i talked to wall street executives who said this freaks me out, someone compared it to needing a security blanket. emily: look at apple as an example, it is still unclear if apple would be marked as an importer, if this would hit the companies that manufacture apple products. what does it really mean as far as we know for apple products?
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>> apple has to be caught in the middle of this somehow. given the fact that this is the was largest most valuable player. they are importing products from china and a lot of their supply chain is in china. to the extent that china is effected, apple is not going to get off scot-free here. the question is in a worst-case scenario, we talk to a few analysts here. it would be affected but in a company that generates so many tens of billions of dollars a year, we have heard people talk about this as something more of a rounding error. we are talking about tens of millions of dollars. this is not a big factor, it really all depends on how much of a levy is going to be imposed on steel, aluminum, finished goods. trade was are not good for apple forrade wars are not good
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likeultinational companies amazon.d amazon and some of these other tech companies, some of these are less effective because they are so serviced based. microsoft, the software provider, facebook, social media delivered over the internet, amazon, the lion's share of what it does is not consumer electronics. although the echo is getting bigger and bigger. emily: we know president trump took aim at apple on the campaign shall, tim cook met with president trump at the white house a couple of times. who knows where that relationship stands. is there a silver lining here? >> there may be for wall street considering that steven mnuchin is the treasury secretary. that guy worked for goldman sachs like gary cohn. to be honest, when i hear tom talk about apple and am reminded of trump mocked apple, considering that directionally, no one knows what is happening, if donald trump decides that he needs someone to beat up on, i
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feel like i have been hearing things where it might not be wall street, what if it is big tech? i thought the guy who made about clinton cash, his next documentary which will debut at can't but not during the real film festival, i think it is about the big tech companies. i can smell in the air the sense that trump -- maybe the new wall street, the new punching bag could be amazon and apple. emily: marty was on the show yesterday during the breaking news and he talked about how he thinks the relationship between silicon valley has taken a bit of a pause but let us because we don't know, what is the general vibe of a response from the tech community so far about these tariffs in particular? >> what you have to think about
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with silicon valley is that we are going to look at foreign nations as the enemy. that is going to have a big impact. there are lots of different ways. i think the biggest way i want to talk about is when you look at the big deal. the biggest deal in tech, which we broke here at bloomberg, broadcom trying to buy walk-on. this is a transaction that is hitting a button saw. they are looking at this and what they are saying is that to the extent that this transaction would undermine our competitiveness as a country, countries like china, they don't want to see it happen, treasury is raising objective is. we wrote about a letter that they published that says we don't want to see this transaction go through. on the one hand, that sounds from the two tech companies. on the other hand, if you are broadcom, you don't want to see a big deal like this get blocked.
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how much are the big tech companies going to get caught in this larger narrative of u.s. competitiveness and competitiveness with countries like china? >> they are coming with products from china. >> it will not get easier. if you're trying to sell phones, tablets, laptops, it won't get any easier for you to get this into the u.s. into a regime like this. emily: max, you talked to a lot of people about what gary cohn might do next, we have some interesting answers. this is what he will do next and also who will fill his role. >> the truth of us only gary cohn is the gary cohn spent 25 years as a traitor. they were straight to the white house. the truth of the matter is, the way the world is going, it is not that insane to think he could go back to goldman sachs. powelllly because dina
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announced she's going to the management committee, that would be a bad look for the revolving door that people could be goldman sachs, goa crew political power and then turn into a goldman sachs job. he could have a main street job. someone said he could go to spacex but it looks like they have wonderful management, including one of the biggest women in tech. so i says gary cohn should spend six months on the beach in the bahamas. i think of all the options, though it feels the most realistic. i love that idea for him. what about who would fill his job and how important it is that to donald trump?
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>> donald trump, if you are pressed and someone was twisting ramin had to say what is known from stand for? he was a populism, this stephen bannon comes up idea that donald trump are present in every person. it is so crazy that he is it going at that has surrounded himself with billionaires. this is the richest cabinet in the history of america. on the one hand, i feel like it would be crazy to guess that he would pick anybody but another tycoon. someone like wilbur ross or steven mnuchin. i can almost imagine him moving someone who is already there to shuffling around. people said it is hard to imagine people leaving from wall street to go to the white house considering how chaotic things are there. it doesn't seem like a place you go and stay for a while. bloomberg's max abelson and tom giles. president trump may have an ally in elon musk when it comes to china's trade protection. elon musk was in a bitter fight with chinese authorities to build a factory in shanghai tweeted a response to the
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president. "do you think- that the u.s. and china should have equal fair rules for cars. china charges 25% import, america is 2.5%." he says it is like competing in the olympics wearing ledges. coming up, important voices in technology from females. also, diane greene later this hour. if you like bloomberg news, check us out later, this is bloomberg. ♪
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♪ anothernother day, legal battle for uber. they're suing them for violating the notification law. uber fell to disclose the heck that effexor over 13,000 over drivers in pennsylvania. uber had known for over a year that this bridge potentially impacted 57 million passengers worldwide.
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under the law, the team can see civil penalties as high as $13.5 million from over. this thursday was international women's day and we brought you a slew of top female leaders and technology from diane greene to amazon's stephanie landry and uber's original general manager of the u.s. and canada. before joyce joined uber, she worked in both the private and public sector and as senior policy advisor at the u.s. treasury. started out on uber's business and its changing
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culture. >> i've been extraordinarily lucky and it had a remarkable experience at over. since the day i came on board, i have been working for an incredible woman who is leading our east coast organization at the time. this was 50-50 men and women. they were really supportive of people of different backgrounds and the different styles. it was a place where i really felt like i could thrive and i could encourage those around me to thrive. to be honest, it plays where i knew i could come into work every day and make decisions with integrity and fight for what i knew what was right. i think the disturbing thing we have all realized over the course of the past year was not everyone in our organization can say the same thing. it has been invigorating anyway to say that this is our mission going forward and i have been deeply involved in ensuring that our culture and our business practices going forward i will all be proud of. we have teams that show that we can grow and scale in a way that we feel proud of. now it is up to us to ensure that every single team across the country can say the same thing.
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i am really excited about the progress we saw today. em himily: you were hired by travis kalanick, there has been a big changeover, we are curious how your work and your management has changed and if you are seeing an actual change in the culture. >> there has been a distinct change. in the mandate from the top, and the direction we are going, even strategically. we need to articulate and hold our teams accountable to doing the right thing every time. even if it is something that is going to cost us a bit more, especially in the short term. >> where is the balance of power between growth versus profitability? where's the pendulum and what you have been told. >> we need both growth and profitability, and company does, especially if it is optimizing. we need to ensure that we are continuing to invest in long-term growth and ensuring that we are doing so in a sustainable way. i think the challenge of any business leader would be to all those two things at the same time. this could help us intranet we would navigate through the
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trade-offs and we are consistently putting the long-term interest of the company first and ensuring we are setting ourselves up for long-term sustainable effects. -- success. the landscape has also changed and there are some that show that lived again writers as uber is going through this big cultural transition, what do you think you got -- you have on the competition? are you at all concerned about the threat of lyft? look, riders and drivers
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always have a choice about not.er to use uber or they can use another ridesharing platform where they can drive their own car or choose to walk or some other alternative. at the end of the day, what we find really exciting is the opportunity for people to be able to leave their keys at home or not by that second car. nevermind the first car to begin with and consider using options that are actually more sustainable for this at-large. when we do that, we will need less land allocated to parking and we will have less congestion on our streets. we will have safer roads because we don't have people getting behind the wheel drunk. we will have great opportunities for drivers who needed. i think that as we think about some of the lessons we learned over the past 12 months to make sure we are consistently delivering on the promise to riders and drivers so that we have a better option than anything else out there.
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uber's meghans joyce. we caught up with stephanie landry, she launched and runs the companies primary espresso reservists and recently became the business leader for amazon fresh and amazon restaurant. we got started and how the company can continue to retain his top talent. >> we have over 4000 open jobs in our seattle offices today. we are constantly looking at our businesses and reevaluating and the future we are applying for right amount of resources to different areas. we have so many jobs open, we're looking for people all over the city and worldwide. i think the opportunities are tremendous and i've certainly had an incredible career over the past 14 years. i don't think there is any sort of issue with the amount of jobs that we have. emily: stephanie, you now run amazon prime now and amazon fresh, talk to us about how big
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prime is and how many people are using it. >> the connection of all the businesses i run is that we deliver food, often, fresh food and in some cases as little as an hour. the find a business itself is currently available in over 60 cities worldwide, nine countries and in the u.s. we are at over 30 cities. we started that business in 2018. incredibly fast. emily: you were involved in the kickoff of amazon fresh grocery delivery and now amazon is all in, amazon has bought whole foods. the company still lacks walmart in grocery delivery. there's a lot of competition. what is a path to greater domination and groceries? >> during my 14 year career at amazon, what we're focused on is a great customer experience, a really great customer experience for our prime members. i think our collaboration with opioids gives us an opportunity to solve a really important problem. i am a mom taking a little kid through the grocery store, it is a big chore, especially if it is for things we know exactly what you want and what you need. i think you get it delivered to
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home is such an incredible convenience. i think our collaborations reat groceries is an incredible opportunity that are prime customers will love. just today, we lost a grocery delivery in as little as an hour in san francisco and atlanta. that is 24 other cities that last weeks ago. i am really excited about that opportunity for customers. >> that was stephanie landry. coming up, asia is encouraging its biggest tech firm to bring their listings home, we will head there next. and the back of amazon, the companies do move into the world of financing later this hour. this is bloomberg. ♪
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♪ emily: the chinese government is being called upon to introduce a i.d. systems that women travel documents with a mobile phone as a plaintiff's desk boost
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regional trde between hong kong and the mainland. this is china's annual national people's i was an expand his legislative proposal. >> border control, and taxation regimes are the two big obstacles or the bigger the area project also the free movement of high school workers is yet to add them. i see just of the idea of an id system linking hong kong and mainland china to other people to cross the border and make electronic payments more easily. fielded aalso question about the cryptocurrency market, take a listen. >> blockchain is a really innovative technology. we must be careful using it. technology is good but usage is important. i sealed for digital currencies need a lot of risk.
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i'm not saying the technology isn't mature but if everyone can create an use visual currencies, there can be huge fish is for regulators. even the cryptocurrencies are very popular, we haven't participated. meanwhile, some of the biggest tech firms in china are being lowered by regulators. this coincides with an effort by neighboring hong kong to work its regulations to our companies to its exchange. this is the managing editor for bloomberg, he joined us live from tokyo. >> the backdrop is interesting, you have the annual national people's congress, this gathering of delegates, thousands of delegates from all over the country and in the past you would see business leaders, and express their support for the administration but they were typically traditional businesses stateal estate and enterprises.
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this year we are really seeing them come out of these technology companies that have become some of the most valuable in the world. so leaders like robin late at baidu is talking about listing his shares in mainland china along with some of the other companies including soquel and that is and they're talking about listing shares in mainland china in addition to listings overseas. there is a burnishing of the existing parties reputation if they're able to lure the star's home. it also helps the tech companies because of valuations tend to be quite high. emily: talk to us about that. the pros and cons of this structure. so the chinese stock market doesn't have the best reputation, they have some difficult regulations that these companies have to comply with, they are not for volatility and for sometimes spontaneous government intervention. as peter mentioned, this would be a good move on the chinese governments part to boost direct reputation and attract some of these. this is great for a lot of domestic retails and investors. they haven't been in some of the greatest wealth creation in
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china's history. they give them a chance of participate and really boost evaluations of these companies and the retail investors are certainly very excited to get in on this if it becomes possible. >> some people won't be pleased about this, and why that? peter: there is competition for these listings, certainly. right now, hong kong is competing to draw more attention, historically they have not allowed to do a clash shares that you yet many tech companies, including some foreign companies listed in the u.s. they are competing aggressively for this business but you can't have dual listings like in hong kong and mainland china. emily: now selina, there are ip -- big ipo's in the pipeline. others.
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how do we expect those companies in particular to proceed? >> these changing regulations both in hong kong and mainland china will play a big role in what they ultimately decide. we reported they are considering a dual listing both in hong kong as well as in china. ishave heard tencent considering a dual listing. tencent was are elicited hong kong, the stock exchange will do everything they can to attract these companies and become the global leaders here in hong kong. they have really fallen far behind in new york in terms of attracting these companies and they really want to get ahead of the game. do you have any thoughts about how the listings could play out this year? >> it is interesting, the big prize will be xiaomi. we have reported that they are leaning toward hong kong as their primary listing but if they do list in mainland china, they would tap into that consumer demand and give customers an opportunity to buy
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into the shares and it could help their valuation quite a bit. it would be interesting to see how that one plays out in particular. thanks to bloomberg's peter and selena. i have, we will send down with diane greene. how they are doubling down on innovation. all episodes of bloomberg technology are now live streaming on twitter. check us out at 5:00 p.m. in new york and 2:00 p.m. in san francisco, this is bloomberg. ♪
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♪ >> welcome back to the best of bloomberg technology. back to our coverage of international women's day. diane greene has been ceo of google cloud since 2015. it is a big job. advisorr, technical
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eric schmidt said that invested $30 billion on cloud services. we sat down with her and got started by asking how she made the jump from this to her current role and google. >> i was in the background, helping. as i got more involved to learn what was involved in terms of him and the phenomenal him infrastructure and secondly, just to realize what a big deal is the crowd is, i knew it was a big deal but it is profoundly you think about this as a place where everybody in the world can share and that the whole world is going digital and being connected to all of these mobile devices and centers and you can make is available to anybody to use and mark ties technology through it. him anyhow, it was really exciting to meet more into it i got and so, google have been talking to me about doing it and i had been helping them find someone and eventually i said ok, i will do it. >> this is how the contested territory, amazon is in the lead and then microsoft. which one is are you more afraid of?
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>> i can say i'm afraid of can't say i'm afraid of either of them. i do pay attention to them. but last year, they did about 45 billion in business and you can argue it is about a joint dollar business. it is quite a bit of had room for everybody there. microsoft and amazon have different strengths, so does google. i feel it we are clearly highly differentiated and data analytics. we are very differentiated in our security if you want to keep your information secure from our productivity suite on down to the basic network, i think we are the people who discovered meltdown., spectre,
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so we have these differentiations that are where all companies are going. i can't say i am afraid, i do see a lot of work cut out for us. we are working extremely hard. emily: you said last year you think google has a good shot at being number one in five years. do you believe that, still? >> i think it is possible. those words were quoted a little bit out of context but we certainly are executing extraordinarily well. at the end of january, google's earnings calls it said we passed a billion dollars per quarter in 2017 and that google club platform is the fastest-growing according to publicly available numbers which puts us in the triple digit growth. just tremendous momentum, over 4 million paying customers. it is definitely a possibility. it is more about benchmarking
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our own growth against ourselves and we're pretty happy with it. >> speaking of the metrics, we always want more. when will google actually give more detail on how the cloud business is doing? >> we will in good time. it is so interesting to me that in january we finally gained some metrics and now it is the most frequently asked question. give realou going to metrics? they were pretty real but they were the kind of public company reporting metrics you are looking for. questioning blockchain will change cloud computing?
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blockchain gives you this distributed mechanism to verify things which is powerful for every thing. the cloud is powerful force security. it will be powerful for health. because the cloud is where every company is going to operate and all the data is going to be, it is inevitable that blockchain is going to play a gigantic role in cloud and in our fully distributed world of which clad place a very meaningful role because that is where all the data gets shared. ceoy: that was google cloud diane green. we also spoke with the chief diversity officer at theial impact kapor center. best known for
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suing her venture capital firm for gender discrimination. she lost that suit in court but someone argue she had one in the court of public opinion. we talked about the lack of diversity that persists in technology and why. >> it is more of this backlash against change. it is trying to fix the problems that have taken place for the past several decades in tech where it was grading the systems that favor them. it requires taken down the systems and really trying to catch up and also to transform how you do things. that is uncomfortable for people who succeeded in the system. emily: you suggested that people need to be fired in order for real change to happen. who should be fired? >> i think people who believe -- believe that women and people of color and people were older and people who are immigrants are equal employees who are able to do the same work
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and have these innate biases against them should be fired. if you can't treat your coworker fairly, you really have no place in the workplace. decide whodo we these people are? is this a matter of not having gotten results or if you have made it onto her comment, how do we identify the people who aren't doing enough? >> i don't know that it is not doing enough, it is people for saying terrible things about their coworkers and sharing private information about their coworkers. this way that coworkers get attacked by outsiders. there is no place where people enabling attacks on your coworkers in the workplace. we want people who believe in culture. if they don't believe in your culture and show that, then they don't belong. they are not promoting your workplace ideals. there not on the same page and they're making it harder for others to do their job.
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harassment and trolling would be such a problem whether it is reddit or facebook or twitter? >> it is unfortunate that these were started by white men and run by white men for so long. nobody ever experienced this the
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same way that people who were of color or who were women were not binary experience it. if you don't experience it, it is hard for you to address it. there wasn't anybody calling attention to these problems. you see it on other platforms like next door and airbnb who have fixed problems that came from homogeneous workforces and they're trying to bring in changes to make sure that the platforms are more open and more inclusive and don't reflect the biases that their early employees didn't experience.
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♪ >> amazon is reportedly offering
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a discount to the millions of medicaid recipients in the united states. the move is another step toward lower income shoppers and keeping pressure on walmart. under the offer, customers can get amazon prime $45.95 a month, about half the usual cost. now is a good time to take stock of the state of amazon from its ballooning e-commerce and cloud businesses to newer forays into groceries and hardware. amazon also announced a health care venture with j.p. morgan chase and berkshire hathaway. in february, the company acquired ring for roughly a billion dollars and in march, amazon is now looking into providing its companies with checking accounts and has announced it is expanding both was delivered to amazon prime customers in more u.s. cities. how do these announcements fit into the complex operations of amazon? we spoke with brad stone. ♪
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>> it is a company and one of its product is its culture and the way that it decentralizes and empowers teams to go innovate and even requires them to innovate. you have tens of thousands of people working for amazon around the world looking for growth and expansion opportunities. new businessery they have started has succeeded though, right? >> absolutely, they spent 10 years trying to make grocery stores work. that is the amazon fresh delivery service. it didn't work as well as they hoped. it resulted in the acquisition of whole foods. emily: talk about the expanding whole food delivery business.
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>> there is a much they can do inside whole foods, they can bring amazon pay into the checkout. they want to do a loyalty club for prime members, they can redesign the grocery store and make it friendlier to customers. the easy stuff is delivering from those supermarkets and from whole foods. that is what we are starting to see, my colleagues wrote a story about how is the card had their relationship, their delivery relationship with pulpwood which is getting shunned to the backside of hallways as the amazon workers deliver groceries to people's homes. emily: they predicted earlier that amazon might buy target next, take a listen to what he had to say in january. >> the future of retail is going to be a combination. i would bet that investors would view this as amazon -- the takeaway would be that amazon is taking over the world and that is a good thing. emily: is amazon taking over the world a good thing?
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>> maybe for amazon investors. the company's performance has been stellar. the stock prices have multiplied by a factor of four. obviously, the bigger it gets, the more industries it enters, the more questions about his market power arise. we could say great for customers that amazon brings its long-term orientation willingness to lose money to pass on the benefits over customers in the form of lower prices, great for customers but destabilizing a lot of industries and raising questions about market consolidation. emily: there hasn't been all great news for amazon for a price at amazon studio. they are struggled get back on their feet. a high-profile departure, greg living for airbnb. what you make of that one? was anell greg old-timer, he started in the
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finance department, there was a product that people don't remember, for the first time, people wanted to wait a few extra days to get their shipping for free, it caused amazon a lot of money but is cemented the loyalty of customers and that was the beginning of the pathway that led to prime, another product he headed out more recently where they were using the efficiencies in the supply chain to pass on benefits to customers. team,or member of the spente who would have foodsime in the whole division. but that bench is extremely deep. the bigger story is how little turnover they have in the upper ranks and i think airbnb brought it over to be part of the homes division and has in his first executive who knows the operations in those marketplaces. emily: speaking of the cost of delivery, these things they are offering to customers don't come cheap and to our delivery is
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really expensive on the amazon side. is that going to hurt them when they start to raise prices that are more comparable with what they actually are? >> in the beginning, it can cost a lot of money, particularly when their ordering from things like parnell, it is small. this is the long-term thing that jeff bezos was to talk about, they're willing to do that for 10 years and as they get the concentrations of customers in neighborhoods higher, the cost for delivery comes down and their uniquely situated to be able to do that and suffer the early that economics for the long-term payoff. it might look bad now when you have one truck making one delivery in one neighborhood but fast forward in five years and suddenly that truck is full of stuff. emily: what do you think of amazon buying that doorbell company for billion dollars and their efforts, amazon key to have a concierge service that allows things to come inside your door and drop off packages. >> i wrote about this in our tech newsletter fully charged on monday. in the short-term term, amazon is up against google and apple in this home automation world. it is a novelty that a lot of people love, quizzing alexa and getting the weather. for the future, it has to be utilities, opening your door, dimming your lights, amazon works with third party appliance makers but the more they can bring this in-house, the better
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experience it is. over the longer term, not only allowing the delivery guys to come in your door but may be monitoring your door from work, letting your housekeeper in, letting the plumber in. all sorts of things, i call it the true lock-in. control yourn they doorway. it is pretty powerful. bloomberg's brad stone. amazon says it is aware of a bug, it is an alexa feature and is working on a fix, the problem is that her strange slapping noises of the echo home speaker.
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they didn't say when this would be deployed. amazon can push updates automatically. speaking of amazon, the battle for the club continues to heat up. we will talk to the men looking to stave off giant like amazon and microsoft, next, this is bloomberg. ♪
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>> blackberry in is suing facebook over messaging. beis ordering facebook to asered to stop using primary well as facebook messenger. in the past, facebook execs have several copying what works is sometimes necessary. it publicly credits snapchat were created the popular stories function. the one about content management when dropbox announced it was the latest such company to file for an ipo. one company that beat them was the rival box. it announced that its revenue missed forecasts, sending its share prices tumbling. thees have picked up in last couple days.
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we spoke with the cofounder aaron levy on tuesday. drags the quarter we just came off of was very strong. 130 6.7 million dollars in revenue. assessments were exactly that number and that was the range we got into. we did over $200 million in building. flow.llion in free cap i really strong quarter overall. and it is what box looks like when we are doing customer service at the very best. we did over 70 deals over $100,000 and nine deals over a million dollars. we got it to a decelerated rate for fiscal year 2019, the year we are in right now and certainly that was lower than expectations, hence the stock lower price. we are transitioning from a single product company to a multiproduct company and the way we are doing that to sell is to
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bigger customers, bigger deals. we want it make sure we set ourselves up for a good foundation for the year that would have some levers for excel writing growth later this year or next your. we are still on a path for $1 million in revenue over the next couple years but we wanted to be how wenservative and were guiding it. emily: i know you are asked about dropbox over the last years. are you concerned about the competition? >> i don't think the numbers changes the competitiveness of the business. we sort of new at a high-level how they were doing. -- has done - - two -- i think they've
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been trying over the last couple years. i think they have ended up tilting their revenue focus to where they are very good. our company's overtime has evolved to look very different. the kind of consultants, devotional services, compliance, reagan maggiore controls in the platform end up looking like a very different company at scale. the things our companies do everything with a look different that what dropbox employees do. even a name we are similar. we both store, let you serve files. the general electric's, the emails of the world be different functionality and that is what we're focused on and the last years. i generally don't give advice to matters but i think the more we possible inas -- as as closetry --
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possible i think that will put a massive spotlight on this. we are collectively going after $40 billion or $50 billion market. i think there is plenty of market for both of our is this is. flow ishe cash positive. you said you are going to invest more. what companies would you like to a choir? >> i'm not going to talk about any corporate moves today. someday we will be able to get there. on we are very focused certainly our organic growth and our organic growth and r&d. the best way to think about our roadmap is, if you are a 50,000 person company or a 100,000 person company you are transforming how your business works. maybe you are life-sciences company, government. we want to be the backbone.
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we have a lot of products that deal with bringing more intelligence in the box. box.ai in the more compliance to better serve our customer. just: bloomberg has confirmed the gary cohn is leaving his post at the white house. >> breaking news. emily: he was the ceo of goldman sachs. you have been an outspoken opponent of the trump administration. what do you make of this of the context and general of where we are more than one year and of this administration. are we better off or worse off? >> obviously, we are so off the path of i could even imagine. to think linearly about these things. this is not linear. i think the resignation would lead to more eternal chaos. how itbly hard to know
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compares to where we are today versus where we could of been a year ago whatever. generally, it is not good to see that lack of stability and steady hands of may be some of the people he was surrounded by. emily: do think it will hurt business? >> i think businesses in the market appreciate having somebody with gary cohn's background and lyrical views involved in the administration. very sort of oriented toward a growth economy and so i think this could put some risk on the policies. i think it that is what matters a lot with this type of role. who is advising the president and ultimately, what are the policies we see and acted? i think having somebody like gary out of the system not advising trump i think i cannot imagine it is a positive thing. levy, boxt was aaron ceo and cofounder. that does it for this edition of
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bloomberg technology. we will bring you the best of bloomberg technology throughout the week. remember, all episodes are now live streaming on twitter. check us out weekdays. that is all for now. this is bloomberg. -- ♪ ♪ mom you called?
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carol: welcome to "bloomberg businessweek." in this week's issue, wall street loses an ally in the white house. and a late david rockefeller's billion-dollar estate sale. jason: all of that and more on "bloomberg businessweek." ♪ carol: we are with the editor-in-chief of "bloomberg businessweek" joel webber, so much going on in the world of

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